anniversary letter (by small potatoes [NY]) May 5, 2022 9:21 AM|
anniversary letter (by Ken [NY]) May 5, 2022 10:05 AM
anniversary letter (by DJ [VA]) May 5, 2022 10:36 AM
anniversary letter (by RB [TN]) May 5, 2022 11:54 AM
anniversary letter (by myob [GA]) May 5, 2022 12:52 PM
anniversary letter (by Hoosier [IN]) May 5, 2022 1:45 PM
anniversary letter (by Bonanza [NC]) May 5, 2022 3:14 PM
anniversary letter (by Jason [VA]) May 5, 2022 3:40 PM
anniversary letter (by small potatoes [NY]) May 5, 2022 3:43 PM
anniversary letter (by Jason [VA]) May 5, 2022 3:46 PM
anniversary letter (by Robert J [CA]) May 5, 2022 4:22 PM
anniversary letter (by Jim in O C [CA]) May 5, 2022 6:22 PM
anniversary letter (by MAP [NY]) May 5, 2022 6:53 PM
anniversary letter (by don [PA]) May 5, 2022 7:09 PM
anniversary letter (by don [PA]) May 5, 2022 7:10 PM
anniversary letter (by Renne [TX]) May 6, 2022 1:34 AM
anniversary letter (by myob [GA]) May 6, 2022 7:41 AM
anniversary letter (by small potatoes [NY]) May 6, 2022 10:03 AM
anniversary letter (by jonny [NY]) May 6, 2022 11:44 AM
anniversary letter (by Ken [NY]) May 6, 2022 12:18 PM
anniversary letter (by Renne [TX]) May 6, 2022 11:16 PM
anniversary letter (by myob [GA]) May 7, 2022 6:49 AM
anniversary letter (by Still Learning [NH]) May 7, 2022 7:27 AM
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anniversary letter (by small potatoes [NY]) Posted on: May 5, 2022 9:21 AM
With proper formatting this is the letter I generate for lease renewals. As I mentioned at the bottom of the other thread I also continually adjust my lease based on what I learn here, but I weigh the need to hold current residents to new lease language against the risk I think they represent and my perceived inclination not to fluster them with new language that might make them think I don't trust them and disrupt our relationship. With a resident that I choose to renew I'm calculating that things will continue to go well. If they really go off the rails there is no lease language that can make them change their ways.
And again credit for calling it an anniversary goes to Jeffery.
property St, 2 Fl
city, NY zipcode
April 20, 2022
Dear tenant name,
It has been a pleasure having you as a resident at property Street. Thank you for staying with us another year. Your lease will renew on June 1, 2022, for a one-year period, ending May 31, 2023. The rent will become $925 per month beginning June 2022. All other lease terms remain the same. Your security deposit will also need to match your new rent. Please remit $30 to bring the security up to $925.
Please sign below and return this letter to us. We will sign it and return an original copy to you.
This is a Rental Anniversary letter for apt address 2 Fl city NY zipcode
Between Tenant(s) tenant name here
Landlord: my name here
DBA: my sole proprietor name here
The Lease will renew for a period of on year from June 1, 2022, to May 31, 2023 All other terms of the original lease remain in place.
Tenantís Signature Date
Landlordís Signature Date
anniversary letter (by Ken [NY]) Posted on: May 5, 2022 10:05 AM
Small potatoes. couple questions why paint your self into a corner? what happens when they dont return the lease signed,as far as i am concerned a landlord just lost his authority if he does anything short of an eviction.I dont understand why landlords dont just let it go month to month or increase the rent automatically through the original lease,lot of lost time doing this. Number 2 in NY state why do you even want a lease? a month to month written agreement and even during covid you could tell a tenant to leave whereas if they had 9 months left on a lease and stopped paying there was nothing you could do till the 9 months ran out. --74.77.xx.xx
anniversary letter (by DJ [VA]) Posted on: May 5, 2022 10:36 AM
Check your state laws, but you may be able to add a section that says:
If this is not signed & returned / if no written objection is received within (5?)days of receipt of this notice, then it is understood that all parties agree.
Something to that effect. --68.229.xxx.xxx
anniversary letter (by RB [TN]) Posted on: May 5, 2022 11:54 AM
Ditto, Ken. [NY] --24.183.xxx.xxx
anniversary letter (by myob [GA]) Posted on: May 5, 2022 12:52 PM
sweet potato! why do you need more sec dep on an offer of renewal? Tenants that are no good are not offered lease renewal but sent lease is over 30 day notice letter.
It seems to be easier to just leave the dep the same. --99.103.xxx.xxx
anniversary letter (by Hoosier [IN]) Posted on: May 5, 2022 1:45 PM
I also would be concerned that they don't sign/return. Maybe in the original lease note that it is an automatic renewal? Probably by state law you'd have to give some sort of notice of the auto renewal even if it's in the lease...but at least you would not have to require a signature.
I do like the security deposit "top up" line, that's good. --99.92.xxx.xxx
anniversary letter (by Bonanza [NC]) Posted on: May 5, 2022 3:14 PM
I like it. I am planning to figure out a good way to do e-signatures (hopefully with the property management software) and I will get them to sign a brand new current lease. This is the same strategy that apartments use. and if they have to leave, then you collect the early lease termination fee.
It forces you to think about raising there rents on a yearly basis.
In NC at least, if they violate the lease you can kick them out before the lease ends. --71.217.xxx.xx
anniversary letter (by Jason [VA]) Posted on: May 5, 2022 3:40 PM
I have my lease term essentially infinite where it can be canceled by either party, for any reason, as long as the tenant doesnít terminate within the first year. I have a minimum annual increase included and since Iíve started using clearnow, Iíve never missed an increase. --50.202.xxx.xx
anniversary letter (by small potatoes [NY]) Posted on: May 5, 2022 3:43 PM
Ken, I prefer the structure that having a lease imposes. It's good to know when the turnover dates are and make them so I'm not stuck with an empty unit in the winter. With the changes for the worse in NY I do let some tenants go MTM after the first year.
I have already contacted these residents and asked them if they are renewing their lease before I send out the letter. So I am not worried they will not sign and then I'd be 'stuck' with them. And if they did that it would be a red flag, they'd go MTM and I would consider them on the way out, whether I give them notice right away, or not.
DJ, my old NYS default lease had language like that, but the state codifies what happens if the lease is not renewed it defaults to MTM so I didn't think I had to keep it in there.
I do not have anything about holding over but I should, not sure what's the legal amt one can increase holdover rent in NY. Fortunately I have not had this specific problem.
myob, In NY the most we can hold is one month rent and one month security. I want the increased security because things are not getting cheaper and it sends a message to the tenant that if this rental relationship is important they will treat my property right so they get their funds back. Kind of like when people get stuff for free they don't appreciate it. This helps them appreciate it and not take my offer to extend the relationship for granted.
I might do a separate post about increases because when I queried this topic a few years back most said neigh to having that in the lease. I like having it outside the lease, so I can tailor it to the tenant and my economic situation. It would be a breach to have 2.9% in the lease contract and then say hey it's different.
anniversary letter (by Jason [VA]) Posted on: May 5, 2022 3:46 PM
ďIt would be a breach to have 2.9% in the lease contract and then say hey it's different.Ē
Itís not a breach if you specify a MINIMUM 2.9% increase. --50.202.xxx.xx
anniversary letter (by Robert J [CA]) Posted on: May 5, 2022 4:22 PM
Read your letter as if you were the tenant. It's kind of "cold". You could use some better wording to make them feel the rental is their home.
Second I agree with the above post that have an annual lease that converts to a Month-to-Month.
What I do if I want a tenant to sign another "Fix Term Lease" is I offer them a discount on the "rent increase" if they sign another year term.
For example a pool home who's lease expires in winter, a time when pool homes are much harder to rent, instead of a $75 a month increase if the lease covert to a month to month, I offer only a $50 increase if they sign another fix term lease.
But you know your market and can make the best choices. --47.155.xx.xxx
anniversary letter (by Jim in O C [CA]) Posted on: May 5, 2022 6:22 PM
I always remind my tenants that my taxes and my insurance does increase annually. My home owners insurance used to increase 3 or 4 % but recently the percentage is 8 to 12 % because of lumber and labor. If they are on time paying their rent I let them know the 2 to 3% increase could be 5 to 10 if they paid their rent late. Itís been 20 years since lost a tenant due to my very reasonable rent increases. --99.23.xxx.x
anniversary letter (by MAP [NY]) Posted on: May 5, 2022 6:53 PM
Small potatoes, Good Cause Eviction legislation is looming whereby you can't evict holdovers. MTM is making more and more sense. --72.231.xxx.xx
anniversary letter (by don [PA]) Posted on: May 5, 2022 7:09 PM
Tone is all wrong. You cannot state "your lease will renew at xxx monthly rent." You have no authority to state that. What you mean to convey is "Your lease is expiring on xxx. We can offer you a renewal at xxx per month. If you wish to renew, please sign below and we will countersign and return to you." --68.84.xxx.xx
anniversary letter (by don [PA]) Posted on: May 5, 2022 7:10 PM
MAP---In Phila we have good cause eviction (the proper term should actually be termination, not eviction). Here, it applies to lease durations of less than one year. So, MTM requires that the LL give a reason. --68.84.xxx.xx
anniversary letter (by Renne [TX]) Posted on: May 6, 2022 1:34 AM
From our lease:
Renewal: The term of this agreement shall automatically renew for a period of one year and the base rent (not including pet fees, convenience fees, etc.) will increase by 2.9%.
Either party may avoid renewal of the agreement by giving the other party written notice of non-renewal on or before (fill in date). ABC, LLC may change any terms of this agreement by giving Residents written notice of the new term(s) at least 30 days before the end of the agreement date. If Residents fail to terminate the agreement prior to the end of the agreement date, Residents agree to accept all new or changed terms.
Using the terms of the lease, I send notices out well before the 30 days indicating the 5% or whatever the new increase will be.
Our Happy Anniversary letter:
Dear Bob and Sally,
Congratulations! It is almost your 1-year anniversary and that means you get to pick a free gift for your home!
This benefit is to show you in a concrete, practical way how much we value your business and how we appreciate you maintaining your home, and paying your rent on-time or early to help our operating costs stay low. Please select your one free benefit for your home from the list below:
(That was copied right from Jeffreyís lease manual. We offer our guests a huge assortment- garden beds, trees installed, upgraded kitchen or bath hardware, ceiling fans, upgraded curtain rods or curtains, master closet organizers, etc. We even say if they donít see something on the list to please let us know and we may add it to the free anniversary gift options.)
I know this letter is coming much sooner than the 30 days before your lease expires on month, date, at midnight, but we wanted you to have as much time as possible to plan.
As you know, costs are skyrocketing! Our insurance, property taxes, software, professional subscriptions and organizations, labor, materials, trash, water, and virtually all the services we use to keep your home in tip top condition and professionally managed have skyrocketed.
We have absorbed those increasing costs the last 2 years and kept your yearly rent raise to the 2.9% cost of living adjustment we referenced in the lease. However, we are unable to keep absorbing the costs.
We have looked at as many areas as we can think of to lower our costs- we are looking at different insurance companies, trash companies, and we are cutting costs where ever we can while keeping the quality of service you receive to the same excellent standard you have come to expect from ABC, LLC.
Even with all those cost cutting measures, we will need to raise the rent on Pecan House not the 2.9% which was indicated in your lease, but to a base rate of $975 + the $30/month for the washer and dryer for a total of $1,005. To make it easier for budgeting and planning, we could word the lease to have a $51.25 month increase for the first 6 months, and then the additional $51.25 would be added for the remaining 6 months.
If the price of $1,005 is completely out of your price range, would you please let us know what you think you would be able to work with in your budget as we would love to keep you as Residents!
Although we would hate to lose you as Residents, we know that all our budgets are stretched and if you decide to move, we would be delighted to furnish you with the exceptional landlord reference you have earned!
If you move, your last rental payment will be month, date and your last day in Pecan House would be month, date at midnight.
Let us know if you prefer the $51.25 month increase for the first 6 months, and then the additional $51.25 would be added for the remaining 6 months; you would like the $102.50 at the start of the new lease period; or you have a different solution we can come to an agreement on, and I will send over the updated lease with the new payment amounts via DocuSign as we hope you will be with us enjoying Pecan House for years!
Renne Property Management Team
From our lease:
Holdover: If Residents continue to occupy the property after the current lease has expired and before a new, signed lease is received by ABC, LLC, Residents are considered to be holding over.
Current Residents agree to pay ABC, LLC and prospective new Residents for damages including, but not limited to lost rent, lodging expenses, cost of eviction and all attorneyís fees.
Rent for the holdover period will be three times the monthly rent, calculated on a daily basis and is immediately due and payable daily without demand until Residents have completely vacated. For example, if monthly rent is $1,500 x 3 = $4,500 divided by 30 = $150.0 /per day payable each day without demand.
anniversary letter (by myob [GA]) Posted on: May 6, 2022 7:41 AM
RENEE "Dear Bob and Sally" did you mean dear Mommy and Daddy?
I gotta check my sugar with the meter.........
anniversary letter (by small potatoes [NY]) Posted on: May 6, 2022 10:03 AM
Don, I'd consider that a matter of semantics
Robert, I can see that the language is a little curt and not as freindly as Renne's below. Renne has the full Jeffery content, I've chosen not to go the annual upgrade route.
It is certainly a time to take stock of things and reframe going forward with the changing NY climate and inflation.
Thanks for the feedback
anniversary letter (by jonny [NY]) Posted on: May 6, 2022 11:44 AM
I do both depending on the properties (MTM or Lease). I typically still like the lease and that's what I normally want (especially with the winters here). I try to get all of them to expire sometime between April to August.
In my lease it currently states there is an "automatic renewal of 1 year with a $25 (or whatever) increase UNLESS changes are made in writing" (something to that affect).
With that said, I normally will then send out a renewal letter for those that I want to renew with and offer them the renewal of one year and $xx increase. Sometimes it may be the $25 (or whatever) in the original lease, it could be a lower (depending on the unit and the costs, etc) or it could be higher.
I typically always sent them out about 2 months prior to the renewal date but now NYS made it a max of 90 days for anyone over 2 years so obviously I follow that for those. Some I gave an extra month just in case they wanted to leave (IE I had one that I was raising up quite a bit and they were renewing for May 1 so I sent the renewal in December so they would have enough time to figure out what they wanted to do and if it was to leave - then they couldn't say I only gave them a 'short time to find a place' as I gave them more than the law stated). They renewed. So far "all have renewed" with the exception of one that hasn't left yet but also has not paid this month (she usually gets it to me either this week or by next and it's "only her share as S8 pays the rest). Problem is, I don't think she advised S8 that it was going up as their part hasn't increased so I'm not sure what's going on.
She was advised in January for a May increase (still more than enough time) and she stated she wanted a larger apartment and was really mad at me for increasing her rent. I said "don't be mad, just choose the "not renewing" option and move out ... it's nothing personal".
So ... I guess I wait to see what she's doing. I don't like holding people to the fire with the statement "it will be considered agreed upon if this is not signed and returned by xx date" because in NY - I don't even know if that would be legal to do. --69.201.xx.xxx
anniversary letter (by Ken [NY]) Posted on: May 6, 2022 12:18 PM
jonny,might be worth the effort to contact the section 8 worker,i am going to guess your rent increase letter doesnt go into effect if you didnt inform the case worker --74.77.xx.xx
anniversary letter (by Renne [TX]) Posted on: May 6, 2022 11:16 PM
Myob, Probably a reflection of 30+ years teaching little children. At least I resisted the urge to enclose a box of Goldfish crackers. :-) --12.196.xxx.xxx
anniversary letter (by myob [GA]) Posted on: May 7, 2022 6:49 AM
Renne TX I believe the NEW reality is this rental game is no longer a game. It's serious because we as LL's are no longer able to confront the tenants (in court) to lay the cards on the table. No more if you don't renew your out or pay your rent. Towns and States have ways for these none payers to stay. Sweet talk and kindness just doesn't work. (no not even animal crackers)
Our renewal letters and most contact's are stickily business like. --99.103.xxx.xxx
anniversary letter (by Still Learning [NH]) Posted on: May 7, 2022 7:27 AM
I saw you return the original to the tenant. I keep the original so they canít alter it. --75.67.xxx.xxx
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