Rental increase : ezLandlordForms

B

Brian P

started a topic almost 15 years ago

Hello, does anyone know if I can increase the rent after a year passed by in a one year lease if it automatically renews, and I didn't state anything in the lease about rent increases??

S

Stan M

said almost 15 years ago

Pauline, a 1 yr lease which states the rent will be X # of $$$ freezes the rent for 12 months. After that you may raise the rent every month (check State laws - amounts vary) unless you have tenant sign another long term lease.

D

Donna S

said almost 15 years ago

Please, let them know. You don't have to give them a long explination but they have to have enough time to give you the vacate notice if they don't want to stay (after the lease expires) and don't agree to the increase. I've recently went up due to taxes, not one of my tenents moved out, I provided them with a 45 day notice of the increase. BUT, as Stan said, you can not do this in the middle of a lease.

C

Carmelita H

said almost 15 years ago

Pauline, my suggestion to you would be to go ahead and send out a Increase in Rent Notice. Of course you will need to check with the laws in your state to find out how much notice to give your tenant. Also have you thought about letting them go on a month to month lease or a 7 month lease if your not interested in a yr.

S

Stan M

said about 7 years ago

Compare rents .....your property to other like kinds.

M

Matthew M

said about 6 years ago

Hello, You're not "required" as the tenant is expected to read and understand before signing but I always point this item out just to be safe.

M

Michael I

said almost 6 years ago

dtr56iw46u

M

Matthew M

said almost 6 years ago

???