Notice to increase rent NSW

[Rixter]

What's the legal time frame to give a tenant notice of a rent increase in NSW?
Has it recently changed?

 

[Ideo]

Section 41 and 42 of the Residential Tenancies Act is what you want

http://www.legislation.nsw.gov.au/maintop/view/inforce/act+42+2010+cd+0+N

60 days basically.

 

[D.T.]

60 days written notice
Frequency is unlimited on periodic. Once in 12 months on fixed.

NSW Resi Tenancy Act is 2010, so may have changed then, not sure what it was before.

 

[Propertunity]

64 days in practice. 60 days from legislation plus 4 x days postal delivery.

 

[Rixter]

Thanks guys.

I thought it was 60 but wasnt sure if it recently changed.

PM emailed me telling me it was 90 days + 4 days for post as Alan mentions.

Looking at the date the PM sent saying the increase becomes effective it works out to 64 days. (inc post).

Looks like it's a simple typo error on the 90 by the PM.

 

[SeafordSunshine]

60 (4)days with another notice!

Suggest 64 days..

The post gets 4 days allowance,
Then a month before its due send a courtesy note, just to remind them,


I hope this helps

 

[Rixter]

Then a month before its due send a courtesy note, just to remind them,

That's what I do as part of managing my PM's.

I have a software that alerts with a pop up on my pc to message my PM's.

Everything pretty much runs on an auto-pilot system.

 

[RetireRich101]

Is it a property you have somewhere in Parramatta?
did your PM suggest an increase, or do you feel its time for an increase?

My PM's for Sydney Western property suggested not to make any increase. They came out of expiring lease and decide to leave on periodic for now and no increase.

 

[Rixter]

Is it a property you have somewhere in Parramatta?
did your PM suggest an increase, or do you feel its time for an increase?

My PM's for Sydney Western property suggested not to make any increase. They came out of expiring lease and decide to leave on periodic for now and no increase.

IP in South Wenty.

Came out of 12 month fixed lease Sept last year and is now periodic.

I review rents every 6 months.

My dd indicated market movement, so I contacted PM for their thoughts on current market. Suggested a $20 per week increase to keep inline.

They have written to the tenant & the required notice given.

 

[D.T.]

If its going up $20 per week then that tends to indicate it hasn't been increased for 12-18 months. So maybe your PM's arent managing, or maybe you aren't managing your PMs?

 

[nhg]

Not quite relevant,

How are rentals everywhere else? I was under the impression all rentals in Sydney were softening.

I haven't increased my rent in a year. That said, my rents were pretty high to start with.

 

[Rixter]

If its going up $20 per week then that tends to indicate it hasn't been increased for 12-18 months. So maybe your PM's arent managing, or maybe you aren't managing your PMs?

It's definitely not the latter with the systems I have in place. The rent on that property had been fixed since Sept 2013, then I rolled lease to periodic where is been ever since.

So its been 18 months without an increase of which the last 6 months the market has tightened to warrant a $20 increase now.

IMO, tightened due to being priced out of the sales market with the current/recent boom, thus falling back into the rental market - supply & demand.

 

[The Fence]

Don't forget the 4 days postage are business days, so it could be more than 64 days.

 

[Rixter]

Don't forget the 4 days postage are business days, so it could be more than 64 days.

Talking of business days, thats what I put on all my offer/contracts to purchase. ie 30 business days settlement, 21 business days finance etc etc

By doing so, it increases one's breathing space and you're not losing any days due to possible public holidays.