We can’t stress enough how important it is to always bill tenants the current market rate (or very close to it just to stay competitive).
Remember you can only increase rent once in any 12 month period. A new lease is not needed to increase the rent.
- There is no good way to tell tenants they’re getting a rent increase, so just do it in a simple two line letter. Give 1 calender month notice (since they pay by calendar month).
“Please be advised that beginning 1st