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Updated 10 months ago on . Most recent reply

User Stats

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

Most Popular Reply

User Stats

2,210
Posts
1,406
Votes
Adam Bartomeo
  • Real Estate Broker
  • Cape Coral, FL
1,406
Votes |
2,210
Posts
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
136 Reviews

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