This is a notice provided by the Landlord to Tenant explaining that once the lease term has expired. Tenant has the option of vacating the premises or remaining on the premises provided that they abide by the posted rent increase.
Increase Rent Re Without Section 13
State:
Virginia
Control #:
VA-1054LT
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Virginia Letter From Landlord To Tenant About Intent To Increase Rent And Effective Date Of Rental Increase?
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FAQ
Hear this out loud PauseMost leases have a ?rent review clause? where the rent is 'adjusted' or 'reviewed' after a set period of time. The lease will set out when and how this is to be done. The idea is that the landlord keeps on getting the ?market rent? for the property.
assessment of rent, often by reference to the market rent for comparable properties equivalent to a new lease of the property on the review date by a willing landlord to willing tenant for the actual property and terms of the existing lease, but subject to various assumptions and disregards.
Hear this out loud PauseIf you get a section 21 notice, it's the first step your landlord has to take to make you leave your home. You won't have to leave your home straight away.
A rent review is where your landlord reviews the amount you often pay them for your occupation of their property. If your commercial lease agreement has a lease term longer than five years, it will likely contain a rent review clause.
Hear this out loud PauseDear [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].