Rent increase: how much notice do you give/get?

moonshadowMarch 24, 2007

Just curious about other landlords policies or tenants experiences.

Landlords, if you're going to increase the rent, how much advance notice do you typically give (and any pertinent reasons).

Tenants, how much notice, based on your past personal experience, have you been given before a rent increase?

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mike_73

I have been a landlord for just over a year now. I have not raised the rent from what the other owner charged. I have thought about, but I live in my building and I'm not in it for a big profit just looking to have a nice place to live thats not going to cost me alot over the long haul. If I did I would have many good reasons for doing so. Since I bought the place I have been working to fix it up. I have establised a nice lawn, improved the electrical and plumbing. installed a new more reliable heating system, painted outside and more. plus the proberty taxes have gone up as well as the cost of natural gas for heating both which are costs the rent for any property has to cover.
If I were to raise the rent I would be justified because the cost of running the place has gone up and I have made improvements to make it a nicer more livable place, so that its worth more.

    Bookmark   March 25, 2007 at 5:21PM
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coolmama

I think it has always been a 3 month notice for us...before the signing of a new lease.

    Bookmark   March 26, 2007 at 4:36AM
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mike_73

on a month to month lease 30 days would be the minimum required unless the state you are in has different laws. I would give 2-3 months notice so that tenants can prepair to put the larger rent in to their budjet.

    Bookmark   March 27, 2007 at 8:04AM
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vtchewbecca

We get about 1-2 months. We're on month-to-month. It goes up about the same time each year....glad we're getting ready to buy a house!

    Bookmark   March 29, 2007 at 8:41PM
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