Quote:
Originally Posted by Mr.HappySilp
I though there some policy/law in place to limit how much you can increase the rent. Also you can't say kick the person you renting out and then increase rent...... I think is 3% max each year?
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The annual rate is supposed based on the CPI / inflation, etc., and generally however somewhere between 2% - 3% per year.
Others have already pointed out that it doesn't really apply to rental contracts with a specific termination date. My understanding of the wording is, the RTB policy only applies to month-to-month rentals that do not have a contract signed. IMO, any sensible landlord would have signed a contract with his tenant, and the smarter ones would include a fixed term on each contract, and renew / re-sign a new contract when the current one expires.
If you have a good tenant, I'd strongly advise against increasing the rent every year. Those good tenants are worth far more than the measly annual percentage increase allowances.