Rent Changes!
How to Give Tenants Notice
Thinking of raising the rent on a month-to-month lease? Here's what you need to know:
- Check the lease agreement first. Did you include a clause about rent increases? If so, it should mention the new rent amount or how it will be calculated.
- Give your tenants plenty of notice. They'll need at least two months' written notice before the increase takes effect.
- Wait at least 12 months. You can't raise the rent more than once a year, even if the lease continues month-to-month.
Tip: It's always a good idea to follow the advice of the Residential Tenancies Authority (RTA) to avoid any misunderstandings with your tenants.
Raising rent during a fixed-term lease with a special clause? Here's what to do:
- If your lease agreement has a special clause allowing rent increases during the fixed term, you'll still need to give the tenant a separate written notice.
- There's no official form, but the notice must clearly state the new rent amount and the exact day the increase starts.
- Important: If you used a different special clause, check with the RTA for specific notice requirements. It's also a good idea to consult a lawyer to ensure your notice complies with your specific clause.
Remember: Even with a special clause, following the RTA's guidelines and potentially seeking legal advice can help avoid any confusion or issues with your tenant.
