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A rent increase notice is a letter from a landlord to a tenant informing them of a rent hike. Legal rent increases apply only to month-to-month rentals or after a fixed lease ends. Key steps for landlords include: 1. Deciding the amount to increase rent based on area comparables, using resources like Rentometer.com. 2. Reviewing the rental agreement, as rent cannot be raised during a fixed lease. 3. Checking state notice requirements, as some states mandate 30 to 60 days' notice before a hike. Landlords can generally increase rent as desired unless local rent control applies. However, they should consider the impact of the increase on tenant retention, particularly for valued tenants.
