Virginia Letter from Landlord to Tenant about Intent to increase rent and effective date of rental increase
About this form
This form is a Letter from Landlord to Tenant about Intent to increase rent and effective date of rental increase. It serves as an official notice that informs the tenant of the landlord's intention to raise the rent once the current lease term expires. This letter outlines the options available to the tenant regarding their lease and any changes in rental terms, distinguishing it from other types of lease agreements or notices.
Main sections of this form
- Reference to the original Residential Lease Agreement and its date.
- Property address where the lease is applicable.
- Expiration date of the current lease.
- Options for the tenant regarding lease renewal or vacating the premises.
- Contact information for the landlord or authorized agent.
Common use cases
This form should be used when a landlord intends to increase the rent for a tenant once their current lease term has expired. It is essential when the landlord wants to formally communicate the new rental terms and provide the tenant with the necessary information to decide whether to renew the lease under the new rate or vacate the property.
Intended users of this form
- Landlords looking to inform tenants about a rent increase.
- Property managers acting on behalf of landlords.
- Tenants needing clarity on their rights regarding potential rent changes.
Completing this form step by step
- Identify the parties involved in the lease, including the landlord and tenant.
- Specify the property address to ensure clarity about the rental location.
- Enter the date of the original lease agreement and the expiration date of the current lease.
- Provide the new rental amount and effective date for the increase.
- Sign the letter to validate it and include your contact information.
Notarization guidance
This form does not typically require notarization to be legally valid. However, some jurisdictions or document types may still require it. US Legal Forms provides secure online notarization powered by Notarize, available 24/7 for added convenience.
Avoid these common issues
- Failing to provide sufficient notice to the tenant before the rent increase.
- Not including essential dates or property details, which can lead to confusion.
- Using unclear language that may not comply with state law requirements.
Why complete this form online
- Easy download and editing options to personalize the document.
- Access to reliable templates drafted by licensed attorneys.
- Time-saving process as you can complete the form at your convenience.
Form popularity
FAQ
Name the parties. A simple rental agreement form needs to name the parties signing the lease and where they live. Describe the premises. Define the term of the lease. Set how much rent is owed. Assign a security deposit amount. Finalize the lease.
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'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.
Names and addresses of the tenant and the landlord. Signatures of the tenant and the landlord. Monthly rental amount. Security deposit. Maintenance charges. Period of stay. Responsibilities/rights of the landlord. Responsibilities/rights of the tenant.
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.
A typical rent increase is around 3-5% annually.
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.
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.
