Hi All,
I'm hoping someone can help me out with a bit of advice.
I own a rental property that has until very recently been let to a family on a long term lease. I registered with the then PRTB and since the registration date have not got in touch with the RTB to advise of any rental increases, didn't know I had to. Obviously rent went up over the years.
Now with this whole 'rent pressure zone' issue I am facing a problem. The new tenant is paying a lot more than when last I registered a property with the RTB. Will I face issues if I register the new tenant at the new rental amount? As in will the RTB come back to say 'you were letting this property at 1000 p.m, its now 1400 per month, you can only increase by 4%....'
Regards,
DM