Rent increases tied to CPI? Do you communicate the ceiling to tenant?
With our annual rent increases stating that it is tied to CPI with a ceiling, it seems that we will be able to increase to the max on the upcoming increase. What CPI index do you guys reference to and wen do you communicate this increase to the tenant?

Since the lease states that increase will be between 3-7%, is it typical to just check the CPI a couple months before the increase is to take place and send a letter to tenant notifying them that the increase will be the full 7%?
[{"id": "iyg1xbf", "text": "Here\u2019s a typical lease definition\u2026\n\n\nThe term \u201cConsumer Price Index\u201d (\u201cCPI\u201d) as used in this Lease shall mean \u201cUnited States City Average All Items for All Urban Consumers (CPI-U, 1982-84 =100)\u201d published by the Bureau of Labor Statistics of the U.S. Department of Labor.  If the publication of the Consumer Price Index of the U.S. Bureau of Labor Statistics is discontinued, comparable statistics on the purchasing power of the consumer dollar published by a responsible financial periodical selected by Landlord shall be used for making such computations.  The term \u201cCurrent CPI\u201d shall mean the most recent CPI published for the then current calendar year, and the term \u201cComparative CPI\u201d shall mean the CPI published for the month which is twelve (12) months preceding the month of the Current CPI", "replies": [], "depth": 1}]