Investor · Saint Paul, MN · Member since 2016 · 13 posts · 6 votes
Hi, Looking for some input on wording when renewing a lease for an existing tenant. The rent needs to be raised this year 2018, taxes increased and so did maintenance costs. If a tenant does not respond to the renewal notice that is sent with a self addressed stamped envelope enclosed, can the rent cost still be increased ?
Can I put in the notice that if we don't hear back by the 60 days deadline, per the lease, this will act as your notice to vacate. I will send this out up to 90 days before. The lease states a 60 days notice. Any opinions would be appreciated.
Provided you follow state regulations and a notice, separate from the new lease , is sent in accordance with the regulations the rent increase will take effect per the notice.
Provided you follow state regulations and a notice, separate from the new lease , is sent in accordance with the regulations the rent increase will take effect per the notice.
Check your local laws, but where we operate, we send a rent increase notice to the tenant (60 days notice required for us) and there are two options from here:
If we don’t hear back, after the 60 days pass, their lease becomes month-to-month and the new rent amount kicks in. If they don’t pay the new rent amount, we follow the same procedure we do with someone who doesn’t pay rent or partially pays rent.
If we hear back, it’s either positive (we sign another 12 month lease) or negative (they inform us they want to leave).