Commercial Lease Default Notice For Rent Increase California
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FAQ
Dear [TENANT NAME(S)], As indicated in your lease, your lease at [PROPERTY ADDRESS] will end on [LEASE EXPIRATION DATE ? write in full]. Please note that the monthly rent for the above [PROPERTY ADDRESS] will increase from [OLD RENT AMOUNT] to [NEW RENT AMOUNT] effective [DATE OF NEW LEASE ? write in full].
The law normally provides that if the tenant is in violation of the lease, the landlord must give the tenant a 3-day notice to correct the violation to avoid eviction. Commercial leases will often provide that if the tenant is in violation of the lease, a notice of more than 3 days must be given.
Under the provisions of the TPA, landlords are allowed to increase rents each year by 5% plus the applicable average increase in the cost of living in order to allow for inflation. There is a maximum increase of 10% allowed in any given year, thus the Act's provision is often referred to as a ?rent cap.?
What to include in a rent increase letter Date of the rent increase letter. Name and information of the tenant and landlord. Property address and unit number (if applicable). Reference to the expiration date of the existing lease. Current rent amount. Amount of rent increase. Date the rent increase will go into effect.
Landlords must also give tenants sufficient warning before increasing rent. If the rent increase is less than 10%, landlords must provide notice 30 days before the increase can take effect. If the rent increase is more than 10%, the landlord must provide notice 90 days before it can take effect.
