FAQS: RENT INCREASES

 

The Real Estate Institute of Queensland (REIQ) Property Management Support Service (PMSS) team fields up to 100 calls a week from REIQ members seeking clarity on certain topics – with rent increases the trending topic of late.

Q: The tenant is on a periodic tenancy, how much notice is required to give a rent increase?

A: The rent can be increased with a minimum of two months written notice. The notice could be given to the tenant at any time, but the rent increase cannot commence sooner than six months after they started paying the current rent amount.

 

Q: The tenant is on a fixed term tenancy, can I increase their rent during their fixed term?

A: Yes, but only if the below criteria are met:

  • the rent increase was included as a special term of the signed tenancy agreement from the very beginning, stating when the rent would increase and the amount of the increase or how this is to be worked out;
  • a minimum two months’ written notice is provided; and
  • the increase doesn’t commence sooner than six months after they started paying the initial (current) rent amount.

Q: We have a new tenancy on a three-month agreement. At the end of the agreement we are negotiating a further three-month agreement with the same tenants, can we increase the rent?

A: No. A rent increase cannot commence if it is sooner than six months after the current rent became payable.

To read the complete article published on rpdata.com.au, click here