 RENT INCREASE (RUB (by TERRY [ID]) Nov 29, 2023 4:46 PM
 RENT INCREASE (RUB (by Roy [AL]) Nov 29, 2023 4:57 PM
RENT INCREASE (RUB (by MC [PA]) Nov 29, 2023 5:00 PM
RENT INCREASE (RUB (by Ray-N-Pa [PA]) Nov 29, 2023 5:37 PM
RENT INCREASE (RUB (by tim [CA]) Nov 29, 2023 6:01 PM
RENT INCREASE (RUB (by Steve [MA]) Nov 29, 2023 6:37 PM
RENT INCREASE (RUB (by 6x6 [TN]) Nov 29, 2023 7:43 PM
RENT INCREASE (RUB (by TERRY [ID]) Nov 29, 2023 8:10 PM
RENT INCREASE (RUB (by Busy [WI]) Nov 30, 2023 9:55 AM
RENT INCREASE (RUB (by BRAD 20,000 [IN]) Dec 1, 2023 1:11 AM
RENT INCREASE (RUB (by Phil [OR]) Dec 1, 2023 5:29 PM
RENT INCREASE (RUB (by TERRY [ID]) Posted on: Nov 29, 2023 4:46 PM
Message:
Happy Holidays to all you landlords out there! I'm writing my annual rent & RUB increase letter to my tenants (I own a 4-plex), all tenants are on a month-to-month basis, everybody gets a rent/RUB increase letter Dec. 1, 30 days before the effective date (1/1/24). This year, I'm increasing the RUB (Ratio Utility Billing system) quite substantially because, as you all are all aware, all the utilities and services have increased so much. (Tenants pay their own electricity.)
My question is, in my letter do you think I should show the tenants a line-by-line itemization of expenses and how the RUB is calculated, OR do you think I should just give them a bottom line total of what their new bill is going to be--no explanation, just here it is?
This has nothing to do with what I'm asking, but I just received my new property tax bill and it shows an itemization of all the new items that are included in this year's tax bill AND it also shows a total of what I paid in taxes last year. I kind of like to know what I'm paying for.
I was thinking that an itemization of expenses for the tenants may be good for them to see what they're paying for.
What do you think? --174.27.xx.xxx |
RENT INCREASE (RUB (by Roy [AL]) Posted on: Nov 29, 2023 4:57 PM
Message:
I think an itemized expense list could possibly open a can of worms with your tenants. I would just give them a flat rate bottom line total without any detailed explanation of how it was calculated. --71.207.xxx.x |
RENT INCREASE (RUB (by MC [PA]) Posted on: Nov 29, 2023 5:00 PM
Message:
Just an increase. Word it that it is a 30 day notice that they can agree to the increase or vacate. I would get thier sig so you are not caught unaware on 1/1. --73.230.xxx.xx |
RENT INCREASE (RUB (by Ray-N-Pa [PA]) Posted on: Nov 29, 2023 5:37 PM
Message:
Instead of a RUBS assessment, you can simply call it a Tenant Benefit Package fee.
As the government gets more involved, this allows you more wiggle room to add or subtract to that amount. --24.101.xxx.xxx |
RENT INCREASE (RUB (by tim [CA]) Posted on: Nov 29, 2023 6:01 PM
Message:
I like to keep my rent increase methodology to myself. For example if a tenant isn't taking care of the place, they get a much bigger increase when compared to someone who is a stellar tenant. My letter states that my rent increases are based on "increased operational costs". If a tenant is a jerk, my rental-related alcohol costs go up....someone's gotta pay. --108.201.xx.xx |
RENT INCREASE (RUB (by Steve [MA]) Posted on: Nov 29, 2023 6:37 PM
Message:
I like to keep things simple & try to not confuse my tenants so I would limit how much info that is included in their rent adjustment notice.
It's always been my practice to give tenants 60 days, or 2 full rental periods notice of any changes in their rental agreement. --72.93.xxx.xx |
RENT INCREASE (RUB (by 6x6 [TN]) Posted on: Nov 29, 2023 7:43 PM
Message:
Do tenant even read their bills? --73.190.xxx.xxx |
RENT INCREASE (RUB (by TERRY [ID]) Posted on: Nov 29, 2023 8:10 PM
Message:
Thank you everyone for all of your input. I also talked to my son who is the money guy that I go to for advice. So, it's bottom line info for the tenants...they don't really give a rip about or really want to know all the deets!!
Thanks Tim from CA, for the laugh and advice for jerky tenants, I'll keep that in mind for the future, cheers!! Happy Holidays everyone!! --174.27.xx.xxx |
RENT INCREASE (RUB (by Busy [WI]) Posted on: Nov 30, 2023 9:55 AM
Message:
I got trouble for myself by giving too much detail, just as Roy mentioned.
Tim, thanks for the laugh! Beezlebub gets the highest rate just for that reason. --72.135.xxx.xx |
RENT INCREASE (RUB (by BRAD 20,000 [IN]) Posted on: Dec 1, 2023 1:11 AM
Message:
Terry,
K.I.S.S.
Every word is fuel for an argument.
They are happy YOUR costs are rising because "they" don't pay the taxes, etc.
They just want the bottom line.
BRAD --73.103.xxx.xxx |
RENT INCREASE (RUB (by Phil [OR]) Posted on: Dec 1, 2023 5:29 PM
Message:
Tim(CA)-- you made me laugh. PIA tenants DO cost you more in time, worry---and how you chose to deal (medicate) with it.
I usually give the normal " insurance, taxes, repairs are going up"...... AND I put a copy of the HUD Fair Market Rent on the back side so they can easily see that the rent increase is not out of normal. Have never lost a tenant yet solely on a reasonable increase.
--76.138.xxx.xxx |
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