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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?
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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. -
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.Comment
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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.Comment
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Hi Tan
One is only required to give 60 days written notice of a rent increase.Make sure you give 90 days notice.
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.Comment
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So it is. That is actually what I give! It's been a long time since November when I last did itOriginally posted by essence View Post
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Awwww essence,
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