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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 12690
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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I'm looking to raise my tenants rent after year's. What is a

Customer Question

I'm looking to raise my tenants rent after year's. What is a legal raise, how much can I raise it to?
JA: It's only $5.
Customer: What's only 5?
JA: Because laws vary from place to place, can you tell me what state the property is in?
Customer: Florida
JA: Has anything been filed or reported?
Customer: What do you mean?
JA: What confuses you?
Customer: I need to know how much I can raise there rent, would 100 be legal
JA: Anything else you want the lawyer to know before I connect you?
Customer: No
Submitted: 3 months ago.
Category: Tax
Expert:  Lane replied 3 months ago.

Hi. My name's Lane.

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I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice on three continents since 1986.

Bear with me a moment and I’ll provide my initial response, and then we can go from there if you have further questions on this.

Expert:  Lane replied 3 months ago.

Unless you are in a rent-controlled area, there IS no limit other than what your lease allows.

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You can't increase rent while the lease is in effect unless the agreement allows for it.

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But once the lease is up (most go to a month to month situation) you can charge whatever the market will bear.

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Depending on the landlord/tenant laws of your state, a certain period of notice may be required

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What state are you in?

Customer: replied 3 months ago.
Florida
Expert:  Lane replied 3 months ago.

Florida Statutes – Landlord and Tenant – Title VI, Chapter 83

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Lease, Rent & Fees:

  • Rent Increase Notice: No Statute (83.46)
  • When Rent is Due: When agreed upon, at the beginning of each period, and rent is uniformly apportionable from day-to-day (83.46(1)).
  • Application Fees: No Statute. Use Cozy to avoid having to charge application fees.
  • Late Fees: No Statute (83.46)
  • Returned Check Fees: If payment is returned by a financial institution, landlord can impose a service charge of $25, if the face value does not exceed $50, $30, if the face value exceeds $50 but does not exceed $300, $40, if the face value exceeds $300, or 5 percent of the face amount of the check, whichever is greater (68.065). I recommend using Cozy to collect rent online to nearly eradicate late payments.
  • Prepaid Rent: No Statute (83.46)
  • Tenant Allowed to Withhold Rent for Failure to Provide Essential Services (Water, Heat, etc.): Yes (83.60). Essential services are defined in Statute 83.51.
  • Tenant Allowed to Repair and Deduct Rent: No Statute
  • Landlord Allow to Recover Court and Attorney’s Fees: Yes (83.48, 83.55)
Expert:  Lane replied 3 months ago.

Now, as to your specific question. The ONLY statute (law) related to rent increases is this one:

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  • It is unlawful for a landlord to discriminatorily increase a tenant’s rent or decrease services to a tenant, or to bring or threaten to bring an action for possession or other civil action, primarily because the landlord is retaliating against the tenant (83.64).
Expert:  Lane replied 3 months ago.

If this has helped, and you DON’T have other questions … I'd appreciate a positive rating (using the stars or faces on your screen, and then clicking “submit")

That’s the only way JustAnswer.com will compensate me for the work here.

Thanks,

Lane

Expert:  Lane replied 2 months ago.

Did you see my answer Again, the ONLY law on the books about rent is that you can not be retaliatory with it.

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If you'd like to see this from another source see this: http://floridarealestatelawyer.org/does-florida-have-a-rent-control-ordinance-that-caps-how-much-rent-can-increase-from-year-to-year/

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From there: "Florida and her cities have no rent control ordinances. In essence, the only thing that prevents a landlord from charging whatever he or she wants is the availability of tenants willing to pay that amount."

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I'd really appreciate a positive rating using those green stars (and clicking submit). Otherwise JustAnswer won't compensate me for the work here.