New Owner-Rent&Deposit Increase Notified on New Lease or Letter?

1 Reply

Hello,

I'm closing on a 4plex in California and want to notify the rent and deposit increases at close of escrow. Can I schedule out the increase on the new M2M lease agreement allowing 60 days before the increase begin, or do I have to renew the lease agreement with their current rent and deposit with the new landlord info and separately provide an increase notice? Thanks in advance for your help.

One notice is sufficient. I usually recommend the notice to include name and contact information of the new owner or Property Manager, where and how to make payments, that we will contact them within five business days to schedule a walk-through inspection, if we will require them to sign a new lease, etc. I usually include a form for them to fill out with contact information that I can collect during my initial inspection.

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