Annual increase in rent : ezLandlordForms

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Annual increase in rent

EUgene M

started a topic almost 15 years ago

I'm a 1st time home buyer looking to become a 1st time lanlord. Is it possible or has any one ever seen a lease agreement that dictates a 2 or 3 percent increase every year due to taxes?

3 Comments

Ralph F

said almost 15 years ago

Most leases I've ever seen or used have been for one year, after which they roll over to month to month, but all other terms remain the same. The two most feasible ways to approach an annual rent increase is to either have the tenants sign a new lease every year, with a higher rent amount, or to sign a multi-year lease with a clause specifying the annual rent increases. Hope that helps, Brian

EUgene M

said almost 15 years ago

The potential tenant wants to sign a long term lease for three years, we will probably have to research option 2.

Ralph F

said almost 15 years ago

I know the lease builder in this site allows you to add custom clauses like that. I believe it's in Step 9 -B