The thing is for me the rent increases do not follow any particular formula. The last increase was few years ago when insurance costs shot up. Perhaps I could charge more but Chch rents have dropped. If I have to come up with a formula, the rents will go up faster if I stick to it.
I'd still be wary about pinning increases to a calculation of old market stats so would want to use MBIE stats any more than a reality check. I'd rather look at current asked on Trademe but there isn't always enough comparable properties. So I consider a number of variables and come up with a figure. How do I put that into a method for the new tenancy forms.
It may be a while before I need to worry about this - the last tenant I signed up was 2010!
I'd still be wary about pinning increases to a calculation of old market stats so would want to use MBIE stats any more than a reality check. I'd rather look at current asked on Trademe but there isn't always enough comparable properties. So I consider a number of variables and come up with a figure. How do I put that into a method for the new tenancy forms.
It may be a while before I need to worry about this - the last tenant I signed up was 2010!
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