Raising Rent

[Marc Bresseau]

Hello everyone, I need some advice. I have a rental with amazing tenants but it's time to raise the rent a little. We were thinking about $20-30. My question is how to convey this to the tenants without alienating them? Any advice is greatly appreciated.

[Mike Cumbie]

Hi @Marc Bresseau,

Dear Tenant (use real name here).

First I want to take the time to thank you for being our tenant for this past year. During our maintenance inspections I could not help but notice how well you took care of our property. Your promptness to rent due dates have also been greatly appreciated. (insert more feel good things maybe a personal touch "the way you handled the noisy neighbors was superb")

As I am sure you are aware from the news, property taxes have increased substantially in this area. In order for us to maintain a quality rental unit and handle the increased costs, we are forced to have a rental increase. Beginning January 1st, the monthly rental rate will increase to (current rate +$50). However in the interest in maintaining quality tenants like you, we would like to offer you a lease for an additional year locking the monthly rate in at: (current rent + $30).

I have enclosed a copy of the new lease. If you would like to take advantage of this, please sign and return to us on or before December 10th

Thank you very much and we look forward to your continued tenancy through the coming year.