Navigating rent increases just became easier for Canberrans following the launch of an online rent increase calculator. The free, user-friendly tool is designed to empower tenants and landlords alike in making sure rent increases are fair and legal.
Attorney-General Shane Rattenbury said the initiative was part of a broader suite of measures aimed at easing the burden of rising living costs and promoting a fair, transparent rental market.
"The ACT is the only jurisdiction in Australia to protect tenants by putting a specific limit on rent increases. The ACT uses a formula based on the consumer price index that defines when a rent increase is excessive, but we know that working out the permissible increase can be complicated for both landlords and tenants," said the Attorney-General.
"We've listened to Canberrans' concerns about the complexity of rent increase calculations, and we've taken action. This new calculator is a direct response to community feedback, designed to make renting in the Territory more straightforward and equitable.
"With the cost of living on everyone's minds, this rent increase calculator empowers renters to confidently advocate for their rights and budget effectively. At the same time, it helps landlords ensure their rent increases are fair and comply with the law."
This calculator allows users to determine the maximum permissible rent increase based on their specific circumstances. Canberrans can input their current rent, proposed rent and relevant dates to receive advice. The tool is part of a suite of ACT Government initiatives designed to support renters and occupants, including:
- Rent relief fund: Offering grants of up to $2,500 to help renters and occupants on low incomes who are facing rent stress or financial hardship.
- Minimum standards consultation: A public consultation, open until 2 September 2024, to establish minimum standards for rental properties and occupancy law reforms.
These measures collectively demonstrate the ACT Government's commitment to a fair and sustainable rental market that protects the rights and well-being of both tenants and landlords.
The rent increase calculator can be accessed here.
