Raising the rent - Landlord Forum thread 352886

Raising the rent by Cheryl (Ca) on June 22, 2017 @15:57

In April I raised the rent on my single-family home by $25 per month. The monthly rent is now $1875, this is below market value by $75-$100 per month.

We have experienced a lot of expenses in the last few months. Increased property taxes, increased insurance, hot water heater replacement , tree removal. I would like to increase the rent with a 30 day notice by $25 per month.

Does anyone else increase the rent more than once a year due to increased expenses?

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Re: Raising the rent by Garry on June 22, 2017 @18:29	[ Reply ]

If your Ts are on a M2M lease, you could raise the rent every other month if you wanted to. The real question is, will your Ts want to move if you increase the rents again? Remember, your Ts could care less about YOUR expenses. They only care about whether they are getting a nice place to live, for the price. Even if you believe your rent is below market value, will you Ts view it that way. Given your figures, you appears to be only about 7% below market value. and your increase would make it about 6% below. If your Ts decide to "shop around" you could lose them for a measly $300 per year. I would suggest "biting the bullet" for a year before raising rents again.

Re: Raising the rent by Anonymous on June 22, 2017 @19:16	[ Reply ]

California has very specific requirements on raising rents which must be followed precisely in order to be effective. A California landlord should be aware of the law. Some of the requirements are; Rent cannot be increased during the term of the lease, unless the lease allows rent increases. The landlord must give at least 30 days' advance notice if the rent increase is 10 percent (or less) of the rent charged at any time during the 12 months before the rent increase takes effect. The landlord must give at least 60 days' advance notice if the rent increase is greater than 10 percent of the rent charged at any time during the 12 months before the rent increase takes effect. Other requirements that must be followed are in delivery of notice of increase and timing.

Re: Raising the rent