Raise Rent Letter

[John C]

What is the best and most polite way to word this letter to get the rent and keep the tenant??

[Maryann L.]

John, my lease states there is a 3% raise in rent when the renewal come around.

Here's what I did. I wrote each tenant a letter stating due to the economy we have decided NOT to raise the rent a full 3% and that only a 1.75% rent raise will occur. I gave them the new amount and told them when they could expect to pay it.

I then gave them a choice of $75 gift certificate to one of three local places

1) grocery place
2) walmart
3) restaurant

They were to check the place they wanted to recieve the gift certificate and notified that upon renewal the certificate would be sent. They needed to sign the form, date it with their choice of gift and return it to me in a self addressed stamped envelope.

NOW - I have their signatures on file that they understand the new amount they have to pay and when it starts and they feel GREAT because they got a renewal gift.

I've only utilized this method once, but it worked GREAT. I LiTERALLY just sent rewewals out for two units yesterday. I'll let you know how it goes.