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Nobody likes rent increases – no renter, at any rate – but when are increases fair and what can you do if they aren’t?
“I was just notified of another rental increase of $10 to $440 effective in September,” says Nimrod23 HERE in the Forum. “The previous one was in November 2013. Do I have a case for this to be considered excessive. Other rents for similar apartments in my area range from $425 to $500.”
OK, that is a 2.3 % increase, a lot less that the median rent rise for a two bedroom flat in Greater Sydney, where rents went up by $30 (6.4%) in the last year, according to Housing NSW’s latest report.
Also, the Consumer Price Index for the same period is up 3%. And that all adds up to a tough case to argue at Fair Trading especially since your rent is at a low starting point, compared to others in the area.
Fair Trading will step in where the rent rise is clearly excessive and exploitative, based on the CPI and rents for similar properties in that area. I don’t think this qualifies.
You have three choices: sign a new lease to fix the rent, suck up the rises or hit the road.
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