wyantm06 Posted February 16, 2008 CID Share Posted February 16, 2008 My dad has been renting out a house now and he is getting on my case lol. He wants me to write a paper up explaining that rent will go up $100 due to the price of living going up. How would I right a paper on that? I am confused. If no one can help I understand. Thanks. Quote Link to comment Share on other sites More sharing options...
coknuck Posted February 16, 2008 CID Share Posted February 16, 2008 I'm sure when Tommie sees this he will know how to go about it! Quote Link to comment Share on other sites More sharing options...
wyantm06 Posted February 16, 2008 Author CID Share Posted February 16, 2008 I hope someone can help me My dad was going to go to a lawyer and have them do it but were going broke now taxes are killing him and so are the insurance companies for repairs. Quote Link to comment Share on other sites More sharing options...
derek22x Posted February 16, 2008 CID Share Posted February 16, 2008 Just explain everything about the cost of living going up and also the high taxes and other expenditures What state are you from by the way? Quote Link to comment Share on other sites More sharing options...
wyantm06 Posted February 16, 2008 Author CID Share Posted February 16, 2008 Just explain everything about the cost of living going up and also the high taxes and other expenditures What state are you from by the way? Pa Quote Link to comment Share on other sites More sharing options...
derek22x Posted February 16, 2008 CID Share Posted February 16, 2008 Oh cool How's the east coast? Quote Link to comment Share on other sites More sharing options...
mudmanc4 Posted February 16, 2008 CID Share Posted February 16, 2008 I'm sure when Tommie sees this he will know how to go about it! Definitly Tommie should have the right thing to say! Quote Link to comment Share on other sites More sharing options...
dlewis23 Posted February 16, 2008 CID Share Posted February 16, 2008 Just tell them rent is going up a $100 when your lease is up, due to cost of living increases. He is doing it when the lease is up right? Quote Link to comment Share on other sites More sharing options...
tommie gorman Posted February 16, 2008 CID Share Posted February 16, 2008 Ok first I'm gonna guess that he has never raised the rent and that you said dad well of course the rent goes up as time goes on and he never havng done this says well write me one then? First of all all tenants should be aware of it in the first place. I have never had trouble just tellng them. And usually it should go up like 2% per year. Doesn't sound like much but it really is. But a letter, I've never realy had to write one. Simple explanation of Taxes go up, insurance costs go up, and in general the worth of the house climbs annually. So really you just need an explanation letter. And give them 30 days before the change becomes effective in all fairness. OK. sort of: Dear tenant, Due to the cost of living increases due to increased taxes, insurance, and in general fees and upkeep on the home that you reside in we will now be increasing the rent on this particular unit accordingly by______ and as of now giving 30 days advanced notice of this action. If there are any questions please contact me at 1-800-555-1212. John Henry Property owner. I hope that helped and let me kmow if my guess was close. By the way there was a thread on this many moons ago. Also he should get a decent contract that has this in it already. Their cheap and available on the web for free if nothing else. Quote Link to comment Share on other sites More sharing options...
dlewis23 Posted February 16, 2008 CID Share Posted February 16, 2008 First of all all tenants should be aware of it in the first place. I have never had trouble just tellng them. And usually it should go up like 2% per year. Doesn't sound like much but it really is. Damn 2% I got ripped off then. My rent went up 5% last august. Maybe its really different in florida.... Quote Link to comment Share on other sites More sharing options...
tommie gorman Posted February 16, 2008 CID Share Posted February 16, 2008 That was a minimum and debateable. It can be what ever, but through section 8 thats the best one ccan hope for. And thats with the same tenant staying and not causing any problems. (no, not you Dlewis, never ) But up here that is rule of thumb. And when they move out a big raise is in order. Plus a NEW coat of paint. Quote Link to comment Share on other sites More sharing options...
dlewis23 Posted February 16, 2008 CID Share Posted February 16, 2008 That was a minimum and debateable. It can be what ever, but through section 8 thats the best one ccan hope for. And thats with the same tenant staying and not causing any problems. (no, not you Dlewis, never ) But up here that is rule of thumb. And when they move out a big raise is in order. Plus a NEW coat of paint. Yep, No problems here. even with the stripper pole Quote Link to comment Share on other sites More sharing options...
tommie gorman Posted February 16, 2008 CID Share Posted February 16, 2008 Well as long as it stays polished, and I'd get free tickets to the show I am sure it would be just fine. Quote Link to comment Share on other sites More sharing options...
wyantm06 Posted February 17, 2008 Author CID Share Posted February 17, 2008 Ok Tommie thanks a lot. The person renting from us doesn't have a lease. He is family and just rented from us. I appreciate all the help. Quote Link to comment Share on other sites More sharing options...
tommie gorman Posted February 17, 2008 CID Share Posted February 17, 2008 Always get a lease. I even gave my own brother one. Its the best way to do it always. that way no heart aches or misunderstandings later. Quote Link to comment Share on other sites More sharing options...
wyantm06 Posted February 17, 2008 Author CID Share Posted February 17, 2008 Always get a lease. I even gave my own brother one. Its the best way to do it always. that way no heart aches or misunderstandings later. Well we kind of made a deal, he does the repairs needed and we will give him rent cheap. He is renting a whole house for $400. YET he has not done repairs to get the insurance renewed. It needs new railing in front and back and siding patched. He didn't do any of it, so that's why were really raising it. Quote Link to comment Share on other sites More sharing options...
Dark06 Posted February 18, 2008 CID Share Posted February 18, 2008 in that case i would be like ok you been leaching off of us for _____ months the agreement was you fix it and cheap rent since this ha not been done we desrve the right to raise the rent $150 a month effective next month the ____ of ____ when your bill is due if in that time we see improvements the rent will only be increased by $75 or $100 That will make him do a quick trip to home depot Still $600 to rent a whole house is like giving it away in my side of the contry (austin, Tx) also make sure to specify what you want repair so theres no misunderstandings make a checklist of everything u want done Quote Link to comment Share on other sites More sharing options...
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