With the rising cost of goods and services and the continuing rise in inflation, it is with a heavy heart that we must inform you that we will be hiking up the price of rent on [building/place] effective on [date].
The increase will approximately be [percent] every year for up to [number] years. We would slowly ease the new rent into the current price, so tenants wouldn’t find it so burdening. We know how hard it is to make a living these days and we’re very sorry to have to do this.
We are hoping for your understanding on the matter.
Other Free Letter Templates
- Rental Contract Termination Letter
- Warning Letter to Noisy Tenants
- Due Date Extension for a Loyal Customer
- Letter Requesting Tenants to have Landlord included in Insurance
- Notice of Eviction
- Late Payment Warning to Tenants
- Notice for a Parking Violation
- Notice of Failure to Process Order due to Invalid Credit Card