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Alexia
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Post subject: What is the proper procedure to increase my tenant's rent? Posted: Tue Oct 02, 2007 3:16 pm |
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I am currently a landlord and with the cost of property taxes going up each year, I want to increase my tenant's rent. I was wondering if legally I am allowed to raise the rent after the tenant has occupied the apartment for 1 year? How much notice must I give the tenant before the rent will be increased? 30 days? 60 days? Does it matter if the tenant signed a lease? Must I wait until the lease is up for renewal before I can raise the rent?
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propmgr
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Post subject: What is the proper procedure to increase my tenant's rent? Posted: Mon Oct 08, 2007 11:52 am |
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Posts: 7
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You may not change the rent amount during a lease unless the lease states that you have this right. However, unless stated otherwise in the lease, you can change the rent to any amount you like after it is expired.
Its not a requirement by law that you give a certain number of days advance notice, but it is surely advisable.
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