WHEN AND HOW MUCH FOR RENTAL INCREASES?
How much can I increase the monthly rent?
In Florida there are no rent control laws for residential properties so that means a landlord may elect to increase the monthly rent however the landlord must follow certain steps:
The Landlord must provide proper notice pursuant to Florida Statute and the Lease Terms
What is considered a fair rent increase?
Generally, unless the lease agreement uses the Consumer Price Index the landlord may use his or her discretion in determining the increase in rent. Most landlords will refer to the amount the market dictates for the property in a particular area.
How do I find out the market price for rent?
A comparable market analysis with Zillow, Rentometer, or Apartment List may be helpful.
Factors to consider in increasing rent:
Property insurance increases
Maintenance of property increases
Utilities, water, trash, sewer, or cable increases if included in the rent
Explaining to the tenant the reason for the rent increase may be helpful to foster a healthy landlord tenant relationship as the tenant may also be experiencing increases with his or her personal expenses.
When is the Landlord prohibited from increasing the rent?
The rent cannot be increased during the Lease term.
The tenant filed a complaint with a governmental agency for enforcement of housing, code, or health violations.
The tenant has placed the landlord on notice of failure to comply with the landlord’s maintenance responsibilities pursuant to Florida Law and/or the lease agreement.
The tenant has exercised his or her rights under local, state, or federal housing laws.
If you need assistance with your renter for non-compliance with the lease agreement or non-payment of rent, we have you covered. Our office handles commercial and residential properties in Pinellas, Pasco, and Hillsborough counties as well as many surrounding counties. Responsive, rapid, and reasonable representation. Venessa Bornost, Esquire at (727) 330-7800.