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Video instructions and help with filling out and completing Sample letter from landlord to tenant notice to vacate in india
Instructions and Help about Sample letter from landlord to tenant notice to vacate in india
Hi I'm Paul V Chesky Nebraska landlord calm and today's discussion is what are the notice requirements for raising the rent so first of all it's a common question that I give that first of all when should landlords and Nebraska raise the rent well understand that you're running a business and it's a for-profit business so we we raise the rents when the markets will support the increase any time the landlord raises the rent obviously he runs the risk of losing the current tenant however if if the tenant and a lot of times it the tenant will initially resist or or threaten to move but if the market will sustain the rent we really don't care because that tenant may move but we're gonna be able to find another tenant that's going to pay the the the new market rate so the answer is anytime you raise the rent we raise the rent when the market will support the increase landlords you simply inform the tenant about other properties and what they're renting for in the area that's a great way to take that to take that argument away and obviously in the end if they don't stay or they threaten not to stay or they're serious about moving you as the landlord have to make a business decision whether or not to accept the lower rental rate or and keep the current tenant or let them move and get get a new tenant alright so a couple things I want to talk about when we're providing or raising the rent here first of all we got to talk about notice requirements very important the statute is very strict in the process that you have to follow so if you have a rental agreement with a fixed expiration date typically this is a one or a two year lease but it can actually be a six month or a three month lease the point is it has a fixed expiration so on December 31st the the lease ends so we have it written in it's not a month a month when there is a rental agreement with a fixed expiration date between the landlord and the tenant that specifies the amount to the rent it cannot be raised during the term of the lease agreement so we have to wait till that lease agreement ends before we can raise the rent if it's a month-to-month or in the legal jargon we call it a periodic tenancy in a month a month situation landlord must give proper notice to the tenants that the the rent will be going up we call it typically a 30-day notice it's not really a 30-day notice and I'll I'll explain that here but don't forget if you want to raise the rent let's say you're gonna raise the the rent effective December first you would need to give notice to your tenant on or before October 31st so as you can.