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Bingo again, thanks GA.Monopoly
Perhaps as FF they are more holiday lets? I know my FF can rent at a premium over the summer. To new tennats not the exisitng ones.
Not sure if the legality of it, however I know that Fair Trading can pull you up on it if it is excessively higher than the going rate, and you will be forced to reduce it to be in line with the rest of the market.Is it legal to up the rent by $60 in one hit to the existing tenant?
I have increased 2 rents recently but only by $20 and $30pw.
However this article came through my inbox recently:
http://www.theaustralian.news.com.au/story/0,,24950557-25658,00.html?from=public_rss
January 23, 2009
"THE inner suburbs of Sydney and Melbourne have experienced a surge in rental vacancy rates as tenants seek cheaper accommodation further from the city, heralding the end of the blue-chip rental crisis."
Is it legal to up the rent by $60 in one hit to the existing tenant?
How would you like it if your regular mechanic one day decided to charge you not the usual $150 for a service, but $210 for no good reason.