Do you plan to increase the rent by more than 10%? You must notify your tenants 60 days before the end of the lease. If your tenant decides to accept the new monthly rent amount, either by signing an amendment and extension of the lease, or by entering into a new lease agreement at the premium price, make sure that you both have a copy of the documentation executed. If you are using a rental management tool, you should update the online rental collection, automatic reminders and registrations with the new rental amount. Recommended Tip – Feel free to send similar products to the area to show the tenant that the rent is justified. Especially if the rent has not been changed for a long time or is in a growing area, it helps the tenant to come to terms with the situation. Note that some states have specific rules for managing rent increases. Before you create your rent increase letter, contact your lawyer to make sure you follow local and government policies. Are you writing a rent increase letter? Remember to include these key elements: if you have an agreement with your tenant for a fixed term, the rental price of this existing lease will remain valid until the lease expires. If you want to increase your tenant`s rent, you must wait until the rental period ends. Before, be sure to send a friendly rent increase letter to inform your tenant of your plans. The notice of rent increase by certified mail is mandatory in some states. But it doesn`t matter if it`s true for you, it`s a good idea.

This way you can follow the letter. It is also recommended to follow by email. This way, you can make sure that the customer has read the letter and understands what you are communicating. With a standard rent increase notification model, you save valuable time and make sure you send a consistent message once the extension period is over. With our downloadable rent increase letter, you can document the new rental price and inform your tenants. These statutes prevent property owners and managers from increasing rental fees beyond a certain amount. You can link to other metrics before recalculating your monthly rents. Once you know what your new rent will be and when you can and should inform your tenants, you are finally ready to send a notice of rent increase. At the end of this article is a useful model. But for now, it is interesting to note that your letter must balance a neutral tone that informs your tenant, that the rent increases and that you do everything in accordance with the rules. 6. Right to refuse rent increase – A tenant is not obliged to accept the rent increase.