Check the rules first
Whether you can raise rent, how much notice is required, and what form it must take depend on your lease and on state and local law, and some places limit increases. Confirm those before acting. Nothing here is legal advice.
What to document
- The notice or lease amendment: keep a copy of what was sent or signed.
- How and when it was delivered: the date and method.
- The old and new rent amounts and the effective date.
- Any acknowledgment from the tenant, if you received one.
Update your records
- In the rent roll, change the monthly rent and note the effective date. Keep the old figure in the notes.
- In the rent ledger, start charging the new amount from the effective date. If the change falls mid-month, you may need a prorated charge; check your lease for how it is calculated.
- Do not edit past entries. Past charges stay at the old rent.
The records checklist lists the other documents to keep with the lease.