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Forum / Leasing Issues / Long Term Tenant Renewal
Current tenant has been there for 4 years. Lease is up for renewal, and we are increasing the rent $20 a month. Also, had to connect the house to our well because their well went dry due to the drought. So, we are going to charge a flat rate of $50 a month for water/electricity to pump the water. Obviously, they are upset with the rate increases. Do you see any problems with this? We are in Oregon. Also, do you have to allow a grace period on late rent? They have frequently been late on payment and I have adjusted to due date to later in the month, but I am tired of tracking them down for the rent. Can I just start assessing late fees the day after it's due? Thanks for your help!
Tamara C, OR on Thursday, April 16, 2015
RE: Long Term Tenant Renewal
Oregon doesn't have any rules on how much you increase rent when renewing leases. I don't see any problems with increasing the rent, especially since they have been continuously late during the 4 years. Also they have a 4 day grace period to pay rent before late fees apply, but kudos for accommodating your tenants and changing the rent due date. Good Luck.
Posted by Douglas B, MD on Friday, April 17, 2015
RE: Long Term Tenant Renewal
Thanks for the support!
Posted by Tamara C, OR on Friday, April 17, 2015
RE: Long Term Tenant Renewal
I don't see any problem with increasing the rent but with my6 personal experience would suggest you to do all the procedure in written agreement and not orally. I was cheated by my tenant and since then I always take advice from experts at http://www.mwfloridalaw.com .
Posted by Paul P, FL on Saturday, April 18, 2015
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