Landlord Question and Answer Forum
I'm a 1st time home buyer looking to become a 1st time lanlord. Is it possible or has any one ever seen a lease agreement that dictates a 2 or 3 percent increase every year due to taxes?
EUgene M, AL on Saturday, April 25, 2009
RE: Annual increase in rent
Most leases I've ever seen or used have been for one year, after which they roll over to month to month, but all other terms remain the same.
The two most feasible ways to approach an annual rent increase is to either have the tenants sign a new lease every year, with a higher rent amount, or to sign a multi-year lease with a clause specifying the annual rent increases.
Hope that helps,
Brian
Posted by
Ralph F, CA
on
Saturday, April 25, 2009
RE: Annual increase in rent
The potential tenant wants to sign a long term lease for three years, we will probably have to research option 2.
Posted by
EUgene M, AL
on
Saturday, April 25, 2009
RE: Annual increase in rent
I know the lease builder in this site allows you to add custom clauses like that. I believe it's in Step 9
-B
Posted by
Ralph F, CA
on
Sunday, April 26, 2009
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