Notice of rental price increase

Dear

[name]

,

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.

Sincerely,

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