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Rental Law Changes - Rent Increase Frequency Changes From 1 July 2023
Legislation changes to limit rent increase frequency to once a year will come into effect from 1 July 2023. The annual limit on rent increase frequency will apply to all new and existing tenancies.
Any rent increase after 1 July 2023 will only be valid if it has been 12 months since the previous rent increase. More frequent rent increases written into tenancy agreements prior to 1 July 2023 will not apply.
This applies for the duration of the tenancy if at least one tenant or resident is the same when the agreement is renewed. The 12-month minimum period continues to apply if there is a change to the rental property owner or manager.
Once the new legislation comes into effect, rent may only be increased within a 12-month period if:
- there is a new tenancy agreement and
- none of the tenants are the same as those on the previous agreement.
If you would like more understanding of the changes in rental laws, please contact your property manager today.
Posted on 26 April 2023
Disclaimer: This blog post is not to be considered legal advice. If you are seeking specific legal advice we suggest that you consult a legal professional before making any significant decisions in this regard.
Reference: RTA, Rent increase frequency changes, https://www.rta.qld.gov.au/forms-resources/rental-law-changes/rent-increase-frequency-changes#:~:text=From%201%20July%202023%2C%20changes%20to%20limit%20rent,least%2012%20months%20since%20the%20previous%20rent%20increase.