Rent Changes within a Tenancy

Landlords must fix the rent and may increase the rent on a property at certain points.  Whether you are a tenant or a landlord it is imperative for you to understand exactly how the rent can be fixed or increased.  Advice is available from real estate professionals regarding letting properties.  A landlord may wish to consult with a professional before outlining the rent on a home.  As the tenant you may also want to understand how the landlord derived the rental income they are asking for.
Let’s take a look at assured tenancy first.  Under an assured tenancy you must pay the sum you agreed on with your landlord. This sum would have been fixed at the time you signed the tenancy agreement.  The amount of the rent will be clearly stated in the agreement.  If there are any clauses having to do with rent they must appear in the terms and conditions of the tenancy agreement.

A clause you might see in the tenancy agreement is a rental increase.  The tenancy agreement may state that the landlord is allowed to increase the rent during your tenancy.  It could also state that the rent cannot increase until the contract date has ended.  Most tenancy agreements agree not to change the rent during a one year period. If a clause does not exist in the tenancy agreement stating rental increases are allowed during tenancy you have recourse action that you may take.  You can appeal to the court regarding rent assessment.  The situation can be rather complicated when it comes to raising the rent.  However, keep in mind that the tenancy agreement typically states very clearly what can occur.

Assured short hold tenancy also requires you to pay the rent you agreed with in the tenancy agreement.  The rent is only for the fixed period inside the agreement.  For example if you are renting a home from January 1 2009 to June 30, 2009 the rent is set at a fixed amount.  The rent cannot be increased unless otherwise stated.  The tenancy agreement may state that after six months the rent can increase.  If you agree to this clause in the tenancy agreement you must adhere to the rule.
In both types of tenancy agreements there are special procedures in which a landlord can seek to raise your rent, even though it is not allowed in the agreement.  You will want to understand these situations and a Risk Assessment Committee will be able to hear your information regarding the rental increase that has been proposed.  It is a good idea to speak with a professional if your landlord tries to increase your rent without listing that in the agreement.

As the tenant you have the right to “fair rent.”  A rent officer can determine this amount, especially if you believe the rent has been increased beyond what is fair for the property.  Before you begin renting a place you should be aware of the changes that can be made during tenancy.