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Seoul Man | I'm a landlord. Can I raise the rent without a signed lease renewal? |
I have a tenant who's been living in my CA rental home for 3 years. Great tenant who's never signed a lease renewal after the first year. Can I raise the rent in the middle of the year by over 10%, and if so, how must I do this? I'm significantly under market right now. |
 |
 
I Buy And Sell Houses
|
Check your original lease. It probably provided that, at expiration, it went month-to-month. If that's the case, then you can adjust any of the terms or conditions you want on one month's notice. And that includes raising the rent.
Having said that, check with your local city or county to make sure you're not in some rent control situation...to make sure that there aren't any city or county prohibitions against that amount of a rent increase.
But, if your lease did revert to month-to-month after the first year, then you can raise the rent (or terminate the lease, if you chose to) on one month's notice. Just read the lease carefully.
One other point, though: There's real value in a good, long-term tenant. I've got a rental property, and when I have a good tenant I don't mind at all renting it at slightly below market rent (that is, keeping the rent flat from year to year). So, while you shouldn't be "giving away" your rental, factor in the value of a good long-term tenant.
Hope that helps. |
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Mrs.H
 |
I believe so, my former landlord just sent us a letter letting us know that he was raising it to. He gave us enough notice that if we did not want to stay there, we would have time to get out (we had a year lease, and then did not renew so it automatically went to a month-to-month) |
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wendy_da_goodlil_witch
 |
my landlord did. I got 2 or 3 raises in rent over a couple of months. |
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godged
|
Sure you can, give 30 days notice and raise the rent. I would suggest you get the tenant committed to a lease again though. |
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snowandsun
 |
Yes. My understanding is that you entered into a one year lease with him, and once that lease expired he's just stayed put without entering into a new lease with you. When this happens, a month to month tenancy is presumed. You can raise rent, as much as you want (assuming rent control is not an issue there, and since you say it's a rental home in CA I'm comfortable saying that's not an issue). You just have to give him/her 1 month and 1 day notice. So if you wanted to raise their rent, and you told them today, the rent increase could be effective no earlier than 10/1. You need to give at least one month's (one rental period, since you are now month to month) notice. |
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Lex
 |
You can but there's a limit on the percentage you can raise and usually there's a form that you have to give the tenant as notice. Check with your local landlord tenant board. |
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Trouble
|
No lease renewal is a month to month agreement by default.
As long as rent control does not affect your rental, yes, you can increase the rent.
You must give the tenant at least 30 days' advance notice if the rent increase is 10 percent (or less) of the rent charged at any time during the 12 months before the rent increase takes effect.
You must give the tenant at least 60 days' advance notice if the rent increase is greater than 10 percent of the rent charged at any time during the 12 months before the rent increase takes effect. |
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Scrat
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No. |
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Takashi H
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No you cannot. My best suggestion to you is to sell your property and reallocate to another area, or invest through money marketing. |
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