When Can You Put the Tenant's Rent Up?

Apartment Specialists Podcast No: 184

Summary:

Apartment owners who rent out their apartments obviously want to get the highest rent possible, but when can you raise it? Andrew explains the different factors concerning raising the rent relative to tenancy and tenancy agreement law. Watch the video for more details.

When can you put a tenant's rent up?

There isn’t one answer. It depends on what type of tenancy your tenant is signed up to:

Fixed Term Tenancy (set time period)

Or

Periodic Tenancy (week to week)

If your tenants are on a fixed term, you can’t raise the rent unless you have a clause in the tenancy agreement saying you can (that you the landlord can review the rent during the fixed term). It is common to have a clause saying the rent can be reviewed after 6 months.

If your tenant is on a periodic tenancy, you can raise the rent up anytime as long as it has been at least 180 days from the start of the tenancy.

But remember, you have to give your tenant the appropriate notice of at least 60 days before the rent increase is to take place. It must also be deemed fair and it must be in a letter format enabling them to respond.

Upon agreement you should have a rent increase agreement signed or a new tenancy agreement signed up.

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.

TRANSCRIPTION:

Good day, Andrew Murray here from the Apartment Specialists talking about when can you put a tenants rent up? Now there isn't one answer here, it depends on your tenancy agreement. If it's fixed on a fixed term tenancy, you can actually put the rent up if you have a clause in your tenancy agreement saying that you can review the rent.

Let say after six months, or you can review the rent worth according to the market. With a periodic tenancy, a lot of people think you can put the rent up at any time, but that is not the case. You can only do it after 180 days from the date of the tenancy agreement. And also remember, when you either put that rent up you actually have to give 60 days notice and it has to be in written format to the tenant.

You're putting that rent up, so just to clarify and fixed, you can put the rent up but only if you've got clauses in the tenancy agreement allowing you to do so. It's after 180 days from their start date of the tenancy agreement. Periodic, yes you can put the rent up but only if it's 180 days or three months, from the start of that tenancy agreement.

Hope this helped. 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.