Hi All,
I am extending my lease for another 12months. On my new lease, there is a page for the 'Special Terms'. I do not quite understand one of the terms, hope some kind soul can enlighten me.
The Lessor and the tenant/s of the aforementioned property, hereby agree that the Lessor has the right to serve the tenants notice of rent increase any time prior to the expiration of the lease, and this notice of rent increase shall have a notice period end date of later 1 month after the notice date or the last day of the lease.
Does it means, Lessor can increase the rent anytime during my 12months lease?
Cheers
NitIts hard to read and understand long sentences like that isn't it.
My interpretation is this:
Lessor can serve notice of increase prior to expiration of the lease.
The notice for this increase is the later of
– 1 month after the notice date / or
– last day of the lease.So they cannot increase the rent during the lease. If they want to increase the rent after the lease, they must give at least 1 months notice.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Nitro, which state are you in? This clause may contravene the RTA if it is not a standard lease (NSW requires that 60 days notice be given for a rent increase).
Thanks mate for all the kind replies.
i am renting in Brissy. Btw, the same clause happens to be in my current lease (24mths) which is expiring next month.
So, does this conflict with RTA?
Cheers
Nit
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