Fair Rent

Fair rent is the amount a landlord can charge a tenant for a property, determined by considering factors such as the property's condition, location, and market rates. It aims to balance the landlord’s need to earn a fair return with the tenant’s ability to afford housing. Regulations or rent control laws may set limits on how much rent can increase annually, ensuring that rent remains reasonable and averts excessive pricing. Essentially, fair rent reflects what the property is worth in the current market, promoting equitable and sustainable rental agreements for both parties.