With ever increasing Texas property values causing property tax and insurance increases, Landlords are passing these expenses on to the Tenants as they must do to afford to make their mortgage payments. Following are some common questions regarding rent increase laws in Texas.
- Legally, how do landlords go about raising rent?
- In most cases, it just takes a written notice of some sort. It doesn’t even have to be fancy. A landlord could simply hand write on a piece of paper that the rent is going up to a certain amount on a particular date and place it under a rock on the doorstep.
- Most states and cities across the United States have some form of rent regulation. In such states, landlords are required to rent out properties only at a certain price, and cannot increase the price at their will. However, other states like Texas, don’t have rent regulation laws; the only exception is in case of a disaster or pandemic.
- Do landlords have to provide a certain amount of notice?
- If operating a fixed-term lease, then they need to wait until the lease has expired to hike it. If operating a month-to-month lease, then all they’ll need to do is notify the tenant at least a month (30 days) prior. The notice must be provided to your tenant in writing.
- If operating a fixed-term lease, then they need to wait until the lease has expired to hike it. If operating a month-to-month lease, then all they’ll need to do is notify the tenant at least a month (30 days) prior. The notice must be provided to your tenant in writing.
- Can rents be increased at renewal or can rents be raised at other times too?
- If you have signed a fixed-term lease with your tenant, then you’ll need to wait for the existing lease term to expire before you can adjust the rent price.
- If you have signed a fixed-term lease with your tenant, then you’ll need to wait for the existing lease term to expire before you can adjust the rent price.
- Are there limits to how much rents can be increases in Texas?
- As there are no rent stabilization or rent control laws in Texas, landlords can raise the rent by as much as they wish.
Whether you choose a resale home or a new construction home, buying a house is an exciting investment! Make sure you consider the options to make the best choice for you so that your new house becomes a great home. To help you consider all of the things that you should examine before buying a home, contact ROCK Properties Realty and we’ll help you make sure that your home buying experience becomes a wonderful experience.