Landlord Query Of The Week : Rent Increase

Landlord Query of the Week:

29th May 2019

My property is in a Rent Pressure Zone, I have not increased my rent since 2017, I have three tenants on one lease agreement, one tenant is leaving with a replacement in July. I have served a 90 days increase notice , how does the replacement tenant fit in with the increase? The increase will not come into affect until August.

IPOA Reply: 

*Private landlords must follow certain procedures and rules if they want to raise the rent. The rules are set out in the Residential Tenancies Act.

Based on the information provided in the question – the Tenancy is what is key in this situation.  The new tenant is joining the existing tenancy and therefore assumes the balance of rights and obligations of the person that is leaving that lease.  He/she will join the lease in July at the current rent and should be advised that a 90 day’s rent increase notice has been served and will come into effect in August.

If your property or tenancy is in a Rent Pressure Zone? Find out the maximum rent amount permitted for the dwelling by using the RTB Rent Pressure Zone Rent Calculator

 

Have a Question? Submit your Query to IPOA Today!

Categories: Landlord Legislation, Landlord Query of the Week, and Rent Pressure Zone.