Registered: 1520180641 Posts: 4
Reply with quote #1
Can i increase rent after an year on 2 year lease in texas. How much can i increase and what kind of notice i need to give tenant.
Registered: 1169270040 Posts: 3,787
Reply with quote #2
Unless your lease has a clause in it to allow a rent increase in mid lease, you will not be able to change terms until the lease ends. Give notice 60 days before the lease ends that the new rent will be $xxx. That way it can go up as soon as the 2 years are up.
Registered: 1487987694 Posts: 133
Reply with quote #3
No. Unless as OHlandlord said it was a provision in the lease agreement.
You need to look to Texas law to know what notice you need to give. Check out Landlordology. Their Texas page has a brief summary and links to the statutes. It looks like 30 days to end the lease. I like to increase rents minimally year on year (1-3%) depending on the market. I aim to be just under the going market rate for my type/condition of property. This way my tenant has little incentive to leave. I use RentRange to get a detailed report of the local market including comps and vacancy trends. I have a promo code that saves 25% so it only costs $10.53. Message me if you are interested in trying it. __________________ AccidentalRental - A profitable resource for new landlords
Registered: 1472494503 Posts: 434
Reply with quote #4
Check your lease. It probably doesn't give you the right and may require a certain notice before the end of the lease (30 days won't cut it if your lease specifies 90).
Why would you want to? Generally, you agreed to that amount for that duration of time, going back on that agreement will only make them want to leave. It is comparable to them leaving the lease early even though they promised to stay that amount of time at that rent.