So this email just shook my world out of nowhere and is really making me mad about the whole situation.
My fixed term contract ends at 19 July 2021, which I thought would allow me to feel safe and not to worry about rent increases or whatever for a while. We agreed on a fair market price that we were both happy with. So today, 17 May 2021, I got an email from a landlord saying they:
"can't sustain the initially agreed weekly rental price and we will have to return it to the owner and vacate the place unless you agree to one of the two options:"
- You can continue rent the place with the same fixed term contract but with a 60% rental price increase, starting from next week
- If you don't agree to the weekly rental price increase, unfortunately you will have to vacate the property as we need to find new tenants.
"Please let us know your thoughts and consider this as official 2 weeks notice to vacate the premises if you decide for option 2. (last day will fall 28.05.2021)"
I looked into my contract and there is a section that reads:
17.3 LANDLORD reserves the right to give the tenant a minimum of 14 day notice to vacate the property with no early termination charges.
Are there any NSW laws/help/support that can cover me or am I stuffed because I signed a contract and gave my rights away?
Thanks for reading…