A rental increase letter is not as important as a rent contract. These are letters sent by landlords to tenants and letting agents, informing them that the tenant has agreed to the rent increase, which is noted in the letter. Tenants usually ignore the letters, but there are a few ways to make sure you get the letter and that you’re able to give the tenant the price increase.
The first thing you need to do is use a rental contract that not only gives the landlord your own contact information, but also gives you permission to contact the renter. In addition, you should send a copy of the contract to the tenant’s landlord as well, along with the notice of rent increase. You don’t want the tenant to notice your added fees on top of the rent already paid and wonder what the problem is.
Always have a copy of the notice of the increase waiting for the tenant to sign before you send it. If the tenant signs a copy of the notice of increase before they see your price increase, chances are you’ll be in for a fight. They’ll ask you to change the increased amount or ask for the reason for the increase, and you may be able to satisfy them by providing a letter explaining the reason for the increased cost.
To use this method, you’ll need to use your rental contract to inform the tenant that the extra money you’re asking for is going to cover the extra fees you are requesting. In addition, you’ll need to show the price increase in the form of an annual percentage rate. The yearly rate should be lower than the regular rate. This will allow the tenant to read the increase every year, instead of each month, which means they’ll be better able to realize the costs.
Know that you may also have a right to raise the cost of the rent in certain cases. Most landlords in England do not have this right, but if they do, you must go through the right procedures to demand this right from the tenant. Otherwise, you could be forced to remove the extra fee before the tenant pays you.
You should never add an additional fee that you can easily pay off yourself. A renter should never be overcharged in this manner. Any additional fees you collect from the tenant should be taken out of their own pocket, rather than being used to raise the cost of the rent.
Some landlords charge more than others for the same amount of rent. Make sure that you stay within the normal range when you’re collecting the rent. This will ensure that you won’t have to negotiate further.
A rental increase is one of the most important parts of a lease. If you aren’t able to get it right, you’ll end up with more problems than you ever imagined. This way, you’ll always have an easy rent to collect each month, and you won’t have to worry about being evicted just because you don’t get the rent increase done properly.