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Making a Rent Increase Letter
As a landlord or property manager, you may increase rents on rental properties periodically. A Rent Increase Notice can be used as a written notification to your tenants. It can include details such as the rate of increase and when the increase takes effect.
Making a Rent Increase Letter online is simple. Just answer a few questions, and Rocket Lawyer will build your document for you. Consider these questions beforehand to make the process speedier:
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No, a landlord is required to provide written notice (mailed or hand-delivered) through a rent increase letter before increasing a tenant's rent.
Rent increases can vary by unit and by location, however 3-5% is common. There may be limitations on your property due to rent control or other protective measures, so it is best to confirm with a lawyer what percentage is legally allowed and how much notice is required for your specific property.
Unless you live in a rent-controlled or rent-stabilized apartment, there is no limit to how much a landlord can raise your rent. It is up to the discretion of the landlord. A landlord, however, cannot raise the rent whenever they want. They can only raise your rent when the contract that you have signed with them expires. Typically, they are also required to provide advance notice of an increase.