Annual Rental Increases

[Riley Jordan]

How are you wording annual rental increases in a new lease agreement and how much are you increasing? 

[Anthony Wick]

Just do a lease addendum to address the new rent amount and length of lease. Both parties then sign the addendum. All other terms of the original lease remain the same. What the new rent is should depend on your local market. I do not do automatic increases. I evaluate the market rent and set it accordingly.