Missed giving rent increase notice
My tenant's one year lease is up for renewal on 2/1/2023. I just realized I should have given them their lease renewal options on 12/1/2022! I spaced making a calendar reminder.
I am planning on increasing the rent by $120 (5%) upon renewal. Can I renew their lease on 2/1/2023 with the stipulation that the new rent amount will take effect on 3/1/2023 (almost 90-day notice)?
Thanks,
Tom
In many locations, lack of a new lease means the lease converts to month-to-month. Many leases have a rent increase for month-to-month. In other words, you may not have lost much even if your new lease kicks in one month late.
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@Tom Cook what does your lease say? If is says this lease becomes MTM after the 12 month term-it very likely says something similar, then yes you can send notice 2/1/2023 and make the rent increase take effect 3/1/2023.
Quote from @Tom Cook:
I just did a quick search and found this: https://www.cityofvancouver.us...
This is a city website and it says you have to give 45-day notice of rent increase and 60-day notice of termination. Call the City on Monday to verify. It looks to me like you are fine.