The Residential Tenancies Act Prescribed Terms state; ‘The amount of the rent shall not vary from period to period except as provided for in the agreement and The residential Tenancies ACT.’ And ‘The rent may not be increased at intervals of less than 12 months from either the beginning of the tenancy agreement for the first rental increase, or after that, from the date of the last increase'.
At Maloney’s you can generally expect your rent to be increased every 12 months. We will always give you at least eight weeks’ notice and this will be kept in line with your normal rent due date.
We will increase your rent using the formula provided in the Residential Tenancies Act that the tribunal use for determining fair increases; this means that the rental increase is deemed to be a fair amount taking into consideration the current CPI.
If you think that the increase is excessive or would like to make an offer of a lower amount please advise us in writing and we will contact the lessor for further instructions. If an agreement cannot be reached as to the amount of the increase you may make an application at the tribunal to have the matter heard by a registrar. The tenancy agreement states that you must do this before the increase comes into effect, at the tribunal a registrar will make an order that both parties must adhere to without question.
