Document background
The Rent Review Letter is a crucial document in Philippine property management that formalizes the process of adjusting rental rates. It is typically used when a landlord wishes to modify the rent amount in accordance with lease terms and Philippine law, particularly the Rent Control Act of 2020 which caps annual increases at 2% for qualified residential units. The document serves multiple purposes: it provides formal notice of the intended change, demonstrates compliance with legal requirements, outlines the justification for the adjustment, and establishes a clear record of the communication between parties. This letter should be issued within the timeframe specified in the original lease agreement and must adhere to local government regulations regarding rent increases. The document is essential for maintaining transparent landlord-tenant relationships and ensuring legal compliance in the Philippine rental market.
