How to raise the rent and add new terms on garage rentals?
Posted on 22 February 2009 by admin
I want to raise rent on grge tenant.How do I go about this in the right manner and can i just follow existing contract w/ my new changes?
You can not do that until the current lease ends. At that time you can make any changes you want and raise the rent. It's not a good idea to raise rent more than 10% or you may find your tenants looking to rent somewhere else
You are going to have a tough time raising the rent in the middle of a written lease term. If you have a renewel-coming up you can raise the rent to what-ever you want.. Add stipulations to your standard lease as to non-permitted actions and have the tenant initial the stipulation—this way they cant claim they missed it. If you are working off an oral agreement—-get out of that arrangement and issue a lease–if they dont like your terms give them 30 days notice to clear out.
References :
Landlord
You can not do that until the current lease ends. At that time you can make any changes you want and raise the rent. It's not a good idea to raise rent more than 10% or you may find your tenants looking to rent somewhere else
References :
I am a landlord