Renewals - Reviews - Arrears Lease renewals are usually brought to your attention four months prior to the lease expiring. This enables us to implement a rent increase when the new lease agreement comes into effect, giving the Tenant the required amount of notice.
Rent is reviewed annually usually four months prior to the lease expiring. This gives us the required 63 days to implement a rental increase. The rental increase usually commences with the new lease agreement.
We take a very strict view on rent arrears and all arrears over three days are contacted immediately. Firstly with a phone call and then a follow up letter is sent. If the Tenant has not paid the rent by the 15 th day we highly recommend a Notice to Vacate be served on the Tenant to avoid the Arrears being over the Bond amount – thus ensuring you are not out of pocket.
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