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Rent increase - how much is too much?

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  • Rent increase - how much is too much?

    Hi All,

    Landlords have one crack at it every year. If the tenant accepts your rent increase but leaves after a month you're stuck with the rate for the next 11 months (is my understanding of the new rules). Therefore getting the increase amount just right is challenging - if you want to keep your tenant.

    Do you think increasing the rent by $55 a week - that's $2860 for the year when previous increases have been around $10 - $15 is excessive?. Many of you may be wondering what all the fuss is about and just say 'go for it'.

    Is anyone else experiencing indecision with rent increases?


    cheers,

    Donna
    SEARCH PropertyTalk, About PropertyTalk

    BusinessBlogs - the best business articles are found here

  • #2
    The idea was floated to tie rent increases to the property, but so far it is tied to a tenancy agreement. So the clock resets with a new TA. (So far!)

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    • #3
      I charge market rent always have always will.

      My rents can increase by as much as 80 pw or as low as 10 across my portfolio.

      The market dictates my increases not my emotions.



      Comment


      • #4
        Originally posted by Jeffa View Post
        I charge market rent always have always will.

        My rents can increase by as much as 80 pw or as low as 10 across my portfolio.

        The market dictates my increases not my emotions.


        That includes lowering rent in an over supply market.

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        • #5
          Originally posted by Jeffa View Post
          That includes lowering rent in an over supply market.
          When did that last happen to you?

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          • #6
            Originally posted by Perry View Post
            When did that last happen to you?
            2015 Wellington

            2016 CHCH

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            • #7
              Originally posted by Jeffa View Post

              2015 Wellington

              2016 CHCH
              Auckland apartments at the moment.

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              • #8
                Originally posted by Jeffa View Post

                2015 Wellington

                2016 CHCH
                Is that only for new tenants or for existing too?

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                • #9
                  Originally posted by hawkeye View Post

                  Is that only for new tenants or for existing too?
                  Wellington was a new tenancy I think I dropped rent 20 or 30$ to get someone in.

                  Chch I think I dropped it $40 to keep the tenant they left anyway.

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                  • #10
                    Originally posted by Jeffa View Post

                    Wellington was a new tenancy I think I dropped rent 20 or 30$ to get someone in.

                    Chch I think I dropped it $40 to keep the tenant they left anyway.
                    Excuse my Auckland ignorance Wellington Porirua Hutt is all the same to me.

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                    • #11
                      Originally posted by artemis View Post
                      The idea was floated to tie rent increases to the property, but so far it is tied to a tenancy agreement. So the clock resets with a new TA. (So far!)
                      Ok thanks fingers crossed it stays this way.


                      cheers

                      Donna
                      SEARCH PropertyTalk, About PropertyTalk

                      BusinessBlogs - the best business articles are found here

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