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Rent increase on new IP

Discussion in 'Property Management' started by retire@45, 9th Oct, 2015.

  1. retire@45

    retire@45 Active Member

    Joined:
    30th Jul, 2015
    Posts:
    31
    Location:
    Sydney
    In NSW we have a IP settling end of month (Oct), current rent is $240 market rates are $280 based on similar listings and PM valuation. Current lease is periodic i.e. not under a term lease

    Am I right in assuming I can't increase rent until settlement + 60 days? From what I've read its 60 days plus postage and assume I can't start this pre settlement as we aren't the legal owners?
     
  2. HD_ACE

    HD_ACE Game-Changer Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    449
    Location:
    Perth
    Why don't you get current owner/agent to serve the notice?
     
    legallyblonde likes this.
  3. retire@45

    retire@45 Active Member

    Joined:
    30th Jul, 2015
    Posts:
    31
    Location:
    Sydney
    Good question I guess I can ask, thanks
     
  4. Greyghost

    Greyghost Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,259
    Location:
    Melbourne
    Agree with HD..