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Updated over 4 years ago,
Rent increase, and Notice for Georgia
Good day everyone.
I have read through the forums and posts as well as the Georgia Handbook(60 days notice by landlord) but I am still unclear with per room renting furnished with fixed term, not month to month Agreements in place.
Background
Landlord resides at property. 4 tenants each renting a furnished bedroom in a shared housing with all utilities paid to include internet and Security system. . Rental Agreement is for 6 month period expiring Sept 8, 19 and Oct 1. Rents are due prior to the 1st day of the month. The first month's rent was prorated.
Notice for Landlord /tenant is 30 days.
The intention was to give them notice now, that effective Oct 1, rents will be increasing to $$ and have them state their intention to remain or leave within 7 days of the notice. As you can see, based on their expiration dates there is some gray area.
Hence my question is can anyone suggest a way to do this?
Was thinking of an 8% increase for the new rents but perhaps offering 6.5% increase if they stayed. Rentals in the area varies. House is in a good HOA community, recently upgraded, stainless steel appliances, larger bathtubs with price points in the $200,000+range.
Also moving forward how would you structure the Rental period, seeing that rents should be paid prior to the last day of the preceding month or at least by the 1st of the month if someone shows up wanting to rent during the month and still satisy the 6 month period?
Please provide examples in your response if possible.
BTW, the increase is to offset high utilities which are close to $200 more than anticipated.
Thanks for taking the time to read through my post!