Rent increase at lease renewal: plan and preview increases as leases end
Oak Hill Residences has four units, and each lease on Units & Leases carries a Lease end date, Days to lease end, a Lease flag and an Increase % that feeds a Rent after increase preview. The preview never changes Monthly rent: you do that.
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General information only, not tax, legal or accounting advice. Late-fee, deposit and notice rules vary by state, city and lease; check your own. Names and numbers in the example are invented.
What changes for this kind of rental
You type Lease end for each unit. Days to lease end is Lease end minus the as-of date on Start Here, and the Lease flag follows it: it marks a lease whose Days to lease end falls inside the 90-day or the 60-day window. The flag is a cell you read when you open the sheet. It sends no reminders or notices, and your lease and local rules decide any notice period.
Increase % is typed per unit, as a percentage. Rent after increase is calculated from Monthly rent and stays blank until both cells are filled. It is a preview only: Monthly rent does not change by itself. When the new rent is agreed in writing, type it into Monthly rent yourself, and into the Rent Ledger rows from the month it starts, because each ledger row holds the rent you typed on it.
A worked month: Oak Hill Residences
Invented names and numbers, to show the shape. 4 units on the Units & Leases tab, all with the Property cell set to Oak Hill Residences.
| Unit | Tenant | Monthly rent |
|---|---|---|
| A | Iris Nakamura | $1,800 |
| B | James O'Brien | $1,650 |
| C | Kim Park | $1,900 |
| D | Leah Cohen | $1,750 |
Occupied units schedule $7,100 a month.
One Rent Ledger row per occupied unit for the month:
| Unit | Tenant | Rent due | Amount paid | Balance |
|---|---|---|---|---|
| A | Iris Nakamura | $1,800 | $1,800 | $0 |
| B | James O'Brien | $1,650 | $1,650 | $0 |
| C | Kim Park | $1,900 | $1,900 | $0 |
| D | Leah Cohen | $1,750 | $1,750 | $0 |
| Total | $7,100 | $7,100 | $0 |
The month shows $7,100 collected of $7,100 scheduled, with $0 still owed.
Bills for the month, one Expenses row each:
| Bill | Category | Amount | How it is logged |
|---|---|---|---|
| Property taxes, quarterly share | Taxes | $675 | Property level, not split |
| Roof inspection and minor repair | Repairs | $320 | Property level, not split |
| Trash and recycling service | Utilities | $180 | Split by units: 4 units, $45 each |
| Landscape maintenance | Cleaning and maintenance | $240 | Split by units: 4 units, $60 each |
| Total | $1,415 |
The split bills total $420. The Expenses tab divides each equally by the number of units listed for the property (4), so each unit carries $105 of them.
Rent after a 3.5% increase
Type the Increase % on Units & Leases and the Rent after increase column previews the new rent. It is only a preview: change Monthly rent yourself once the new rent is agreed and in writing.
| Unit | Tenant | Current rent | Increase % | Rent after increase |
|---|---|---|---|---|
| A | Iris Nakamura | $1,800 | 3.5% | $1,863 |
| B | James O'Brien | $1,650 | 3.5% | $1,707.75 |
| C | Kim Park | $1,900 | 3.5% | $1,966.50 |
| D | Leah Cohen | $1,750 | 3.5% | $1,811.25 |
Where each piece goes in the workbook
- Units & Leases: Type Lease start and Lease end from each signed lease and set Status to Occupied. Days to lease end and Lease flag fill from those cells, and Deposit held fills from the Deposits tab.
- Units & Leases: In the same unit row, type the Increase % you are considering, as a percentage. Rent after increase appears beside it, so you can retype the percent and compare each result with the current Monthly rent before you talk to the tenant.
- Rent Ledger: Once the new rent is agreed in writing, type it into Monthly rent on Units & Leases, then use it on the Rent Ledger rows from the month it starts. Earlier rows keep the old rent because each row holds the rent typed on it.
- Start Here: Set the as-of date: a fixed date keeps an example still, and =TODAY() suits live use. Days to lease end counts from it, so the Lease flag moves as that date moves.
Two formulas worth a cell of their own
- Units in a property, the number behind every split:
=COUNTIF('Units & Leases'!$B$6:$B$15,"Oak Hill Residences")returns 4 here. - Rent paid by one unit across the ledger:
=SUMIFS('Rent Ledger'!$G$6:$G$505,'Rent Ledger'!$A$6:$A$505,"A")returns $1,800 on this example. - The rent preview, in the Rent after increase column:
=ROUND(F6*(1+L6),2)with Increase % typed as a percentage.
Four tracking tips
- The 90 and 60 day windows are two typed cells on Units & Leases, beside the rent roll, so a longer lead time is a change you make there. The flag only marks a window; any notice a rent change needs is for your lease and local rules.
- After you type the agreed rent into Monthly rent, clear Increase % for that unit. Otherwise Rent after increase applies the percent again on top of the new rent, and the preview looks like a second raise.
- When Lease end is before the as-of date, Days to lease end goes negative and the Lease flag reads Expired. Type the new Lease end once a renewal is signed, or the unit keeps showing as expired.
- Rent after increase is rounded to the cent, so some units show cents, as the table above does, and the agreed rent may be a rounder number. Type what the written agreement says into Monthly rent, not the preview.
Questions
Why are Days to lease end and Lease flag blank for one unit?
Days to lease end is blank when the unit row has no Lease end or its Status is not Occupied, and the Lease flag stays blank whenever Days to lease end is blank. Check that the Lease end date is typed and that Status reads Occupied for that unit.
Can I test several Increase % values before I decide?
Yes. Increase % is one cell per unit and Rent after increase recalculates as you retype it, so you can try one percent after another against the current Monthly rent. Nothing else moves: the preview feeds no total and no Rent Ledger row.
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