 Can we raise rent? (by RentsDue [MA]) Nov 29, 2020 9:59 PM
 Can we raise rent? (by Johnny B. [MA]) Nov 29, 2020 10:29 PM
Can we raise rent? (by Homer [TX]) Nov 29, 2020 11:12 PM
Can we raise rent? (by RentsDue [MA]) Nov 30, 2020 7:22 AM
Can we raise rent? (by 6x6 [TN]) Nov 30, 2020 9:37 AM
Can we raise rent? (by Steve [MA]) Nov 30, 2020 10:12 AM
Can we raise rent? (by Steve [MA]) Nov 30, 2020 10:14 AM
Can we raise rent? (by Dave [CA]) Dec 1, 2020 7:05 AM
Can we raise rent? (by Steve [MA]) Dec 1, 2020 8:51 AM
Can we raise rent? (by RentsDue [MA]) Posted on: Nov 29, 2020 9:59 PM
Message:
I’m having trouble finding a straight answer on this. All my tenants are MTM. I am raising rents. So, I have to terminate their current MTM Rental Agreement and send them a new one with the new rent amount. I was going to wait until after January to avoid any overlap of the CDC moratorium but it looks like that might be extended. Can I raise the rent during the moratorium? Does the fact that I have to terminate the existing tenancy hang me up here?
--75.133.xxx.xx |
Can we raise rent? (by Johnny B. [MA]) Posted on: Nov 29, 2020 10:29 PM
Message:
My understanding is there are no issues with raising rent. I’m going to send out a few increases after Christmas. --73.159.x.xx |
Can we raise rent? (by Homer [TX]) Posted on: Nov 29, 2020 11:12 PM
Message:
Did your property taxing authorities raise your values or rates this year? I bet they did. Did your insurance raise their rate? I bet they did. Have at it and raise those rents! --66.169.xxx.xxx |
Can we raise rent? (by RentsDue [MA]) Posted on: Nov 30, 2020 7:22 AM
Message:
From the way the moratorium reads, automatic rent increases are not invalid but can’t be enforced until after December 31. These are not automatic . But the real issue is that I have to terminate the existing MTM to do it. I’m guessing that as long as I do it after 12/31 but before the new admin I should be OK, for now. I want to do it now because I have a feeling it will be at least 4 years before can do it again. --75.133.xxx.xx |
Can we raise rent? (by 6x6 [TN]) Posted on: Nov 30, 2020 9:37 AM
Message:
I am not familiar with MTM but this seems confusing to me.
Why would you have to terminate a MTM in order to raise rents? --73.120.xx.xxx |
Can we raise rent? (by Steve [MA]) Posted on: Nov 30, 2020 10:12 AM
Message:
RentsDue, in October I raised the rent for a S8 unit without any pushback from either the tenant or the PHA. So far in 2020 other than a couple of turnovers, I've not made any rent adjustments. Primarily I've chosen to do this because my tenants have all been good about paying their full rent in a timely manner. Also I'm in a much better position to do this than most of my tenant & even some of my fellow LLs.
I've talked with all of my tenants & let them know that rent adjustments would be coming in 2021. Unless something changes in December, I plan to send termination notices along with an offer of a new tenancy at an increase rent effective March 1, 2021.
As you know the proper way for a MA LL to make a rent adjustment is to also issue a notice to terminate the existing rental agreement along with an offer of a new tenancy with any change in terms. If you don't terminate their existing rental agreement & they don't agree to accept an increase there isn't much legally that a MA LL can do about it. Of course since it's next to impossible to get a hearing let alone an execution, if a tenant chooses not to pay the increase their isn't too much we can currently do about it. --71.174.xxx.xx |
Can we raise rent? (by Steve [MA]) Posted on: Nov 30, 2020 10:14 AM
Message:
RentsDue, I forgot to mention that this is one of the topics that will discussed in one of the Mass Landlords upcoming zoom meetings. If you're not already a member I suggest that you join. ://masslandlords.net/ --71.174.xxx.xx |
Can we raise rent? (by Dave [CA]) Posted on: Dec 1, 2020 7:05 AM
Message:
TO STEVE. (MA)
Question....doesn't your lease come to a term date , then going MTM ?
At term date with notice of rent increase that would be your tenants new rent.
Or they are now holdovers at 200 percent of rent rate. Most states have holdover provisions in their laws,.....even now.
With proper language, tenant has given their notice of intent to vacate at lease term end date , at start of lease. On end date they either move, or become a holdover, or accept new terms and conditions for extension / renewal. --172.250.xx.xxx |
Can we raise rent? (by Steve [MA]) Posted on: Dec 1, 2020 8:51 AM
Message:
Dave [CA], yes with the exception of a few straight mtm agreements all of mine are term leases that convert to mtm at the end of the fixed term. Currently in MA & I imagine a lot of other states our courts are basically shut down for any sort of meaningful LL vs tenant actions. Cases that were filed in late 2019 & early2020 still haven't been resolved & some haven't even been heard. --71.174.xxx.xx |
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