Unless the lease states some specific period of time, the amount of notice depends on the rent payable period. If the tenant continues to occupy the premises even after the expiration of the lease, then they are given 25-30 days.
Property Managers can cost between 5% and 12% of your weekly rent. So, for an $800 per week rental fee, you’ll pay between $40 and $96 a week. As well as Management Fees, there are also Letting Fees (for acquiring new tenants on your behalf), Marketing Fees, Lease Renewal Fees, Tribunal Fees (if a tenant issue is taken to court) and an Annual Statement Fee. Fees and services provided for this amount vary, so do your research to find the best option for you.
In NSW, for fixed-term agreements of less than two years, a landlord or agent can only increase the rent if it’s specifically mentioned (i.e. the exact amount of increase) in the lease terms. For fixed-term agreements of 2 years or more, the rent can only be increased once a year. In all states, a landlord has to give 60 days’ written notice of a rent increase. The tenant then has time to decide whether they want to stay or go.
The landlord or agent must give the tenant at least 60 days' notice of any rent increase, using the Notice of Rent Increase.
If your tenant falls behind with rent, there are a few steps you can take:
Hopefully, it won’t get past number 2 or 3, but if it does, know that the law is on your side – seek expert advice and get the problem resolved.
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