This is a letter to tenants regarding rent increase.
Colorado Letter - Notice To Tenants Announcing Rent Increase
State:
Multi-State
Control #:
US-1110LT
Format:
Word;
Rich Text
Instant download
Description
How to fill out Letter - Notice To Tenants Announcing Rent Increase?
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FAQ
What to include in a rent increase letterDate of the rent increase letter.Name and information of the tenant and landlord.Property address and unit number (if applicable).Reference the expiration date of the existing lease.Current rent amount.Amount of rent increase.Date the rent increase will go into effect.More items...
Your landlord normally has to give you at least 4 weeks' notice in writing before a rent increase.
Is There a Rent Increase Limit? There is no limit placed on the amount a landlord may increase rent in the state of Colorado.
The Tenant Protection Act of 2019, also known as AB 1482, permits annual rent increases of 5% plus the CPI per year, up to 10%. This means that the minimum a landlord can increase rent is 5% per year.
This inflation rate varies every year between 1% to 4%. The Tenant Protection Act of 2019, also known as AB 1482, permits annual rent increases of 5% plus the CPI per year, up to 10%. This means that the minimum a landlord can increase rent is 5% per year.
With regards to notifying my tenants of the rent increase, I send them an email or letter two months before their contract ends, asking if they wish to stay for another year, whilst letting them know what the new rent will be. I also send out their new contract with the increased rent added.
Can my manager raise my rent during a pandemic? If the lease is expired, a housing provider is entitled to adjust rents. However, the Colorado Apartment Association is encouraging housing providers not to raise rent during the COVID-19 pandemic.
If your tenant pays their rent monthly or weekly you must give at least one month's notice of a proposed rent increase. However, it is good practice to give them two months so they have more time to find another home if they feel the increase is too high.
Colorado Renters' Rights and Landlord Responsibilities Rent Raises Landlords must give at least ten days notice in month-to-month leases with proper written notice to the tenants. There are no rent controls in Colorado, so Landlords are allowed to raise the rent.
