How did you present a rent increase

[Takeo Kingi]

Hey guys,

I’m about 3 months away from having to renew my renters lease. I know this is an odd time, so two questions.

First what’s your thought on increasing your rent during this time (my tenant is in the medical field and still working).

Second, how did you present the rent increase when the least came up for your tenants.

I don’t plan on increasing rent much because of the virus but I did want to implant a small increase.

Thanks for the input!

[Nathan Gesner]

I have a form letter that keeps it professional, provides them with some options, and requires them to choose one. Here's a very simple example:

Dear Tenant,

Your lease is expiring on ________. After a review of our records, we've decided to offer you the following options. Please initial your choice and return to us no later than ________.

1. Terminate my lease on the current schedule. I understand I must vacate the home no later than the lease expiration date listed above.

2. Renew for an additional one-year period at a rate of $_______. Your new termination date will be ________. All other terms and conditions of the original agreement remain in affect unless agreed to in writing by all parties.

3. Extend on a month-to-month basis with a 25% increase. Your monthly rate will be $_______. Under this option, Tenant may give notice of intent to terminate by serving Landlord with a 30-Day Notice in writing.

We look forward to hearing from you soon!

Landlord