Rent Increase Threshold?

[Dazz]

I've also been told by two different PM's that there is a $30 cap increase in Queensland.

If that's true - glad we don't invest there.....but that can't be right - surely ??

In Feb. we are increasing the rent on one of our tenants by $ 52 p.h. They are locked in and have to accept it. No right of appeal. No laws to quote back to us. We feel that's not excessive.

 

[wylie]

There is no $30 cap in Queensland.

 

[The Fence]

In Feb. we are increasing the rent on one of our tenants by $ 52 p.h.

$52 per hour....?
You are tough dazza....

 

[lizzie]

unless he means per hectare - or perhaps per hundreth of a meter ....

 

[Dazz]

unless he means...

I meant per hour lizzie.

Currently they pay $ 58 / hr. It's jumping up to $ 110 / hr. That'll do them for a few years....now I need to work on the rest of the gaggle....

This Landlording gig is quite good fun when Laws don't restrict you.

 

[lizzie]

oh - that's interesting dazz ... any chance of more info.

i would've thought that you charge your comm tenants by the size of the property, ie, per m2 - do you actually charge them on a 365day/24hr percentage?

 

[Ausprop]

oh - that's interesting dazz ... any chance of more info.

i would've thought that you charge your comm tenants by the size of the property, ie, per m2 - do you actually charge them on a 365day/24hr percentage?

sounds lile a house of ill repute?

 

[wally]

dammit! why dont my tenants put in aircon or a new kitchen!

just worked out the rents i get- $1.60 and $1.96 per hour
seems a bargain to me. lol

 

[Dazz]

i would've thought that you charge your comm tenants by the size of the property, ie, per m2

....yes indeed you are correct Lizzie.

The nett lettable area (NLA) is charged on a per square metre per annum (psmpa) basis. The carparks are charged on a per carbay per calendar month (pcbpm) basis.

I equated everything back to an hourly level to make it fit in more with what the discussion was. It is interesting however to calculate what you are charging your tenants on an hourly basis. They sure are getting a screaming bargain done on a 365/24 basis.

A house rented for $ 336 p.w. is being charged at $ 2 per hour....and the tenants are saying the rents are too high ??? They get alot for $ 2 / hr.

House of ill repute....my word Ausprop....that's a hell of a good idea. I believe they charge slightly higher than $ 2 / hr to use those assets. I'll have to take advice from you on that score however.

I guess that's why business owners make higher cashflows than Landlords.