Dear [Tenant's Name], I hope this letter finds you well. I am writing to inform you that there will be a rent increase for your [property address] starting from [effective date]. As your landlord, I wanted to provide you with ample notice and explain the rationale behind this decision. New Mexico Law mandates that landlords must provide tenants at least a 30-day written notice before implementing any changes in the rental agreement, including rent increases. This allows you the opportunity to make necessary adjustments to your budget and plan accordingly. The reasons for this rent increase are as follows: 1. Inflationary Costs: Over the past year, there has been a surge in inflation, leading to increased operational expenses. These higher costs encompass everything from maintenance and repairs to property taxes and insurance. Our goal is to ensure the continued upkeep and satisfactory living conditions of the property you call home. 2. Improvements and Investments: In order to enhance the overall living experience for our tenants, we have made substantial improvements to the property. Various upgrades, such as installing energy-efficient appliances and modernizing common areas, have been carried out to create a more comfortable and enjoyable environment. 3. Market Comparable: We have conducted thorough research and analyzed local rental market trends. It has come to our attention that current rental rates in the area have increased due to supply and demand dynamics. In order to remain competitive and provide quality housing options, we have determined that a rent adjustment is necessary. The new monthly rent will be [new rental amount]. Please note that all other aspects of the lease, including the terms and conditions, will remain unchanged. This increase reflects the current market value of properties similar to yours in the area. To finalize this rent increase, we kindly request your written consent. Please sign and return the attached form within [number of days] if you agree to the new rental amount. Alternatively, if you have any concerns or would like to discuss this matter further, please do not hesitate to reach out to our office. We are always here to address your questions or comments. We sincerely appreciate your understanding and cooperation during this process. Furthermore, we value your tenancy and strive to maintain a positive landlord-tenant relationship. Thank you for your attention to this matter, and we look forward to your prompt response. Yours sincerely, [Your Name] [Your Title/Position] [Contact Information] Keywords: New Mexico, rent increase, notification, landlord, tenant, written notice, rental agreement, inflationary costs, improvements, investments, market comparable, rent adjustment, lease, terms and conditions, property address, effective date, consent, rental amount, tenancy, landlord-tenant relationship.
Dear [Tenant's Name], I hope this letter finds you well. I am writing to inform you that there will be a rent increase for your [property address] starting from [effective date]. As your landlord, I wanted to provide you with ample notice and explain the rationale behind this decision. New Mexico Law mandates that landlords must provide tenants at least a 30-day written notice before implementing any changes in the rental agreement, including rent increases. This allows you the opportunity to make necessary adjustments to your budget and plan accordingly. The reasons for this rent increase are as follows: 1. Inflationary Costs: Over the past year, there has been a surge in inflation, leading to increased operational expenses. These higher costs encompass everything from maintenance and repairs to property taxes and insurance. Our goal is to ensure the continued upkeep and satisfactory living conditions of the property you call home. 2. Improvements and Investments: In order to enhance the overall living experience for our tenants, we have made substantial improvements to the property. Various upgrades, such as installing energy-efficient appliances and modernizing common areas, have been carried out to create a more comfortable and enjoyable environment. 3. Market Comparable: We have conducted thorough research and analyzed local rental market trends. It has come to our attention that current rental rates in the area have increased due to supply and demand dynamics. In order to remain competitive and provide quality housing options, we have determined that a rent adjustment is necessary. The new monthly rent will be [new rental amount]. Please note that all other aspects of the lease, including the terms and conditions, will remain unchanged. This increase reflects the current market value of properties similar to yours in the area. To finalize this rent increase, we kindly request your written consent. Please sign and return the attached form within [number of days] if you agree to the new rental amount. Alternatively, if you have any concerns or would like to discuss this matter further, please do not hesitate to reach out to our office. We are always here to address your questions or comments. We sincerely appreciate your understanding and cooperation during this process. Furthermore, we value your tenancy and strive to maintain a positive landlord-tenant relationship. Thank you for your attention to this matter, and we look forward to your prompt response. Yours sincerely, [Your Name] [Your Title/Position] [Contact Information] Keywords: New Mexico, rent increase, notification, landlord, tenant, written notice, rental agreement, inflationary costs, improvements, investments, market comparable, rent adjustment, lease, terms and conditions, property address, effective date, consent, rental amount, tenancy, landlord-tenant relationship.
