You have an apartment for rent, but the market is changing. You may have asked yourself: “Can I raise my tenant’s rent?” And the answer is yes. During a 5 or 7 year rental contract, as a landlord you can raise your tenant’s rent periodically, although you cannot do it lightly: you must adhere to specific deadlines and variables. At Housfy, we want you to be well informed and feel supported when renting a home . So, if that is your question, you are in the right article! Rent your apartment and forget about worries 0% late payment. We take charge if the tenant does not pay. GET INFORMED FOR FREE When can I raise my tenant’s rent? Article 18 of the Urban Leasing Law (LAU) establishes how and when an increase in the rental price of a current contract can be made. As a general rule: The rent can only be increased annually, on the date on which each year of the contract expires. We recommend, however, that you review your rental contract.
How do I calculate the rent increase?
The reference index that you must use will depend on the date of signing the contract and the update of the LAU that is imposed: Before the latest update of the Consumer Price Index is used. It will not be necessary for the contract to have specified anything regarding rent updates. Before, the landlord and tenant have complete freedom to update the rent using the Malta Phone Number List method that best suits them. The increase cannot exceed the variation of the Consumer Price Index at the update date. Starting in the landlord may increase the rent only if it is specified in the rental contract. So, it’s time to update and you wonder: how much can the rent go up when renewing the contract ? Let’s calculate it with the updated numbers.
Can my tenant reject the increase?
Your tenant cannot refuse the increase, if it is calculated as we have explained. However, within the law, the tenant can respond in different ways: He can present a counteroffer , which you may or may not accept, depending Bolivia phone number database on the situation. You can terminate the rental contract , always giving one month’s notice, if the contract does not stipulate otherwise. Remember that you can take out landlord rental insurance , which guarantees a payment at the end of the month. How much does a real estate agency charge to manage a rental? How can I raise the rent for my tenant? You can do it on your own, or you can hire a rental management company to help you with these procedures. At Housfy Rental , your apartment will be in good hands: we will