A little background before my questions:
I have a tenant in a property that was my primary residence. I had renters warehouse place her because at the time, I was not interested in renting, I wanted to sell our first house and had not prepared myself for renting or anything that went along with it. My experience with renters warehouse was actually great. She is planning on renewing the lease (current lease ends 1/31/17) and I have spoken to her about a 25 increase in rent for next year to bring the montly rent to 1620 per month.
1 - What is the process through MBQ for rent increase. I'm sure whenever there is an increase, the tenant will only pay a portion of that increase and the voucher will cover the rest?
2 - can I use the original renters warehouse lease and have her sign something that says something along the lines of "I am continuing the original lease for 12 more months and agree to 1620 month for that period" or do I need her to sign a new lease for 12 months?
Thanks for all your help, since renting in February of this year, I have learned a ton on this webiste and listening to the podcasts has been very informative. What a great resource!!!
I googled "MBQ for rent increase" and found the answer in their FAQ.
You can do a simple one-page lease addendum for the term extension and rent increase. If you need a simple addendum form, just message me and I'll give you a copy of the one I use.
Congrats on the increase and renewal!
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