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A rent increase notice is a letter from a landlord to a tenant indicating a rent hike. It can be utilized for month-to-month rentals or after a fixed lease ends. To legally increase rent, landlords should follow these steps: 1) Determine the increase amount using area comparables from sites like Rentometer; 2) Review the rental agreement, as rent cannot be raised during a fixed lease; 3) Check state notice requirements—some states may necessitate a 30 to 60 days' notice. While landlords can raise rent significantly, they must consider the potential impact on good tenants, especially in municipalities with rent control.
