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Rent Review

A rent review is a process where the current property market is examined to see if the rent amount is fair and reflects current conditions.

What is a rent review?

A rent review is a process where the current property market is examined to see if the rent amount is fair and reflects current conditions.The outcome can result in the rent increasing, staying the same, or sometimes decreasing. 

How often does a rent review happen? 

Rent reviews typically happen every 3-5 years or even annually depending on your landlord. With this said, under a tenancy agreement of more than 2 years, landlords are able to adjust the rent every 12 months given 60 days written notice. 

Factors considered in a rent review

Important factors looked at in a rent review can typically include: 

  • The current rent for similar properties in the area
  • Economic conditions such as inflation and CPI data
  • Any renovations or improvements made to property

Talk to a local agent about market performance

Is now a good time to sell? Talk to a top agent about market performance in your area.

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