TOPIC: Seattle what does everyone think about 180 notice to increase rent!

Seattle what does everyone think about 180 notice to increase rent! 2 months 1 week ago #52697

I love that this give tenants advance notice to budget differently or find a new place. It seems like a kind thing to do. We’ve always given more than 180 days so this policy, while not in my area, wouldn’t affect us at all.

Any increase would come in a renewal notice. We don’t increase with the first renewal in general and our increases are all 3% or under (unless major reno), so we have no problem notifying ahead of time. Can you imagine the stress that it would cause a tenant if all of a sudden you were bumping up the rent with only a couple of months notice? They would either have to figure out how to come up with more money or find a new place to live in just a few months.
  • Jordan Else
  • Jordan Else's Avatar

Seattle what does everyone think about 180 notice to increase rent! 2 months 1 week ago #52698

I think your maintenance team is going to be busy turning units in the near future.
  • Homar Santiago
  • Homar Santiago's Avatar

Seattle what does everyone think about 180 notice to increase rent! 2 months 1 week ago #52699

We do 90 days with auto renewal at 60 days. 180 is too much
  • Ned Wasserstein
  • Ned Wasserstein's Avatar

Seattle what does everyone think about 180 notice to increase rent! 2 months 1 week ago #52700

Some people like to take advantage of knowing where they will be. Of I can lock in a tenant with a better price now & save them another increase, I do it!
  • Kandice Jenkins
  • Kandice Jenkins's Avatar

Seattle what does everyone think about 180 notice to increase rent! 2 months 1 week ago #52701

Agreed. We give them an option within their first 6 months to switch to a 2 year lease which avoids the increase entirely.
  • Ned Wasserstein
  • Ned Wasserstein's Avatar

Seattle what does everyone think about 180 notice to increase rent! 2 months 1 week ago #52702

Is it legal to do a tiered renewal amount? So 6% increase if renewed at 180 days and then 1% higher per month until 10%?
  • Laura Renaldo
  • Laura Renaldo
's Avatar

Seattle what does everyone think about 180 notice to increase rent! 2 months 1 week ago #52703

I'm curious..what is the average price for rentals in that area?? I think i heard it was very expensive comparatively, so if it is..and the increase is substantial...most people need a bit of time to come up with the money, find a place to live...
  • Eva Radecki
  • Eva Radecki's Avatar

Seattle what does everyone think about 180 notice to increase rent! 2 months 1 week ago #52704

What I think is crazy is that tenants in WA are only required to give a 20 day notice to vacate still. How are you to predict how many residents saying they are going to move out in 160 days to know how conservative to be on the increases?
  • Shawn James Haussler
  • Shawn James Haussler's Avatar

Seattle what does everyone think about 180 notice to increase rent! 2 months 1 week ago #52705

Too long , I would recommend 90 day
  • Lori Lindley
  • Lori Lindley's Avatar

Seattle what does everyone think about 180 notice to increase rent! 2 months 1 week ago #52706

We always do 3-6 months as a courtesy - with the notice there could be another market increase if they don't lock in their rate & sign by a certain date (market changes can happen at any time).
  • Kandice Jenkins
  • Kandice Jenkins's Avatar

Multifamily Discussions

More Topics »