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HomePropertyRent Increases, Your Rights And Tips

Rent Increases, Your Rights And Tips

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Written by Local Property Team Logan

Hearing that the rent might be going up is news no tenant wants to hear, nonetheless it’s a fact of life for many renters.

But how much can a landlord increase the rent by exactly? And when can they do it? Do tenants have a right to negotiate or complain? Here’s everything you need to know.

What’s a reasonable rent increase?

Unsure what reasonable rent is? the trick is to look at comparable properties and compare what they charge in rent. If your rent is considerably lower than the median rent then you may be in the position of being asked for more.

The overall rental market in a particular area – and where a property sits within it – is the “comparative market”. For example, if a suburb’s median rent has gone up by 5% on average and a property is well situated and in good condition, it’s logical for it to rise too.

Rent increases are generally influenced by supply and demand, comparative markets, and
the availability of a substitute. When there is more demand than supply, landlords have more
power when it comes to rent negotiations.

The availability – or not – of an exact comparison also has a big influence; that is to what
extent can a tenant find an equivalent, suitable property? If there aren’t many options, again
the landlord has more negotiation power.

Typically, in Queensland, over the past couple of years, if a property is going to see an increase, we would normally see an increase of between 2% and 10%,

How often can a landlord increase your rent by and how much notice is required?

How often a landlord can increase a tenant’s rent by and how much notice is required differs between states, but mostly speaking, it can’t be done during the tenancy, unless it’s by agreement or the lease allows for it. If a landlord wants to increase the rent, it’s usually done at the end of a lease, before a new one is signed.

Can a landlord backdate a rent increase?

No, a rent increase cannot be backdated. That’s because in every state, the landlord has to provide notice of some kind.

Looking to Rent a Property in Brisbane or the Gold Coast?
Check our latest rental properties available: https://www.lpteam.com.au/rent
Contact the friendly and professional team at Local Property Team Logan on (07) 3804 3555, make an appointment with one of our agents.

Don’t have time in your busy schedule then email us: office@lpteam.com.au

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