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rent increase regulation query

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  • rent increase regulation query

    A 2 yr FTT agreement includes provision for rent increase and it is proposed to increase the rent in the last 6 months of that tenancy, from $375pw to $395pw.

    At the end of that tenancy, it is proposed to offer the same tenant a new FTT. It’s also proposed that the new FTT rent will be increased further from $395 to $410pw, to catch up with - but not match - market rent fiqures (RBNZ and BC indicate $450.pw) .

    This would result in 2 rent increases within a 12-month period. Our aim is to reduce the impact of what could be a significant change for the tenant, otherwise.

    Does the expiry of one tenancy and beginning of a new tenancy override the “once per 12 months” rent increase regulation?

  • #2
    Nope (mamc)

    www.3888444.co.nz
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    • #3
      ^^ a different tenant yes - the same tenant no.

      A question for Keys - as the rent increase rule overrides the FTT proposed rent increase - wouldn't this mean that after 12 months of the FTT - the rent can be increased with the following increase after next 12 months?

      cheers,

      Donna
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