Following up on yesterdays article “Landlords’ frequently asked questions.(part 1)” here are a few more popular questions landlords ask.
4. If I want to increase the rent may I do so at any time?
The short answer is NO.You have signed a contract that guarantees the amount of rent a tenant must pay for the full term of the lease. However you may include a clause in the contract that states that you can increase their rent if certain specific things take place, like if the rates go up.
5. May I increase the rent as much as I want to?
Again the answer is NO.You need to state in your lease agreement with the tenant how much you are going to increase the rent upon renewal of the lease.This needs to be a reasonable amount, usually only 10%.If you do not have this clause then you need to negotiate an increase that you and the tenant find acceptable.
6.My tenant says he has paid the rent, but i haven’t received anything yet.
It is of course the tenants responsibility to ensure that you are paid, therefore they must be able to provide some proof of payment. If they cannot you are entitled to give your tenant notice and have them legally evicted. Likewise if you know you have been paid you must be able to provide your tenant with a receipt.
Tell us how keeping records of any payments received/made has helped you in the past.
