New Rental Increase Legislation

Are you aware of the new changes?

Rental Increase Legislation takes effect from 1 July 2023.

What you need to know about the new Rental Increase legislation… 🏠📜

From 1 July 2023, changes to limit rent increase frequency to once every 12 months will come into effect for all new and existing tenancies. 📅🚫

Any rent increase after 1 July 2023 will only be valid if it has been at least 12 months since the previous rent increase. More frequent rent increases written into tenancy agreements prior to 1 July 2023 will not apply.

The rent increase frequency changes apply for the duration of the tenancy if at least one tenant or resident is the same when the agreement is renewed.

Once these changes come into effect, it will be an offence under the Residential and Rooming Accommodation Act 2008 (the Act) to increase the rent more frequently than once every 12 months. 🔒

  
Want to know more about the upcoming minimum housing standards for rental properties or have a general question regarding tenancies. The team at BlueChip Rentals are always here to help steer you on the right path by protecting your investment. Call us for more advise.