Increasing monthly rent amount : ezLandlordForms

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Increasing monthly rent amount

Tamara W

started a topic almost 12 years ago

I lease out my home in CA, fully furnished. The 12-mo lease expires April 15, 2013, and I'd like to raise the rent $100-150 more per month. Is there a maximum percentage the rent can be raised in a certain time frame?

1 Comment

Bob R

said almost 12 years ago

Unless your property is in a rent control area, landlord’s can increase rent to what ever they decide….. If rent is increased (annually) by 10 percent or less, landlord’s must give 30 Days' Notice. If it’s more than 10 percent, a 60-Day Notice must be given….. Also, proper Notice needs to be served in writing. A landlord must deliver the increased rent Notice to the tenant personally or through the mail. If landlord chooses to deliver the Notice through the mail, landlord must give the tenant an extra five days' Notice….. On another note…are you aware that if you rent a fully furnished home you can ask for 3 months rent as sec.dpst? If the lease is being renewed, you can add (via monthly payment over 6 months?) to the sec/dpst when you send/deliver rent increase (Change of Terms Notice)….The Change of Terms should also include language that they must return the Notice Sign/Dated/Accept or Reject Change of Terms by (enter date), you will not be renewing the lease and the property will be placed on the market for rent and that tenants must vacate the property by (date – 60 Days’ Notice). . -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Unfortunately, it is impossible to give comprehensive real estate/tax advice over the internet, no matter how well researched or written. Therefore, it is up to you to become familiar with Fed/State/Local Tax Laws. Also, if you have real questions, you should consult with an attorney or tax professional……Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance. BTW...check out the Rental Property Organizer at Simp-List.com. Free Trial Download with data. Check out the new $$$$ for 2013