Free to download Rent Increase Notice Template available in word and pdf format:
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What are rent increase templates?
A rent increase is a formal document that an owner of building or apartment issues to the tenant to inform him about an increase in the rent. It contains the exact rent and date when it will be implemented. It is a beneficial way of interaction between the tenant and the owner. The owner may include the valid reasons for the increase in the rent. However, the tenant can reject or accept according to his wish.
Check out numerous well-designed and free-to-download rent increase templates available in word, and pdf format.
Rent Increase Template
Significance of Rent Increase Notice:
- Rent Increase Notice is the written notice from the landlord to the renter to inform them increase in the rent.
- As a tenant, it is their right to receive rent increase notice in advance. You must send that notice about one month before its implementation. So being a landlord you must have sent rent of apartment or building to the tenants.
- Rent increase notice helps you as a landlord to openly communicate reasons to increase the rent with tenants.
- The rent increase can be rejected or challenged by the renters. It is only feasible when your organization is private i.e. not associated with the government.
What to include in the Rent Increase Notice Template?
Rent increase notice templates must be well-designed and well-elaborated so that they serve their purpose to the full. If a rent increase notice is not complete, it may result in ambiguity and confusion. So to design a rent increase template you need to add the following things to make it the best way to deliver your message to the tenant.
1. Tenant Information:
You need to include tenant information like name, address, contact details like phone number, email address, etc. You add such type of information even informal letters.
2. Rent details:
You need to add rent details to the notice to make it effective. Rent details include preceding rent which means rent you are charging since now. The rent you are charging must be reasonable and according to the rental laws of your country. You have to include the new rent in the body of the notice following the last rents. New rents will be effective only if the renter or tenant accepts the rent increase.
3. Date when increased rent will be effective on:
You need to mention the date when the increased rent will be effective on implemented. It must be accurate so that there is no chance of misinterpretation. You should send a notice about one or two months before the intended date. It is healthy practice so that you can discuss increased rent with your tenants.
4. Landlord’s details:
You can also include your details like your name, contact number, and other information
Like address and how to reach you.
5. Affirmation from the tenant:
You need to write a proper affirmation letter in the end where a tenant has to sign and approve the increase in the rent. It is a very healthy practice so that tenant has not to himself design another notice to send affirmation of the rental increase.
6. Signature of both parties:
No one can deny the importance of the signature on a contract. It shows that both parties have agreed to the terms and conditions. You need to specify a proper space for your and renter’s signature. You need to properly place your signature at the end of the body of the notice. So that it is an affirmation of the fact that parties have read and agreed to the cause of the notice; here cause is that landlord wants to increase the rate of the apartment or building.
It is difficult for you to design a proper rent increase notice? Well, we are providing you with the best and most well-designed templates. Download free rent increase template
Remember to include the reasons for the rent increase:
Rent Increase Notice templates must include the proper body of writing. Along with other details like increased rent amount and date when it will be effective from you also must need to add details like why there was a need to increase the rent. There can be many reasons to increase it. Let’s discuss some of the reasons:
- The landlord may increase rent to match the current market rates.
- An increase in rental rates can be noticed if an owner wants money for the maintenance and upgrading of the apartment or rented building.
- Inflation in-country or region is the biggest reason that the owners define as the cause of the increase in rent rates of the rented place.
- Similarly, rent can also be increased by the landlord to gain more profit. In that case, the increased percentage of the rent must be legal and according to rental laws. To check whether your landlord has imposed a legal increase rate or not, you need to compare it with the rental rates in the market.
By declaring such reasons in the rent increase notice, it is most likely that you can convince tenants.
How to customize Rent Increase Notice Template?
The rent increase notice template must be detailed and well-designed to be convincing for the tenant. You can download our best-designed templates for free that are available in word and pdf format. Follow some steps to customize the downloaded template:
- Hit the download button to download the best rent increase notice templates of your own choice.
- Open the template in either format.
- Now add the details in the specified area like tenant information, your information.
- The next step is to fill the empty spaces in the body of the notice like increased amount, original amount, etc.
- Review the whole notice once you have completed the formatting.
- Save the file and your document is ready to go.