Increase cash rent for 2016

Asked July 20, 2016, 3:31 PM EDT

What kind of notice must be provided to our current tenant that we plan to increase rent for the 2016 crop year? Are there dates that need to be met?

Dallas County Iowa

1 Response

Steven Johnson with ISU Extension can help you directly; a link to his web page is below. Especially with the rental rate question. There are specific dates to be aware of. 1 September is a date you must cancel a verbal rental agreement by or the agreement self-renews at current terms. Steve can tell you how that must be done. There is a formal way to cancel the rental agreement. Many lawyers will help with that cancellation as well.Written agreements may have different dates but often follow the 1 Sept date. If you do not currently have a written agreement, do so. Too often the difficulties in rental arrangements arise from the lack of one.