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.
Idaho Letter from Landlord to Tenant about Intent to increase rent and effective date of rental increase
State:
Idaho
Control #:
ID-1054LT
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Idaho Letter From Landlord To Tenant About Intent To Increase Rent And Effective Date Of Rental Increase?
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FAQ
The name of your tenant. The date. The property address. The lease expiration date. The date the rent increase will take effect. The amount of the increase. The current rental amount. Date the new rent will be due.
In most states, a landlord must give tenants notice at least 30 days before they'll enforce a rent increase. However, in other states like California, the notice can increase to 60 days' notice if the increase is more than 10% of the current rent rate.
A typical rent increase is around 3-5% annually.
Tenant's name. Property address. Landlord's name and contact info. Date the letter was written. Date the rent increase will take effect. Rent increase amount. Current rental amount. Date the new rent will be due.
The full names of both landlord and tenant. The type of property you are leasing. The location of the property. The type of tenancy (fixed term or periodic) Details about the rent (current rent vs. new rent and effective dates) Details about the lease (start date and signing date)
Tenant's name. Property address. Landlord name and contact information. Date the letter is written. Date the rent increase will take effect. Amount of rent increase. Current cost of rent.
There are no limits on the number of times or the amount a landlord can increase the rent unless there is a provision in the lease. A tenant can move rather than pay the increase. Idaho Code Section 55-307.
Remember you're a business. Do your research. Raise the rent all at once or incrementally. Don't negotiate or ask tenants what they think a fair rent increase would be. Be courteous and firm. Find a template you like. Send a formal letter by certified mail. Give the tenant notice.