Residential Tenancy Agreement Nsw Rent Increase
Residential tenancy agreement NSW rent increase: Everything you need to know
If you`re a tenant in New South Wales, you may be wondering about a rent increase in your residential tenancy agreement. While landlords have legally permitted rent increase rights, there are certain rules they must follow. As a tenant, it`s important to understand these rules to ensure you`re not being taken advantage of. In this article, we`ll cover everything you need to know about residential tenancy agreement NSW rent increase.
When can a landlord increase rent?
A landlord can increase rent after the end of the fixed term of a tenancy agreement. If you`re on a periodic tenancy, the landlord must provide at least 60 days` written notice before any rent increase. If you`re on a fixed-term tenancy, the landlord cannot increase rent during that period without your consent.
How much can a landlord increase rent by?
The rental increase in NSW is limited to once every 12 months. Landlords can increase rent by any amount, but it must be reasonable. According to the Residential Tenancies Act, rent should not be increased by more than the market rate or increase in the Consumer Price Index (CPI) percentage set by the government.
What if you disagree with a rental increase?
If you believe the rental increase is unreasonable or unfair, you have the right to negotiate with your landlord. You can also apply to the NSW Civil and Administrative Tribunal (NCAT) for a rental increase dispute resolution. You must apply within 30 days of receiving the notice of the proposed rent increase.
What if your landlord doesn`t follow the rules?
If your landlord doesn`t follow the rules, you can make a complaint to Fair Trading. They will investigate and take the necessary actions to protect your rights as a tenant.
A residential tenancy agreement NSW rent increase can be a stressful situation for tenants, but it`s essential to understand the rules and regulations surrounding this issue. As a tenant, you have rights, and it`s important to know them to ensure you`re not being taken advantage of. Remember that if you disagree with a rental increase, you have the right to negotiate or even take the matter to the NCAT for dispute resolution. Always read your tenancy agreement carefully and seek professional advice if you`re unsure about anything.