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If you own any rental properties, there will come a time when you will really have to increase the regular payment that you require from your tenants. No matter what your reasons are, you need to make sure that you communicate it well to your tenants so that it won’t affect your relationship. One of the best mediums to do so is by sending them a letter, such as a rental increase letter, that will help you in covering all of the necessary details of your rental increase to avoid any confusion or even misunderstandings and disputes regarding the increase.
In this article, we have already provided you with rental increase letter examples and templates to help you get started in writing one.
For most landlords, rental increase letters are among the most dreaded letters that they will ever write. This is because writing and sending one can possibly affect the tenant-landlord relationship. In order to lessen the dread of making one, you may make use of a pre-made template that will already contain all of the details that you need to cover. It is also important to ensure that the details that you will add on the template are properly and correctly composed.
Communication is the key in order to build and foster healthy tenant-landlord relationships. However, there is always that possibility when landlords must increase the rent and such possibility can possibly affect the current relationship between the tenant and the landlord. In order to avoid losing tenants, landlords must always send a rental increase letter to make sure that the tenant is well-informed of the said increase and that he or she will also understand the reasons behind it.
Tenants rent for various reasons and one of the most common reasons is practicality. In this current age that we live in, owning a house or any property is a dream or goal that gets difficult to reach every single day. As a landlord, you have all the rights to increase your rent, but you also have to consider the plight of most tenants and give them proper notice, particularly through writing a rental increase letter, that will fully explain the reasons behind your decisions to increase the rental fees.
Your tenants are probably among those people who are already maxed out on all the bills that they need to pay on a monthly basis. Sure, you are possibly among those people too but if you will incorrectly inform them regarding any increase in your rent, such information might not be received well by your tenants. This is why you need to compose a letter, such as the given example above, that will allow you to effectively communicate with your tenants regarding your rent increase and avoid any possible confusion and disputes in the future.
While you don’t want to offend your tenants in some way, you also need to let them know your decision for increasing the rent and that there will no possibility for any sort of negotiation. Luckily for you, we have already provided you with this rental increase letter that already contains all of the details that you need in order to come up with a letter that is full of tact and courtesy.
As a landlord, you have every right to increase your rent, but there are certain laws that you should follow when you do so. One of those laws includes properly informing your tenants through a written notice or through a rental increase letter, with a certain fair number of days before their next payment due date. If you fail to do so, you do not hold the right to demand more from your tenants given that you failed your responsibility to inform them of the said increase beforehand.
Before you impose any changes to your rent, it is courtesy that you will explain to your tenants the need for such an increase. Whatever your reasons are for doing so, be it inflation or property tax increase, you have to explain honestly to your tenants. Honesty goes a long way and if you are honest and sincere enough to explain the reason behind the increase, your tenants will surely understand your decisions, most especially if you made the effort in making them understand the situation.
A rental increase letter that is written badly and incorrectly will most likely lead to tenancy or vacancy loss. If you have never tried writing a rental increase letter before, you may want to consider getting a rental increase letter example that will serve as your reference if the time comes when you need to write one. Make sure that you will keep a courteous tone because, as you may already know, any increase in the bill payments is usually and normally not welcomed by most people.
Do not anymore hesitate or agonize on how you should be informing your tenants about your decisions to increase your rent because we have already provided you with this rental increase letter examples and templates that already covers most of the things that you want to address to your tenants regarding your rental increase. With these friendly, professional rental increase letters, you will no longer have any difficulty in coming up with one, plus you will also avoid any possible misunderstandings and disputes in the future.