Notice of Rent Increase Information:
A Notice of Rent Increase Letter informs tenants of an increase in their monthly rent payments. Rent increases are inevitable and a normal part of the rental business and tenants’ lives.
In most states, the Landlord may increase the rent whether there is fixed lease term or a month-to-month agreement by providing the appropriate notice period to the tenant of the rent increase. In states and cities where there is rent control, the Landlord may not increase the rent amount as they want but must follow the set local guidelines.
Typically, landlords are required to give at least 30 days written notice to tenants of a rent increase before their lease expires or renews. however, it is important to note that the required notice time may differ bases on state and local laws, as well as per the provisions of the lease agreement.
When there is a rent increase, there may also be an increase in the security deposit.
A rent increase letter will usually contain the following information: the Landlord’s contact information, the Tenant’s information, the address of the leased premises, the start and end date of the lease agreement, the current rent amount, rent increase amount, the date that the rent increase will take effect, date of the letter.
The rent increase notice must be in writing, oral notices are ineffective, and the tenant will not be obligated to pay the increased rent amount if there is no written notice.
When sending the rent increase letter or notice it is best to check the provisions of the lease agreement and any local laws as to how the notice must be delivered to the tenant.
In addition, Landlords may not increase the rent amount in a retaliatory or discriminatory manner, such as increasing the rent only for tenants of a certain race, religion or those with minor children, etc.…
When determining how much to increase the rent amount by, landlords must abide by local rent stabilization regulations and guidelines. It is important to research your local guidelines as to how much you can increase the rent by and how long of a notice period is required in your local jurisdiction before sending a notice to the tenant.
Other names: Rent Increase Letter, Notice to Increase Rent, Letter of Rent Increase, Rent Change Notice.