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109
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Jason V.
  • Investor
  • Milwaukee, WI
42
Votes |
109
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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?

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2,342
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Adam Bartomeo
  • Real Estate Broker
  • Cape Coral, FL
1,444
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2,342
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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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