rent raise by armenh

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Dear , As you know, the term for your lease on the unit you are renting at _____________________ will be ending on __________, and at that time it will change to a month to month. I would like to extend the offer to you to sign a new one year lease ending on ___________. To manage this rental business successfully, it is necessary that all rents be maintained at market value. After viewing several apartment units within a couple of miles that are in the same condition I have found that current markets rents in (city) are running at approximately ___ cents per square foot. The unit you are now renting is ____ square feet per the appraisal we received during the acquisition of the building, and I will be renting it at approximately ______ per square foot. Presently your rent is $_____ per month (plus $____ for water/sewer/garbage). If you choose to stay (and I hope you do), your new rent will be $_____ per month plus $____ for water/sewer/garbage, which totals to $_____ per month, a $_____ increase. This will be effective on __________. Please let me know if you plan to stay and wish to sign another lease. It is a pleasure having you as tenants and I appreciate your business. Please feel free to contact me if you have any questions or concerns. Sincerely,


								
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