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New Jersey Letter from Landlord to Tenant about Intent to increase rent and effective date of rental increase

State:
New Jersey
Control #:
NJ-1054LT
Format:
Word; 
Rich Text
Instant download

Description Letter Increase Rent

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.
Free preview Landlord About Rent
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How to fill out Tenant About Rental?

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Letter Of Rent Increase To Tenant Other Form Names

Landlord Rent Increase Letter   Rental Increase Notice Form   Tenant Increase Rent Letter   Letter To Tenant To Increase Rent   Rent Increase Notice Form   Sample Letter To Tenant To Increase Rent   Rental Increase Notice  

Notice Of Rent Increase Form FAQ

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.

Essentially, this means your landlord can only raise rents if they're in line with the current market. The AST often has a section suggesting how much rents could increase by. The percentage is typically between 0.5 and 5%, with market rents expected to be somewhere in that bracket after a 12-month AST comes to an end.

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.

If the landlord wants to increase the rent, he or she must abide by the percentage of the CPI three to 15 months prior to the end of the lease. The allowable rent increase should never exceed 4% in any consecutive 12-month period.

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.

If the landlord wants to increase the rent, he or she must abide by the percentage of the CPI three to 15 months prior to the end of the lease. The allowable rent increase should never exceed 4% in any consecutive 12-month period.

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.

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New Jersey Letter from Landlord to Tenant about Intent to increase rent and effective date of rental increase