A rent increase letter tells an existing tenant the new monthly rate and the date it takes effect. Use the template below, send it at least 30 days before the change, and check your rental agreement for any notice terms. It is general information, not legal advice.
When to use it
Send it when your rates for new tenants have moved well above what long-term tenants pay. That gap is often called the rate gap, and closing it in small steps is the idea behind ECRI, or existing customer rate increases. The rent increase guide covers how much and how often.
What the law usually requires
Storage rentals are usually governed by the rental agreement plus your state's self-service storage statute. Those statutes focus on liens, sales and late fees. They rarely set a rent increase notice period. So your lease is the main source.
What the statutes do affect:
- Rental agreement terms. Texas chapter 59 and Florida 83.808 govern what a rental agreement must say. Read yours for any clause about changing rent or giving notice (Tex. Prop. Code ch. 59, Fla. Stat. 83.808).
- Late fee base. Many states set the reasonable late fee as the greater of $20 or 20% of monthly rent. Raise rent, and the fee base moves with it. See late fees.
- Lien amount. Only amounts the lease allows go into a lien. A rate increase made without proper notice may be hard to include.
Say a tenant pays $95 and your new-tenant rate is $115. A $10 step to $105 closes half the gap. With 80 tenants like this, that is $800 more per month, or $9,600 a year, if nobody leaves. Test your own numbers with the rent increase calculator, and weigh the move-out risk before you send letters.
How to fill it in
- Current and new rate. Show both, in dollars.
- Effective date. Use the first billing date after the notice period ends.
- Reason (optional). One true line.
- What stays the same. Say the rest of the lease does not change.
- Contact. Offer a number to call.
- Delivery. Match the lease. Save a copy.
Common mistakes
- Giving less notice than the lease says.
- Mixing the increase with a lien warning.
- Raising rent on a tenant already in default without a plan for what happens next.
- Raising all tenants by the same percent with no look at who is far below market.
- Sending the letter without a way for the tenant to ask questions.
- Forgetting to update the autopay amount in your system.
The template
Template only, general information, not legal advice. Have your attorney review it for your state and lease.
[FACILITY NAME]
[FACILITY ADDRESS] | [PHONE] | [EMAIL]
Date: [DATE SENT]
To: [TENANT FULL NAME]
Unit: [UNIT NUMBER]
SUBJECT: Change to your monthly rent
Dear [TENANT FIRST NAME],
Thank you for storing with us. We write to let you know that your monthly
rent for unit [UNIT NUMBER] will change.
Current rent: $[CURRENT RATE] per month
New rent: $[NEW RATE] per month
Starts: [EFFECTIVE DATE], with your payment due on that date
[OPTIONAL: This change reflects higher costs for [PROPERTY TAXES /
INSURANCE / UTILITIES / MAINTENANCE].]
All other terms of your rental agreement stay the same. If you pay by
autopay, [YOUR AUTOPAY WILL UPDATE AUTOMATICALLY / PLEASE UPDATE YOUR
AUTOPAY].
If you have questions, please call [PHONE] or email [EMAIL]. If you plan
to move out, please give us [NUMBER] days notice as your rental
agreement describes.
Sincerely,
[MANAGER NAME OR "Management"]
[FACILITY NAME]