Rent-Increase Letter Suggestions...

[Bill Zepeda]

Hi All-

I'm about to conduct my first rent increase and I'm looking for suggestions on how to create a letter that is polite, yet accomplishes the task.  The tenants are good people but I want to stay reasonably close to market rent .  Does anyone have similar letter they could share?

Thanks in advance,

Bill

[Nathan Gesner]

I disagree. First, any changes or notices to your agreement should be in writing and signed by all involved parties. You can talk to them face-to-face but I would still provide them something in writing and have them sign their acknowledgement. Second, you should run your business like a business. You don't have to be mean about it but there is nothing wrong with notifying your tenant of an increase by writing.

I would also argue that the reason so many Landlords have problems is they do everything verbally and face-to-face, which gives the tenant an opportunity to negotiate or manipulate the situation. You can be a business while still treating people kindly and with respect.

Here's my letter, short and sweet.

Re: Rent increase

Dear _______________:

Due to the increased cost of maintenance, taxes, insurance, and other incidentals, we are required to increase your monthly rent. This letter serves as official notice in accordance with your rental agreement.

Current Rent: $00.00

Increase: $00.00

New Rent Rate: $00.00

This increase takes effect the 1st day of February, 2016.

We’ve been happy with you as a tenant and hope you continue to stay with us for a long time. If you have any questions or concerns, please call us at (307) 555-1111.