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Updated 1 day ago on . Most recent reply

User Stats

104
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Jason V.
  • Investor
  • Milwaukee, WI
39
Votes |
104
Posts

Rent Increase Payment new month to month signed.

Jason V.
  • Investor
  • Milwaukee, WI
Posted

I have a tenant that wishes to go month to month for about two months after their contract expires June 30th, as they are relocating. I notified them a month prior to the current yearly contract that rent would be increasing $50.00. They agreed and asked if they should pay the increase the 1st of July. I haven't signed a month-to-month lease with them yet. I was wondering if they need to sign a month-to-month contract first prior to them paying rent or if there is an agreement for text string?

  • Jason V.
  • Most Popular Reply

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    1,944
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    Adam Bartomeo
    • Real Estate Broker
    • Cape Coral, FL
    1,187
    Votes |
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    Adam Bartomeo
    • Real Estate Broker
    • Cape Coral, FL
    Replied

    Its always best to have a lease signed and especially if there is a change. A verbal lease becomes a "he said, she said". We always have the M2M tenants sign a lease so that everyone is clear.

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    Bartomeo Property Management
    4.7 stars
    112 Reviews

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