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A rent increase notice is a letter from a landlord informing a tenant of a rent hike. Such notices can only be issued for month-to-month rentals or at the end of a fixed lease. To legally increase rent, landlords should follow these steps: 1) Decide the increase amount by comparing local rates using resources like Rentometer.com. 2) Review the rental agreement, as mid-lease rent increases are generally prohibited. 3) Check state regulations regarding notice periods; while some states have no requirements, others may mandate 30 to 60 days' notice. Landlords can raise rent significantly unless in a rent-controlled area but should consider tenant retention, especially for valuable tenants.
