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How to shade ink in the Notice of Rent Increase

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hey bigger pockets nation its Brandon Turner landlord and author of the book on rental property investing so today my rental business is gonna be sending a letter to all my tenants and I thought I would share the exact letter with you in case you wanted to send one of your own as well so last week I released a video on bigger pockets and on YouTube and Facebook called are your tenants unable to pay rent due to coronavirus heres what to do that video walked you through exactly what were gonna do if a tenant is unable to pay well that has almost a hundred thousand views since that time in like less than a week so this is clearly a topic of concern for landlords today today I want to go even deeper into what were doing to prevent that from even happening but hey first look this video is meant for landlords but I know that some non landlords are gonna watch it so and theyre gonna have a field day in the comments like they did last time so let me put out two points on the table first n

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What does Section 1947.12 of the Civil Code mean?

(a)(1) Subject to subdivision (b), an owner of residential real property shall not, over the course of any 12-month period, increase the gross rental rate for a dwelling or a unit more than 5 percent plus the percentage change in the cost of living, or 10 percent, whichever is lower, of the lowest gross rental rate

How do I calculate my maximum rent increase in California?

Raising rent in California Landlords are allowed to raise rent by a maximum of 10% every 12 months. That means if the CPI change is above 5%, the maximum increase caps at 10%.

What is the maximum rent increase in California 2024?

Californias Tenant Protection Act (AB 1482) restricts how much landlords can raise rent for their rental properties. The law imposes a statewide rent cap, limiting annual rent increases to 5% of the current rent plus the local rate of inflation, or 10% of the current rent, whichever is lower. California rent increase laws for 2024 - RentSpree rentspree.com blog california-rent-increa rentspree.com blog california-rent-increa

Does AB 1482 apply to month to month?

Does AB-1482 only apply to month-to-month tenancies? No, the bill protects both month-to-month AND fixed leases if it is covered unit. The expiration of a lease alone is not cause for eviction. AB-1482 Frequently Asked Questions - City of Monterey monterey.org AB-1482-FAQs-Echo-Housing monterey.org AB-1482-FAQs-Echo-Housing

Who is exempt from California rent cap?

Exemptions. Keep in mind that certain properties are exempt from California rent control law. These types of properties include: Condos and single family-homes not owned by a real estate investment trust (REIT), corporation, or corporation-owned LLC.

What is the current CPI in California for rent increase?

As of August 2023, the maximum allowable annual rent increase is restricted to 8.8% (5% + CPI of 3.8%). Rent Increases - Consumer Business Los Angeles County lacounty.gov portfolio rent-increases lacounty.gov portfolio rent-increases

What is the maximum amount a landlord can increase rent in California?

10% The Tenant Protection Act caps rent increases for most residential tenants in California. Landlords cannot raise rent more than 10% total or 5% plus the percentage change in the cost of living whichever is lower over a 12-month period. Landlord-Tenant Issues | State of California - Department of Justice ca.gov consumers general landlord-tena ca.gov consumers general landlord-tena

How do I write a notice letter for a rent increase?

What a rent increase notice should include The date of the notice. Name and address of the property manager or landlord. Name and address of the tenant. Last day of the current lease. Amount of the increase. Date the increase goes into effect. Timeframe for tenant to accept increase or reject lease renewal.

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Shade ink in the Notice of Rent Increase