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Changes to rent increases
What's changing?
- Rent increases will be limited to once per year.
- Landlords must give tenants at least two months’ notice of a rent increase.
- Tenants will have the right to challenge unfair rent hikes through a tribunal.
- Only 1 months rent in advance can be requested once any tenancy agreement has been signed, and before the tenancy commencement date.
How to prepare
- Set up a rent review calendar - plan rent adjustments in a structured way.
- Ensure rent increases are based on market conditions to avoid disputes.
- Keep clear records of rent changes and justifications.
- Do your research - get to know your local market.