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A rent increase notice is a letter from a landlord to a tenant indicating a rent hike. Such notices are applicable only for month-to-month rentals or after a fixed lease ends. To legally increase rent, landlords should follow these steps: 1. Determine the rent increase amount using area comparables from websites like Rentometer.com.2. Review the rental agreement, as rent cannot be raised during a fixed lease.3. Check state laws regarding notice periods; some states require 30 to 60 days' notice prior to raising rent.While landlords can generally set rent increases as they choose, those in rent-controlled municipalities must adhere to local regulations. It's important to consider the impact of the increase on tenant retention, especially for valued tenants.
