Landlord Question and Answer Forum
My tenants lease is up for renewal in March. Due to increases in property tax can I increase the rent? If yes, is it a 30 day notice along with the renewal of the lease? The other question, can I non renew a lease if the tenant paid late every month over the last year?
This is a Texas property I am referring to.
Thank you
Vickie F, TX on Monday, January 25, 2010
RE: increase in rent
Vickie...you can increase the rent any time you want, provided you're not still in the lease time frame or not regulated by laws in your area. However, you need to consider what your rent is vs the going rate in the area and how your property compares to others as well as will the increase force tenants to move. It cost $$$$ getting the place fixed up for new tenants not to mention loss of income while you're fixing the place up and finding a renter. Check the papers to see how many units are for rent. If there's a lot, you may want to make a small increase or even hold off until the market changes. keep us up to date. It's always nice to know what your choice was and why so others can learn from you. Good Luck!
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