Submitted on Thursday 4th August 2011
Published on Tuesday 16th August 2011
Current status: Closed
Closed: Thursday 16th August 2012
2% maximum annual rent increase for residential and business properties
Rent for businesses and residential property is excessive at present. A cap of 2% is required on an annual rent increase. The owner of the property will need to justify any rent increase with improvements to the propertyto the tenant in a years period. Change of tenants will leave the rent unchanged. If insignificant improvements have been made to the property the rent remains unchanged. No cap on rent decrease.
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