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A rent increase notice is a letter from a landlord to a tenant informing them of a rent hike, applicable only for month-to-month rentals or after a fixed lease expires. To legally increase rent, landlords should follow these steps: Step 1: Determine the increase amount using area comparables from sites like Rentometer.com. Step 2: Review the rental agreement, as rent cannot be raised during a fixed lease. Step 3: Check state laws for the required notice period, which can range from 30 to 60 days. Landlords can generally raise rent as much as they want unless rent control applies. It's advisable to consider the potential impact on good tenants when deciding on the increase.
