What should a rent review notice contain?
For a landlord with a tenancy outside a Rent Pressure Zone, the rent can only be reviewed once every two years. This review must be done in line with the current market rent.
If a landlord intends to review the rent, they must inform the tenant in writing a minimum of 90 days before the new revised rent starts. For the rent review notice to be valid it must state:
- The new rent on the property,
- When the new rent starts,
- That any dispute must be referred to the RTB within 28 days of getting the notice or before the date the new rent starts, and
- That, in the opinion of the landlord, the new rent is not greater than the market rent of properties of a similar size, type and character with similar terms of the tenancy in a comparable area,
- The rent for three properties of a similar size, type and character and in a comparable area,
- The date on which the notice is signed.
- The notice must be signed by the landlord or their authorised agent.