Increasing rent during fixed term lease

Discussion in 'Property Management' started by mojorising, 22nd Sep, 2020.

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  1. mojorising

    mojorising Well-Known Member

    Joined:
    1st Mar, 2017
    Posts:
    79
    Location:
    Gold Coast, QLD
    If I agree to install air-con in a rental property in exchange for an increase in the weekly rent from the tenant (with a fixed term agreement already in place and not due to expire until 2021) then is there a way to do this without having to organise signature of a new lease?

    e.g. can you just get an agreement in writing (by email) that the tenant agrees to an increase of $xx per week in rent in exchange for air-con

    Or is there a more formal way to approach amendments to a lease that do not involve re-drafting the lease from scratch?

    This is in QLD.
     
    Lavissa Waters likes this.
  2. Tom Rivera

    Tom Rivera Property Manager Business Member

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    1st Jul, 2015
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    2,718
    Location:
    South East Queensland
    You will probably get away with getting a written agreement, but you really should draft a new lease.
     
    Lavissa Waters likes this.
  3. Michelle Evans

    Michelle Evans Well-Known Member

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    18th Oct, 2017
    Posts:
    257
    Location:
    Bacchus Marsh
    An alternative to altering the lease is to ask for a contribution to the cost (That would equal the rent increase over the rest of the current lease) then renew the lease at an increase when the time comes.

    In Vic rent increases are not possible right now so you need to think outside the square. Just be careful in how it's worded and drafted that's all (I understand you're in QLD so you may not have rent increase issues currently)
     
    mr_alex likes this.