Do you adjust deposits etc...when you raise rent?
For the landlords who do an annual lease renewal, if you raise rent, do you adjust the other numbers with it if originally those numbers were calculated from monthly rent amount?
As an example, let's say rent was $950/month and on renewal it will be raised to $1050/month.
Original security deposit was $950.
Original last month rent was $950.
Original nominal daily rate was $32/day (used when prorating is necessary).
Original early termination and liquidation damages was $1900 (2X monthly rent).
Do you bump all these to the new rate and collect from the tenant an additional $200?
I didn't do it in the past, but I had a 5 year tenant who's rent was up to $975 a month but the security deposit and last month's rent was still at $680. Besides it was difficult for me to remember all these numbers without looking up the leases. It seems a lot simpler to keep everything a multiple of the monthly rent and if the rent goes up they all go up.
But the tenants don't care for it.
Thoughts?