Landlord Question and Answer Forum

I have a tenant who currently has a lease who is supporting people with disabilities to reside in the home. My insurance has increased my premiums and I would like to recoup the increase. Can I do this before the lease comes for renewal (over 1 year away) if I only increase it by the amount of increase in premium?
Pamella D, Canada on Wednesday, September 4, 2013
RE: rent increase
Raising the price to an amount that is higher than the agreed upon rent would have to be a new contract that both parties need to write up and agree on. Or in the rental lease renewal you can issue a rate increase.
Posted by Richard W, PA on Sunday, October 13, 2013
RE: rent increase
Pamella, I agree with Richard W. unless you talk to your tenants and all agree then you can re-write the contract. Looks like you're trying to help them out. I have rental property and my rental is based on the going rate for the address in question(give or take a little)and because it is an "Investment Income" one wants to cover the required expenses with that rent.
Posted by Gladys F, FL on Sunday, October 13, 2013
RE: rent increase
Thanks Richard and Gladys. I think I'm going to have to go the route of asking for a new agreement. When I initially rented the tenants were a couple and were filed as such with the insurance provider. The provider asked me for an update on the tenent and I advised them that the couple had taken in 3 people with disabilities and the provider said it now needed to be classed a a rooming house as more than 3 people residing there were not related. Thus the premium increase. I was also asked to sign a document that said I would not make a claim if any damage was the result of vandalism done by the tenant. I hope they understand my position. I think what these people are doing is great and would hate if this comes across as a negative.
Posted by Pamella D, ON on Tuesday, October 15, 2013
RE: rent increase
Hi Pamela, It's unfortunate that this has occurred...there are Liability issues and that's why the Insurer had you sign this paper...ezlandlord has an addendum for when people go through what you're going through, this is a lesson for you that you need to explain to the people ...should they bring in more people they are subject to increase in rent. Go back to the beginning and look at all the addendums..I believe it's called "Guest Policy" .they're there for your protection. The other thing you should ask your tenants to obtain is Renter's Insurance which will release you to a degree of any Liability...I'm assuming this is a house you're renting out. What happens if there's a fire, or a theft...that goes against your Insurer...when if you ask the tenants for a Renter's policy that insurance company is responsible and you just saved yourself from a big headache. Good Luck, I go through and read all my pages when I do a lease because I know ezlandlord will show me and give me pointers. I did one recently, I had all kinds of information (pertenent to my state) and as a Landlord you are responsible for doing all you can to protect yourself in the event of a Loss and comply with the Laws where you live or in this case where you rent your property. My lease was 28+ pages.
Posted by Gladys F, FL on Wednesday, October 16, 2013
RE: rent increase
Hey Richard, I agree with you. As per the contract or rent agreement property owner need to be raise the rent. It is compulsory.
Posted by Alexis C, UT on Friday, January 23, 2015
RE: rent increase
20
Posted by jahfwkwi j, on Wednesday, April 3, 2019
RE: rent increase
20
Posted by jahfwkwi j, on Wednesday, April 3, 2019
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