Rent Increase Form (by Honey [FL]) Feb 18, 2012 10:25 AM|
Rent Increase Form (by Wallace CPM [VA]) Feb 18, 2012 10:29 AM
Rent Increase Form (by Tracy [WV]) Feb 18, 2012 2:07 PM
Rent Increase Form (by Honey [FL]) Feb 18, 2012 6:14 PM
Rent Increase Form (by Lee [IN]) Feb 19, 2012 3:32 AM
Rent Increase Form (by S i d [MO]) Feb 19, 2012 4:29 AM
Rent Increase Form (by Honey [FL]) Feb 19, 2012 7:26 AM
Rent Increase Form (by Timeless [GA]) Feb 20, 2012 9:19 AM
Rent Increase Form (by Tracy [WV]) Feb 20, 2012 11:34 AM
Rent Increase Form (by Timeless [GA]) Feb 20, 2012 5:49 PM
Rent Increase Form (by Honey [FL]) Posted on: Feb 18, 2012 10:25 AM
Hello Fello LLS, hope your day is going well!
Please advise if you have a form letter for rent increase. In the past, I have typed up a general letter advising them of rent increases.
I have a MTM rental agreement where I am going up on the rent amount and was wondering if anyone has a standard rent increase form that they use
I dont see any forms or form letters on rent increases in the LL manual package I purchased at the seminar few years back
Thanks in advance for your help with a rent increase form letter --76.123.xxx.x
Rent Increase Form (by Wallace CPM [VA]) Posted on: Feb 18, 2012 10:29 AM
I just sent out 50 lease renewal letters...I send 2 letters and they sign ONE and return it by a drop-dead date - mine is March 9th --184.2.xx.xxx
Rent Increase Form (by Tracy [WV]) Posted on: Feb 18, 2012 2:07 PM
As you know I try to keep expenses down as much as I can but insurance and real estate taxes have increased to the point that I can not longer absorb these. Therefore, I must raise your rent from $_____ to $_____ per month effective April 1, 2012. I am letting you know now so that you will have time to look at other places but, of course, hope you will stay here. --76.92.xx.xx
Rent Increase Form (by Honey [FL]) Posted on: Feb 18, 2012 6:14 PM
Wow! Congrats on the 50 renewal letters! I hope they all renew
Thank you so much! This is the type of form that I was looking for and have been feeling brain dead wondering if they will leave or stay
I will just leave out the effective date on the future increases and just leave the date blank on those for now
The last couple of times that I did these, they did not work out very well and it could have been my wording, maybe?
Thanks much! --76.123.xxx.x
Rent Increase Form (by Lee [IN]) Posted on: Feb 19, 2012 3:32 AM
I would leave out the part about looking for other places. I wouldn't put that in their mind. Stay upbeat and they will too. --96.31.xxx.xxx
Rent Increase Form (by S i d [MO]) Posted on: Feb 19, 2012 4:29 AM
This is a simple one:
Dear Tenant X,
Effective April 1, 2012, the monthly rental rate will be ______ dollars.
While it may sound "nicer" to have reasons included, I think most tenants who have an IQ above 80 understand that prices on everything go up. If you are truly raising prices to cover increased expenses, then everyone else in town is raising too, and they will not find a better deal elsewhere. If you're just raising rents because you think you want more money, that won't work as well. They'll start looking around and talking with their friends and co-workers to see what they are paying.
I don't like hearing tenant excuses why they can't pay rent, etc. I doubt they like to hear my excuses about why I have to charge them more rent. The rent is either fair and a good value, or it's not. --108.230.xxx.x
Rent Increase Form (by Honey [FL]) Posted on: Feb 19, 2012 7:26 AM
It seems that I may have to change the form letter from time to time depending on the tenant and the market
On some increases, it seems approriate to say due to increased expenses and on others it seems ok to just flat out say rent increase with no reasons or execuses
Some tenants are like children and they constantly ask why the rent increase, etc
The PITA ones really wont settle for a SIMPLE rent increase letter without a reason as to why the rent is going up because they may think that they are not wanted due to their being a big fat PITA --76.123.xxx.x
Rent Increase Form (by Timeless [GA]) Posted on: Feb 20, 2012 9:19 AM
Out of curiosity, by how much are you guys increasing the rent? I have had the same tenants for 7 years, paying $1100 and I have not increased rent. RE taxes and costs have been going up.
Rent Increase Form (by Tracy [WV]) Posted on: Feb 20, 2012 11:34 AM
I thought that I was waiting too long to increase but 7 years? I have a multi and usually raise anytime someone moves. In my case of waiting 4 years this tenants rent was $100 below any other tenant in the building and I was willing to risk them moving and face the turnover costs because I knew if they moved I could get at least $150 more per month if they did. Ask yourself what is the maximum you willing to raise it to and risk their moving. --76.92.xx.xx
Rent Increase Form (by Timeless [GA]) Posted on: Feb 20, 2012 5:49 PM
I think I can raise it by $100 and they will still stay (they will complain but stay). Anything more, I don't know. --74.229.xx.xx