Rent increase changes for landlords
Hi everyone, Andrew from Personal Property Management with an update on the new law change that has happened this month.
The new law states:
Landlords cannot increase the rent within the first 12 months of the tenancy starting, and then only once every 12 months.
Previously you could do this every 6 months.
Currently, due to COVID we are still in the government's freeze of any rent increase, but that will finish on September 25th, 2020.
So, if you are wanting to increase the rent at your property you can serve your 60-day notice now as long as it has been 12 months or more since your tenants moved in or the last increase.
If anyone needs help with understanding the new law or with any rental inquiries please feel free to call me on 0274888933
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