Q:

What are some things to include in a rate increase letter?

A:

Quick Answer

Some things to include in a rate increase letter are a heading indicating the purpose of the letter, an address line for the rental property or person renting, and a body that indicates the reason for the rate increase as well as any additional instructions or terms. Identify the people affected by the rate increase either in the salutation or the address line.

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Full Answer

The first sentence of the letter should indicate the amount of the increase and the term payment total. The next sentence should indicate the date the increase begins. This date must be in accordance with any local or state laws concerning rental or payment agreement change notices.

The second paragraph should communicate the reason for the change. If possible, this should include an example, such as a tax increase or the percentage of inflation. Detail the terms or penalties affected by the change in full, as well as any instructions needed to complete future transactions. The following paragraph should give contact information, such as a phone number or email, as well as the best time or set hours to get in touch. This paragraph should end with an invitation for communication to discuss any questions raised by the increase.

The bottom of the letter should feature a simple closing statement and signature line. A printed letter should have a space for a handwritten signature, with the printed name and title of the issuer underneath. The date can go either at the top of the letter or under the signature.

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