How much notice do I give to increase the rent?

Summary:

A landlord or rental agent by law has to give 60 days notice for a rental increase and can only do so if:

It has been 180 days or 3 months from the date of the tenancy agreement if a periodic tenancy and can only do so with a fixed term tenancy if in the tenancy agreement there are clauses or provisions saying it can occur.

Mostly, you have the ability to raise the rent within market rates or after 6 months of the fixed term tenancy the rent can be reviewed.

Below is how a form should be laid out as notice has to be given in physical format.

60 DAY NOTICE TO INCREASE RENT

Part 2, Section 24, Residential Tenancies Act l986

Dear ……………………………………………

Re: Tenancy at ……………………………………………………………

In line with current market rents I am hereby giving you 60 days notice that the rent will increase to $............... on ….…/….…/……...

Please make provision for this increase.

If you wish to discuss the matter, please phone me on………………...

Yours faithfully,

Landlord / Agent* …………………………………………..

Dated .……/………/……...

Delivered by mail / by hand into letterbox / by hand to tenant.*

* Cross out that which doesn’t apply.

TRANSCRIPTION:

Good day, Andrew Murray here from Apartment Specialists talking about how much notice you need to give to increase the rent for your tenant. Now, very quickly, it's 60 days notice, and that's for a rental increase. It has to be given in a written format, or it's given to them in a physical format. Which is typed or hand-written and delivered to them.

You can not increase the rent any earlier than the 180 days before a periodic tenancy is signed. it's 180 days from when a fixed term tenancy is signed. You can only do it in a fixed term tenancy if in that fixed term tenancy are clauses or provisions saying that you can. Update the rent with the market rent or put it up after a certain period. The most common in a fixed term tenancy is six months and after six months in a fixed terms tenancy, a rent review can take place.

Now, I hope that that helps and provides the information for you to see what you have to give to the tenant to notify them of a rental increase.

Andrew Murray, Apartment Specialists.

If you have any questions, flick me an email at [email protected] or call +6421 424 892 and I’ll be happy to answer your queries.

Cheers!