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Thread: Rent increase

  1. #1

    Question Rent increase

    If a landlord wants a rent increase, is it suffice to give a formal notice in advance to the tanent with effective date etc. Or does it always need to re-sign a new contract by both parties?

  2. #2
    Join Date
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    Formal notification is all which is required. Provided time frames and Tenancy Agreement allow.

    Time frames. Effective date is not less than 180 days from the start of the tenancy or the last increase.

    Tenancy Agreement. Periodic tenancy or Fixed Term Tenancy with a rent increase clause in it.

    The amount of increase is what you choose. There's no legal limit or percentage you can increase it.

    Look here.
    Last edited by Keys; 04-02-2010 at 06:20 PM. Reason: Added link

  3. #3
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    Rent increase is not a good news to the tenant, but be sure to fix everything up like the agreement, notice, and the most most important thing is for the tenant to know why you will need to increase the rent fee. Be sure the increase stands the property.

  4. #4
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    I find it helps to do increases the same date every year so they expect it.

    Make sure you give 90 days notice.

    I always enclose an AP form and a $5 note to cover the AP fee, it seems to soften the message and ensure it gets done.

    Keep the message simple - they don't care that you need the money, and that is irrelevant to the rent increase. My message is "I realise this is not welcome news, but as I am sure you have noted, rents have been increasing and I can not realistically leave the rent at its current level."

    Keep the letter short and impersonal and seperate from any other issues.

  5. #5
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    Hi Tan

    Make sure you give 90 days notice.
    One is only required to give 60 days written notice of a rent increase.

    If you keep being nice to tenants by being considerate, you'll ruin the image for the rest of us mean, money-hungry, don't-do-repairs Landlords!!
    Patience is a virtue.

  6. #6
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    Quote Originally Posted by essence View Post
    One is only required to give 60 days written notice of a rent increase.
    So it is. That is actually what I give! It's been a long time since November when I last did it

  7. #7
    Join Date
    Feb 2010
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    Quote Originally Posted by essence View Post
    Hi Tan



    One is only required to give 60 days written notice of a rent increase.

    If you keep being nice to tenants by being considerate, you'll ruin the image for the rest of us mean, money-hungry, don't-do-repairs Landlords!!

    Awwww essence,

    How sweet,....I do hope you have a nice day!


 

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