Lease Renewal and Rent Increase Letter

A lease renewal and rent increase letter is a formal communication from a landlord or property management company to a tenant regarding the extension of their lease agreement and any adjustments to the rental rate. This letter serves as an notice to provide tenants with the option to renew their lease while informing them of any changes in rental terms.

Typically, a lease renewal and rent increase letter includes the current lease expiration date, the proposed renewal period, and the revised monthly rent amount. It may also outline the reasons for the rent adjustment, such as rising operational costs, property maintenance, or market rate fluctuations. Additionally, landlords often offer incentives for early renewal, such as discounts on the first month's rent under the new terms.

This type of letter should state the deadline for the tenant to respond and provide sufficient time to make a decision. It should also provide contact information in case the tenant wishes to discuss the new terms or negotiate any changes.