About Paying Rent
Rent is the regular amount of money a tenant pays to the landlord for leasing their property. The residential tenancy agreement details the rent amount and when it is due.
The weekly amount of rent is usually quoted in advertisements and paid fortnightly from the date of signing the tenancy agreement. Make sure you check what is applicable in your country and state.
Paying rent is important and where the most issues arise.
Keeping Records And Receipts
Keeping a record in the form of receipts of all rent payments is crucial for tenants and landlords. This is evidence if a dispute over rental payments arises at a later date. If you pay rent using bank transfer, then you have a good payment record and what it is for. But still get receipts.
Where you do not have a tenancy or flatmate agreement and pay rent in cash or by cheque, make sure you get a receipts for every single payment you make. The details that should be on a receipt are as follows:
- Payment date.
- Dates for the time period the payment covers (for example, payment for rent period 01/01/2020 – 15/01/2020).
- Name of the person paying the rent.
- Name of the person receiving the rent.
- The amount paid.
- Address of the property.
Rental Rate Changes
The landlord can increase the rent rate under the terms of a tenancy agreement. In fixed term tenancies, the agreement usually allows for a rent increase. Depending on the country or state you live in, the landlord must give a tenant 60 days notice of a rent increase.
The landlord can decrease the rent at any time in mutual agreement with the tenant.
An agreement between a landlord and tenant can use the words ‘free of all deductions’ or ‘without deductions’ in relation to rent payments. This means the tenant cannot withhold part or all of a rent payment because the landlord owes a debt to the tenant. An example is where a tenant pays for repairs and the landlord has to repay them. In normal circumstances the tenant can offset the amount owed by deducting it from the rent. You cannot do this when an agreement contains the words ‘free of all deductions’ or ‘without deductions’.
The information on this page is only a brief summary of the laws and regulations affecting share accommodation and paying rent. They are not comprehensive and it may be different in the country you live in. This information is a guide only and you should seek independent legal advice or consult the relevant laws in your country. We do not accept any liability that may arise from the use of this information.