Start a new topic

Rent Increase

What is the maximum rent increase allowable in Baltimore, MD.

Just a notice of increase will suffice.
I did a split payment for a tenant, but I made sure that they were aware that if late on both dates they would be charged 2 fees of $25 for both.
These side deals dont work. You are probably only kidding yourself as to whether they really can afford to stay in the home.   That does not mean you can not be ethical and allow the number of days late your state requires before assessing a late fee, or waiting a day or two to write the memo threatening eviction for non payment.... but when you start down the road of negotiating the rent, your only negotiating with your self and setting your self up for financial losses much greater then the 30 days they are delinquent.
Do you mean partial payments as in paying biweekly or weekly? I would not raise if they are paying the rent and the full amount on time. I also wouldn't raise it if they cannot afford the rent as it is either. I would do a payment arrangement if they are falling behind. SO for instance i have allowed my tenants to pay an extra 50 biweekly or 100 monthly to the rent until they get to the amount in full.
Landlord must give the tenant at least 30 days’ advance notice if the rent increase is 10 percent (or less) of the rent charged at any time during the 12 months before the rent increase takes effect.  A landlord must give 60 days’ advance notice if the rent increase is greater than 10 percent. (Civil Code Section 827b.)  Buildings under rent control in some cities require different regulations. I would look up this information so you can calculate the correct amount of notice and increase. Good Luck
It depends what contract you signed with the tenant. If  in contract it is mentioned that this amount will be increased after certain period then you can't increase rent till end of that period but there is no as such clause in the contract and not any to overrule rent increase then you will have to give them advance notice of at least 30 days.
This article states that you may increase the rent by the end of the lease. It also contains useful tips on how to raise rent carefully and to keep you current tenants. As you're a new landlord I thought it could be useful information. You need to understand that raising the rent requires a  lot of good business skills, marketing research, public relations with tenants and legal requirements.
If you’re renting the property out on a month-to-month basis  you  can increase the rent basically any time he feels like it. But remember, that you has to give your tenant a notice, usually 30 days.
Didn't you mention about the increase in rent in the lease agreement? When I was renting a home, my agent at Could Real Estate included all such clauses in the contract to avoid any problems.
No, since you are in California. Leases are optimal when the market is slow or when you first get the tenants in so that that you don't have a fast turn over. When the rental market is doing well, especially in California, Month to month is better on a renewal. I was an owner and landlord for 12 years in CA before we moved to Washington State a year ago. California is a very different market compared to the rest of the US.
If you do a rent increase then yes lock them in for a year, other wise if they are good tenants on a mont to month just keep them as long as you can. This usually works to your benefit. I usually never increase rent for good tenants. I can always make up for it when I look for new tenants.
To raise the rent in the state of Carolina, you would need to give the same amount of notice required to end a lease. So for instance, a month to month lease requires a 30 day notice to end or raise rent.  If you have a long-term lease, then you would not increase rent until the lease ends and a new tenancy begins, unless the lease itself provides for an increase.
OK thank you Richard W.
There is no regulation in Florida however depending on how much you are going to  increase rent you may need to give a certain amount of notice that must be given. Check with your local cities requirements!
Email me when this thread is updated
Login to post a comment