In this article, we will learn how to write a letter of decline lease renewal for rent increase.
Leasing a commercial space is an important part of business and it’s important to maintain a good relationship with the landlord.
One way to make sure you do not get caught off guard by a rent increase is to request a written notice ahead of time.
The rent increase should be in writing and include the reason why.
You may need to write a letter of declination or lease renewal for rent increase.
To be able to write such letter you must have knowledge about lease renewals and the terms that exist between a landlord and tenant.
So let’s get started!
Letter Of Decline Lease Renewal For Rent Increase
Here Are Some Samples To Guide You.
Sample #1
Dear [Landlord’s Name],
I hope this letter finds you well. I am writing to inform you that I will not be renewing my lease for the property located at [Property Address] due to the proposed increase in rent.
While I have enjoyed living in this property for the past [Number of Years/Months], the proposed rent increase is beyond what I am able to afford at this time. Unfortunately, I must consider other options that are within my budget.
I appreciate the care and attention you have given to this property during my tenancy and I would like to thank you for the opportunity to reside in this apartment. I will ensure that I leave the property in the same condition as when I first moved in.
Please let me know the procedure for returning the keys and the final inspection of the unit. I will be available to meet with you at a convenient time.
Thank you for your understanding and cooperation.
Sincerely,
[Your Name]
Sample #2
Dear [Landlord’s Name],
I hope this letter finds you well. I wanted to thank you for offering to renew my lease for another year. However, I regret to inform you that I will not be able to accept the renewal offer due to the proposed rent increase.
As much as I have enjoyed living in this apartment, the proposed rent increase is beyond my budget and I am unable to commit to it. I understand that the cost of living is going up and that you need to adjust the rent accordingly, but unfortunately I cannot afford the new rent amount.
I have always been a responsible tenant and have taken good care of the apartment during my stay. I have always paid my rent on time and have been cooperative with any requests made by management. I hope that you will keep me in mind for any other available units in the future.
Thank you again for your understanding and cooperation.
Sincerely,
[Your Name]
Sample #3
Dear [Landlord’s Name],
I hope this letter finds you well. I am writing to inform you that I will not be renewing my lease for [apartment/house unit] at the end of the current lease term.
While I have enjoyed living in your property for the past year, the proposed rent increase is beyond my budget and I cannot afford it at this time.
I understand that the current market conditions may warrant a rent increase, but unfortunately, it is not feasible for me to continue living here under such circumstances.
I appreciate your understanding in this matter and would like to request that you return my security deposit in full upon my vacating the property. I will ensure that the unit is returned to its original condition and will coordinate with you for the move-out process.
Thank you for your cooperation during my stay at your property. Should you require any additional information from me, please do not hesitate to contact me.
Sincerely,
[Your Name]
Sample #4
Dear [Landlord’s Name],
I hope this letter finds you well. I am writing to let you know that I will not be renewing my lease for [Apartment/House/Unit] located at [Address]. I have thoroughly enjoyed my time living here, but unfortunately, I cannot afford the rent increase that you have proposed.
I understand that the increase in rent is reflective of the current market conditions, however, it is beyond what I can comfortably afford. As much as I would have loved to continue living here, I am forced to start looking for more affordable housing options.
Please let me know the next steps in the process of vacating the property. I will make sure to abide by all the terms of the lease agreement and complete the necessary move-out procedures as per the agreement.
Thank you for being a wonderful landlord throughout my time here. I hope that we can part ways amicably, and I wish you all the best in your future endeavors.
Sincerely,
[Your Name]
Sample #5
Dear [Landlord’s Name],
I hope this letter finds you well. I am writing to express my decision regarding the renewal of my lease agreement. While I have enjoyed living in the property and appreciate the opportunity to renew my lease, I regret to inform you that I will not be able to accept the proposed rent increase.
As much as I understand the need for landlords to increase rent prices, I have carefully assessed my financial situation and determined that the proposed increase is beyond my means.
I have always paid my rent on time and taken care of the property as if it were my own, and I hope that my decision not to renew my lease will not affect our positive relationship.
I would like to thank you for your understanding and cooperation during my tenancy. I will vacate the property in accordance with the terms of the lease, and I will ensure that the property is returned to you in the same condition as when I first moved in.
If there are any questions or concerns, please do not hesitate to reach out to me. Once again, thank you for the opportunity to live in the property and for your understanding in this matter.
Sincerely,
[Your Name]
Letter Of Decline Lease Renewal For Rent Increase #6
Dear [Landlord],
I hope this letter finds you well. I am writing to inform you that I will not be renewing my lease for the upcoming year due to the proposed rent increase. As much as I have enjoyed living at [Address], the new rent amount is beyond what I can comfortably afford.
I appreciate the effort you have made to maintain the property and provide a comfortable living space for me. However, my financial situation has changed, and I am unable to accommodate the increased rent.
I will ensure that the property is left in the same condition as when I moved in, and I will vacate the premises on the lease end date. Please let me know the appropriate steps to take to ensure a smooth move-out process.
Thank you for your understanding, and I wish you all the best in finding a new tenant for the property.
Sincerely,
[Your Name]
Sample #7
Dear [Landlord’s Name],
I hope this letter finds you well. I am writing to inform you that I will not be renewing my lease for the upcoming year due to the proposed rent increase in the renewal agreement.
While I have enjoyed living in this apartment and appreciate the effort you have put into maintaining the property, the proposed increase in rent is beyond my budget and I am unable to justify the additional expense.
I understand that the rental market is constantly fluctuating and that it is within your rights to adjust the rent according to current market conditions. However, I must make a decision based on what is financially feasible for me.
I would like to thank you for your understanding and cooperation throughout my tenancy. I will ensure that the apartment is left in a clean and tidy condition upon vacating, and that any outstanding payments are settled in a timely manner.
If you require any further information or have any questions, please do not hesitate to contact me.
Sincerely,
[Your Name]
Sample #8
Dear [Landlord’s name],
I hope this letter finds you well. I am writing to inform you that I have received your notice of lease renewal with a rent increase. After careful consideration, I regret to inform you that I will not be renewing my lease under these terms.
While I have enjoyed living in this apartment and appreciate your efforts to maintain the property, the proposed rent increase is beyond my current budget.
As you know, I have been a reliable tenant, always paying rent on time and taking good care of the property, and I hope you can understand my position.
Please consider this letter as my formal notice of non-renewal. I will vacate the apartment by the end of my current lease term, which is on [date]. I will ensure that the apartment is in good condition and will hand over the keys to you on the day of my move-out.
Thank you for your understanding and cooperation in this matter.
Sincerely,
[Your name]
Sample #9
Dear [Landlord’s Name],
I hope this letter finds you well. I am writing to inform you that I will not be renewing my lease for the upcoming year.
I have thoroughly enjoyed living in [Property Address] and appreciate the effort you have made to maintain the property. However, the proposed rent increase is beyond my budget and I am not in a position to afford it at this time.
I understand that the increase is necessary for the upkeep and maintenance of the property, but unfortunately, it is not feasible for me to continue living here with such an increase in rent.
I will ensure that I vacate the property by the end of my lease term, which is on [Lease End Date]. I will also make sure that the property is left in the same condition as it was when I first moved in.
Thank you for your understanding and cooperation in this matter.
Sincerely,
[Your Name]
Sample #10
Dear [Landlord’s Name],
I hope this letter finds you well. Thank you for offering me the opportunity to renew my lease for the upcoming year. After careful consideration, I regret to inform you that I will not be renewing my lease at this time.
The main reason for my decision is the rent increase that is being proposed. As much as I have enjoyed living in the apartment and appreciate the services you have provided, the proposed rent increase is not feasible for me at this time.
I have carefully reviewed my budget and explored other housing options but have found that the rent increase is beyond my means.
Please know that my decision is not a reflection of any negative experiences I have had during my tenancy. I have enjoyed living in the apartment and have appreciated your prompt responses to any issues that have arisen.
However, given the current economic climate and my personal financial situation, I must prioritize my budget and make difficult decisions accordingly.
I will ensure that the apartment is returned in the same condition as when I moved in and will cooperate with you in all aspects of the move-out process. I would appreciate it if you could provide me with any information or instructions regarding the move-out process.
Thank you for your understanding and cooperation. I wish you all the best in finding a new tenant for the apartment.
Sincerely,
[Your Name]
How To Write A Letter Of Decline Lease Renewal For Rent Increase
When you receive a notice of lease renewal with a rent increase, it can be a frustrating and overwhelming experience. The decision to renew or decline the lease may depend on various factors, such as personal finances, market rates, and the condition of the property.
If you have decided to decline the lease renewal with a rent increase, it’s essential to communicate your decision in a professional and respectful manner.
Here we will share six tips for writing a letter of decline lease renewal for rent increase.
1. Start with a positive tone
No matter how frustrated you may feel about the rent increase, it’s important to start your letter on a positive note.
Express your gratitude for the opportunity to live in the property and the positive experiences you’ve had during your lease term. This approach will help to set a respectful tone for the rest of the letter.
2. Explain your decision
Be clear and concise in explaining your decision to decline the lease renewal. You don’t have to disclose all the personal reasons for your decision, but provide a general rationale that’s relevant to the situation.
For example, you could say that the rent increase is beyond your budget, or that you’ve found a more affordable or suitable property elsewhere.
3. Highlight your lease terms
It’s important to remind the landlord of the terms of your lease agreement, especially if they’re trying to renegotiate the terms mid-lease.
Mention any clauses related to rent increases, lease renewals, and termination procedures. This will help to assert your rights as a tenant and demonstrate that you’re familiar with your legal obligations.
4. Offer alternative solutions
If you’re open to negotiation, you could offer alternative solutions that could benefit both parties. For example, you could propose a lower rent increase or a longer lease term with a lower increase in subsequent years.
Alternatively, you could suggest improvements to the property that would justify a higher rent increase, such as upgrades to appliances or building amenities.
5. Provide a clear timeline
Be clear about your timeline for vacating the property if you decide not to renew the lease. Provide a specific move-out date that’s within the notice period required by your lease agreement or local laws. This will help to avoid any confusion or misunderstandings between you and the landlord.
6. End with a positive note
End your letter on a positive note, thanking the landlord for their understanding and cooperation. Reiterate your willingness to cooperate during the transition period and ensure that you leave the property in good condition.
This approach will help to maintain a good relationship with the landlord and avoid any potential conflicts or disputes.