Letter Writing: Notice of Rent Increase in House Rents to TenantsPHCS
Increasing rent can be a minefield, It can be difficult to raise rent without causing a backlash, from maintaining compliance with local laws to potentially losing loyal tenants.
This isn’t to say you shouldn’t or can’t raise your rent. It simply means that you must have done your homework and prepared extensively.
You shouldn’t add a sum to tenants’ monthly payments without doing some market research beforehand. Increasing rent might not lead to greater profit margins if it means your property falls outside of the competitive bracket in your neighbourhood.
This is a sample of short letters Landlords and Caretakers can use as a guide in formulating their own increment in house rent to tenants living on their property. Using JP HOSTEL as Case Study
Below is a brief sample letter for increment in house rent (rent increase) that landlords and caretakers can use
Sample 1: JP HOSTEL
Name of Tenant__________________________________
Notice of Rent Increase in House Rents to Tenants 2021/2022
I take this chance to thank you for being a valuable and trustworthy tenant. Allow me to notify you of an impending increase in yearly rent because of inflation and the recent increase in property taxes.
Note that your current lease will expire on 30th September 2021. After the expiry date, the new rent will be 280, 000FRS for a Single person in a room and 320,000FRS for two persons. Kindly let me know if you’ll renew the lease.
It’s my hope you’ll continue living on the property. I treasure the long-term relationship we’ve had as landlord and tenant.
If you need any clarification on the matter, contact me on [+237 677-XXX-691].
Thank you. We appreciate your continued tenancy.
Sample 2: Rent Increase Letter To Tenants
Your Name (Landlord/Caretaker)
Your Address (Landlord/Caretaker)
Name of Tenant
Address of Tenant
Re: Notice of rent increase
This letter is to formally inform you that starting on [DATE], the monthly rent for the house you currently occupy at the above address will be raised 10,000Frs from [AMOUNT] to [NEW AMOUNT]. The payment is due on the third of each month.
I hope you remain in the house. You have been an exemplary tenant and keep the house in good condition. I can be reached at [Phone Number] or by [Email Address] if you have any questions.
Your Signature (Landlord/Caretaker)
Name of (Landlord/Caretaker)
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