Does anyone have a nice letter that basically says your rent is going up? Can you cut and paste it here?

Here you go. This is the "increase rent on yourself" letter I borrowed/stole from NE and tweaked a bit. If the tenant comes back with too low of a number, I can always increase it "upon further review." When it comes in HIGHER than what I wanted or they take the "market rent"....party on!

******************

Dear (fill in Tenant's name),

Thank you for choosing ABC Properties to fill your housing needs during 2018! We value you as a good Resident at (insert address)!

Upon review of your rental agreement, we found that rent has not been increased in a year's time. As you know the costs of doing business are always increasing: property taxes, insurance, labor, and materials have all gone up! We've held off as long as we could and now need to make an increase.

The current market rent for your home is $XXX.

Your current rent is $YYY.

We realize times are tough, so help us out! Please write the number here you feel you can afford and the office will review it. $___________

___________________________ ________

Resident’s signature Date

If we do not receive your response within 7 days, we assume your are comfortable with the market rate and your rent will increase to $XXX, with the first new payment due on ___________________.

If you have any concerns, please contact us. We value your business as our long-term Resident!

Sincerely,

ABC Property Management

I have seen this tactic before. What do you do if a fair increase is $60 and T fills in $10 or $15? I use a number that is fair and if they disagree then I lose them but that's business.

Just did this the other day. Already looking forward to the increased rent for next year!.

Subject: 2019 – 2020 Lease Amendment

Attached is your lease amendment, which will take effect on May 1, 2019. The amendment specifies the new rental period and monthly rental amount. Please read the amendment carefully, sign both copies and place the Landlord’s copy in my mail box by March 1, 2019.

Your rental increase this year is higher than in past years. My costs of managing these units has increased substantially during the past few years (i.e., extensive concrete and stone work, significantly higher rates for property taxes, property insurance and trash hauling), which I am partially recouping with this annual increase. On the plus side, these townhouses are still priced competitively, if not lower, to similar rental units in the area.

If you will be moving at the end of the current lease that ends on April 30, written notice to this effect must be provided to me by March 1, 2019.

Please call if you have any questions regarding the amendment or require a copy of your original lease.

This letter is to notify you that there will be a change to the terms of tenancy under which you occupy the property located insert, street address, city, County, and state.

As of insert month , year, your rent will be adjusted by Twenty dollars ($20.00) per month due to tax and insurance increases and increases in expenses. The new rent amount will be $XXXX per month, effective, insert month, 2018.

Thank you for your attention to this matter. Please feel free to contact my office should you have any questions.

Most tenants will not object a rent increase, they know the market well, but will need an upgrade or two to sweeten the bitter pill - new kitchen faucet or new bathroom light fixture. Fine.

However some really get angry, even move out, to a very hostile rental market...and end up paying even more while incurring their moving costs.

BTW I raise rent every year, usually $10 or 15 per month. My rents on these units are approx. $1000 per month so, over time, my rent increases do not keep up with inflation or market rents for the area when I have long term tenants (5 years or more). In these 4 side by side townhouses, three of the four units have long term tenants, two of which are over ten years. 2019 will be rent catch up year and the increase will be $50 per month. I'm sure I will hear a bit of grumbling but no one will move because my places are some of the nicest around, located in a nice area and still slightly below market rates for these long term tenants. To be honest, I hope for turnover every 3 - 4 years so I can get the rent fully adjusted to market rent.

I do reset rents to full market value when I have turnover.

Some of these are TMI..........

Thank you for a pleasant year. We regret an increase but taxes and insurance have gone up and up as you are more than aware.

I have used Jeffrey's method of "naming your own increase", as SID posted, with great success. We had not increased in years. Probably averaged 13% increase, multiple residents agreed to a $150 increase on their own.

MOST chose a number slightly under the market rent.

For the cost of a stamp going out and another stamped return envelope, this simple mailing increased our monthly income by $3460/mo.

My lease is clear: THe lease automatically renews each year on it's anniversary date as shown on page one with a Cost Of Living increase of 3.9%.

Soo... our "increase letter" is a text. 'Courtesy reminder: the rent autodraft will be $XXX as of Oct 1.'

BRAD