How to write a rent increase letter properly

It’s the leasing season and you are thinking of whether you want to increase rent and how you want to increase it. At the end of the day you will have to write a rent increase letter and this is how you should go about it.

Communication is of utmost significance here. The rent increase notice serves a dual purpose. It informs the tenant of the rent increase and also officially documents it. When you write the rent increase letter you need to write it in a polite manner. You also need to keep it professional and to the point. There are many templates available online to make your job easier. Whichever way you proceed remember that money is a sensitive subject hence communicating with empathy and warmth will help remind the tenants that you as a landlord value their worth as humans. The tone of your letter might also convince undecided tenants to stay.

When you write the greeting, make it a point to use the tenant’s name instead of “ dear tenant”. It is also suggested that you make the subject of the notice as “Change in rent notice” in place of “rent increase notice”. This helps in that it doesn’t make the tenant go on the defensive right away. In the body of the letter mention that they can contact you if they have questions and remember to thank them for being your tenant. When you end the letter, sign off by using a personable closing like “thank you”, “sincerely” or “all the best”.

Although it is recommended to keep the letter concise, it would do no harm to include an explanation as to why you’re increasing the rent. It could be due to factors like rising cost of conveniences, improvements or even new city fees that are out of your control. This added layer of transparency shows why you are doing what you are doing and helps the tenant understand. This warm touch will make the letter seem less like an outright demand and more like an amiable agreement.

Include the following in your rent increase letter:

• Tenant’s name
• Property address
• Name of landlord and contact information
• Date of writing the letter
• Date of rent increase
• Amount of rent increase
• Current rent cost

While sending the rent increase letter, you can send it by mail or even deliver it by hand, with a return receipt. This is because you want to ensure that your tenant acknowledges the letter. If you are looking for a property management company to help you with the nitty grittes, look for Property Management Company in Oklahoma, Oklahoma property management, Property Management Company in OKC, Property Management in Oklahoma City, or Property Management.