Fillable Printable Free Rent Increase Letter Template

Free Rent Increase Letter Template

Rent Increase Approval Letter - Elderly

Date

Agent Contact

Management Company

Street Address

City, State, Zip Code

Re: Rent Increase for (Project Name)

Dear (Agent Contact):

Please accept this letter as our approval to increase the rents at (Project Name) to the following

requested levels:

Studio Unit: $

One Bedroom: $

Two Bedroom: $

The effective date is approved for (date), in order to allow the required 30-day written notice of the

increase to be given to the residents. To remain in compliance with the Internal Revenue Service

regulations, at least 20 percent of the units are to be rented by or made available to persons of the

very low-income range. Also, remember any individuals applying for residency that are over the

income limit must receive a waiver from this office prior to moving into any bond-financed facility.

We are continually reviewing vacancy in our elderly portfolio and remain concerned about the high

vacancy numbers at many of the facilities throughout the state. If, after implementing this rent

increase you notice a decrease in occupancy within the next few months, please re-visit your rent

structure and make adjustments as necessary to bring occupancy up to acceptable levels in your

communities. We will also be reviewing marketing efforts and vacancy trends on a monthly basis

and will be communicating with management of the elderly projects that are experiencing long-term

vacancy to obtain updates on new marketing endeavors.

Contact me at (503) (phone#), or by e-mail at [email protected]

if you have any questions.

Sincerely,

(CO NAME)

Compliance Officer

cc: Working File

(REV 09/29/11)