Rental Increase Letter

What Is Rental Increase Letter?

A rental increase notice is an official letter that must be created by the landlord and sent to the tenant if the rent is going to be increased. You can’t send the letter after you increase the payment. Consider this document as the official warning that must be provided in advance. The best way to inform the tenant is a month before the rise of the rent.

You also need to provide an explanation of the increase. Yet, you may not expect your tenant agrees with this decision. If the rent is too high for the renter, the contract on the rent can be broken without any compensation from the renter in advance. Based on the original agreement, you may still receive the compensation for the month after the payment was made and you sent the notice. The renter can ask for a month to search for a new apartment or house.

The document does not have to be signed in front of a real estate agent. Yet, it is official and can be used to prove your point of view in court. If you disagree with the document, don’t sign it.

What I need the rental increase letter for?

• As a landlord, you need a rental increase notice template to notify your renter about the price increase. If you want to change the rent, you have to ask the tenant about it. It is better to warn your tenant one month ahead of the increase, so the person can change the location if he/she does not agree with the price. This time may be used by you to find a new tenant for the new increased price;
• As a tenant, you need to receive a rental increase notice letter from the landlord to know whether you need to pay more. If you don’t agree with the increased price, you have to change the location. You may also try to reach another agreement with a landlord.

How to Fill Out Rental Increase Letter?

There is nothing complicated in filling out the notice for rental increase. You will quickly learn how to do it once you open the document. Some letters that you may find on the Internet differ from each other. Make sure that the form you fill out is the most appropriate one. It must be made in accordance with local laws, which sometimes require an official stamp from the real estate agency or your broker. This form on PDFLiner is universal.

You may edit it if you need. However, if you want to add a section or even change the already existing one, use the tools in front of you, but consult with a lawyer. Once you fill it out, save it on your device and send the copy to the other party. You can do it via email or print and hand it in person. Here is what you have to include there:

1. Provide information about you, including your name and address, email, and phone number;
2. Write down the current date;
3. Provide the name of the renter and the date when the original agreement was signed between you two;
4. Provide the information on the new price and on the original one;
5. Sign the paper and put the date.

Organizations that work with rental increase letter

• Real estate agencies;
• Brokers who work with real estate.