How To Write A Letter To Increase Rent – A notice of rent increase is a document intended to notify tenants of a rent increase within a specified period. Because rent regulation exists in only a few jurisdictions, landlords can generally raise rents without a limit. However, it is recommended to inform tenants of such a decision within specific time frames.
Use our rent increase notice form to create your document and successfully notify your tenant of the rent increase. You can also use our step-by-step instructions to prepare all the necessary documentation, including a rental agreement.
How To Write A Letter To Increase Rent
While there are usually no restrictions for landlords on the number of lease changes they want, you should always use common sense and consider that such financial changes could deprive you of a diligent tenant. Therefore, the new amount of rent should be justified and should have a reasonable explanation, such as:
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There can be any number of reasonable explanations for changing the terms of the lease; however, landlords may face some important restrictions in this regard, such as:
Landlords often increase costs by 3 to 5 percent. If the rent increases, the tenant can decide to change the apartment to a more affordable one. For this reason, when deciding whether to increase rent costs, landlords must do thorough research that includes:
Alabama No status Alaska 30 days Arizona No status Arkansas No status California 30 OR 60 days Colorado No status Connecticut No status Delaware 60 days Florida No status Georgia No status Hawaii 45 days Idaho 15 days State Day Illinois Illinois No status Kanaow As 30as Illinois Kanaass As 30as v of lease Kentucky No statute Louisiana No statute Maine 45 days Maryland No statute Massachusetts 30 days Michigan No statute Minnesota Lease period plus 1 day Mississippi No statute Missouri No statute Montana 15 days Nebraska As stated in lease H45 Days Nevada 30 days New Jersey 30 days New Mexico 30 days New York No status North Carolina No status North Dakota 30 days Ohio No status Oklahoma No status Oregon 30 days Pennsylvania no status Rhode Island 30 days South Carolina no status South Dakota 30 days Texas Tennessee No status No status Utah No status Vermont 60 days Virginia No status Washington 30 days West Virginia No status u Wisconsin 2 8 days Wyoming no status
If your decision to increase the rent is final and justified, we have prepared instructions to facilitate the process.
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Try to come up with a fair rent increase. As mentioned above, a good way to justify a new lease term is to do some thorough research with regards to real estate market demand, local rental conditions, and average monthly rents for similar properties in your area. Landlords must also comply with rent increase laws when calculating rent.
It is important to follow state regulations as some jurisdictions have rent stabilization laws. Rent control is mostly accepted in California, New Jersey, Maryland, New York, Oregon and Washington D.C. Although there is no state law on this issue, it is recommended to always give the tenant written notice of a rent increase at least one month before the increase date.
After preparing all the necessary information, it is necessary to write and send the notice according to the legal requirements. Be friendly to your tenant when writing a rent increase notice. You can even add some of your research to justify your decision. It is strongly recommended that you use certified mail when sending your notice, as you will receive a confirmation of delivery. If you want to send the notice by email, back it up with a printed copy of the letter.
Friendly Rent Increase Letter To Tenant (sample Letters)
As long as rent stabilization laws don’t apply, as a landlord or property manager you can raise your rent periodically. However, be sure to notify your tenant of such changes with a rent increase letter that includes written notice. Failure to send such a letter can lead to unpleasant consequences for both the landlord and the tenant.
If the landlord does not send a letter about the rent increase or notifies the tenant of future changes only orally, the rent increase may not be qualified as legal. The landlord therefore risks being sued for possible retaliation or discrimination against the tenant and having to pay a law firm to settle the dispute. In addition, the landlord loses the opportunity to sign a new lease agreement with a loyal tenant and thus obtain a higher rental income.
If tenants do not receive a rent increase letter, they may choose to file a lawsuit against the landlord. As a result, they also risk paying expensive fees to a law firm that will sue the landlord for possible retaliation or discrimination. In addition to legal action, tenants may waste time looking for more suitable housing.
A rent increase notice gives the landlord a legal reason to increase the rent. The main steps for preparing such a notification are as follows:
Rental Increase Notice Rent Increase Form Editable Word
You should enter the date of the rent increase notice at the top of the document. You must then provide the name of the landlord, tenant(s), guarantor of the lease (if any) and the address of the property including the unit number.
Do not forget to enter the previous and increased rent amount with the reasons for the increase. You should also state which lease the notice is based on, as well as its effective date.
After preparing the document, you should sign and print it. You can deliver the notice to your tenant in one of the following ways:
Make sure you deliver a hard copy of the letter as it creates a reliable record of documentation. In some states, it is mandatory to send the notice specifically by certified or registered mail to ensure delivery of the document to the tenant.
Gratis Rent Increase Letter
A rent increase is not a very pleasant event for tenants, so you should inform them as smoothly as possible. Obviously, the letter should be formal, but we recommend that you write it in a friendly way, especially if you have a positive relationship with your tenants. Please note that an increase in rent sometimes leads to an increase in the security deposit. You should also inform your tenant of this possibility. You can use the sample letter below when writing a rent increase notice.
I am writing to inform you that the rent for the unit located at 8305 Grand River Ave, Detroit, Michigan (Property Address) will be increased due to recent capital improvements to the exterior of the home (Reasons for Rent Increase).
May I remind you that your current tenancy will end on December 31, 2020 (date). The new monthly rent will increase from $750 to $825 (amount) after that date. Please note that the other terms of our contract will not change (including the amount of the deposit).
Whether you wish to continue with the current monthly rental or would like to sign a new contract, this new amount is required in both cases. Please let me know your decision by replying to this letter within 30 days.
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If you would like to discuss the new lease terms, please call 258-212-7648 (phone number) or email me at [email protected]
With over 25 years of experience as a commercial and transactional attorney, Jennifer has mastered the craft of closing highly successful deals for her clients. With her extensive expertise in commercial contracts, real estate transactions, mergers and acquisitions and corporate law, Jennifer ensures unmatched results. A rent increase notice is a letter provided by a landlord informing a tenant that the rent in the tenant’s unit will be increased. The letter can only be used to increase the rent for a month-to-month lease.
After the tenant receives the notice, they will have the option to accept or reject the notice.
Certified mail (USPS) represents legal notice. After sending, the lessor receives a confirmation of receipt of the notification to the lessee.
Sample Letter To Increase Rent For Monthly Tenants
When deciding on a new rental for a tenant, it’s best to see how they compare in the area. This can be looked up online through the following websites:
After doing a thorough search of your area, you can reasonably estimate what a property is worth.
Recommended Tip – When looking at other listings in the area, most landlords believe their property is worth more or better than others, when it’s not! Therefore, try to be informed and determine the rental market based on the facts!
In most agreements, it should contain a notice period for changing the contract. Once you know the number of (#) days you want, it’s best to check your local laws to make sure it’s legal.
Free Month To Month Lease Addendum Template
Make sure there are no city laws that prohibit the landlord from raising the rent by a certain amount. Otherwise, the only obligation of the landlord is to give to the tenant
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