From 25th March 2020 for a period of 6 months, the government has imposed a rent freeze meaning that you are unable to increase the rent charged to an existing tenant. This is legislated and fines of up to $6,500 can be imposed for breaching this.
For clients who own rental properties, please make sure that you keep this in mind as rents cannot be increased until the end of September.
Farming clients with employees in accommodation on the farm are also impacted by this legislation. Please be mindful of these restrictions when reviewing contracts and pay rises as you head into the new dairy season.
If in doubt, please contact your client manager to discuss.