Facing a potential rent rise? We have five budget boosters to help you get prepared.

16 Mar 2023

It seems like everything is just going up and up! Interest rates are increasing mortgage repayments and there's always a flow on affect, like rent rises! 

Cost of living pressures, groceries, petrol and utilities all going through the roof as well as the 0.7 per cent vacancy rate, meaning less properties are available in the market to rent. All this takes a toll and adds to stress levels.

Firstly, understand your rights  -  if you have signed a fixed-term tenancy agreement, the rent can only be increased if the written agreement specifies how much the rent increase will be or the method of calculating the rent increase is shown (eg by a percentage). Only if the rent is able to be increased, can it take effect no sooner than six months after you have started your tenancy. You are entitled to 60 days’ notice from the lessor if this is the case.

So, what can you do to save money in preparation for a rent rise? Here are our five budget boosting ideas:

Don’t go it alone – get a house mate. Sub-letting isn't allowed in Western Australia; however, the head-tenant must have permission from their lessor/agent, which can be either written into their tenancy agreement or by separate written consent. There can be cons, like sacrificing space, privacy and getting used to individual habits, but the pros definitely outweigh the cons, especially when you can share your living costs including rent payments.


How good are your negotiating skills? Getting the best rates on private health, car and contents insurance, mobile and internet packages, gym memberships, subscription services can be as simple as using simple online comparison tools. It definitely pays to shop around. Reducing your monthly expenses will give you more to put away for that rainy day or potential rent increase.5


Dreaming of a holiday? Maybe skip the ski resort in Paris this time around and create an adventure locally. Our tourism industry is screaming for everyone to holiday at home and travel to parts of Australia that were unattainable during Covid. Make the most of flight and hotel deals, booking early and using your store of frequent flyer points.


One man’s trash is another man’s treasure. It may be an old-fashioned term, but is still relevant today. If you have some household or personal items of value that you no longer need or want, you might want to sell them online. This way, you can boost your cashflow quickly and have it ready.

Just looking for a cheaper alternative may not be the answer. Did we mention the current vacancy rate is 0.7%? If you’re considering moving when your lease is up to avoid a rent increase, just weigh up your options. With the lack of rental stock bringing increased demand, do you want to join the queue again? Talk to your agent or landlord and see if there is a way of extending your current lease with a minimal increase first, use those same negotiating skills you used to get a cheaper rate on your household bills.

We have rentals to suit all budgets – check them out here. If you have any questions, contact one of our friendly Property Management Team.

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