Should you expect the rent to go up every year that you renew your lease?

Having the expectation that the rent will go up at the expiration of your lease will only cause worry about something that hasn’t happened yet.

Rent increases are approved by the landlord. Each landlord is vastly different.

Some are not concerned with the financial income, and more about having a good quality tenant that pays on time.

Other landlords, however, really do rely on the rent increases as their costs increase. Their ‘costs’ meaning rates, mortgages, insurances, maintenance and other outgoings.

So our advice is to not have the expectation that the rent will increase at each expiration, however, understand that if it does, it’s not a personal act against you, more so an economic business decision from the landlord.

Source – Rent. com.au