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I want to take this opportunity to express how much I value you as our tenants. Indeed, I acknowledge that finding tenants who take care of the property and pay their rent on time is not ease. Unfortunately, I have incurred some costs relating to my rental properties that prompt the need for rental rates adjustment. As you are aware, the utility bills and raising tax have caused local rents to increase slightly. The property tax bill has become the most significant tax payment. As you may be aware, the one-percent tax rate law throughout the state has frozen the most significant components of the tax rate. Currently, property tax bill is determined by the tax rate and the assessed property value. However, the state limit on assessed value and the tax rate factors have affected the state property taxes. Locally, rent rates have increased by $50 to $300 monthly (Homeguides.sfgate.com, 2016). As The Foundation, we are currently renewing our lease agreement to switch to a monthly lease con...
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