The BHC Rent Policy sets rent for self contained accommodation up to 74.9% of market rent. Rent ranges are capped based on unit type, location and affordability for BHC tenants along with the Company’s requirements to remain viable.
Rents for shared (“boarding house”) accommodation are set so as to be broadly in line with rents for similar accommodation elsewhere within Brisbane as approved by the BHC Board.
A 1 & 2 bedroom property in Kelvin Grove are available to rent at Kelvin Grove. A property valuer has assessed the market rents as:
- 1 bedroom - $230.00 per week
- 2 bedroom - $310.00 per week
The following examples are how BHC determines the rents on these properties:
$230(AMVR) x 74.9% = $172.27
BHC would charge a rounded down rent to a tenant for this property of $172.00 per week.
$310.00(AMVR) x 74.9% = $232.19
BHC would charge a rounded down rent to a tenant for this property of $232.00 per week.
Rent Increases
Rent Increases are reset within the annually updated rent caps, up to 74.9% of market rent. Rent capping by location and unit type, subject to BHC viability and based on affordability for the Company’s tenants.Affordability Capping
Subject to BHC viability, affordability ranges will be determined by BHC and will be broadly based on the assessed average affordability ranges on an annual basis to ensure continued affordability of rents to BHC tenants and potential tenants.Rental Bonds
The Company adheres to the Residential Tenancies Act 1994 by charging four weeks’ rent as the rental bond, as security against the tenant breaching the terms of the tenancy agreement. The level of bond for existing tenants is adjusted in line with rent increases, which will occur on the 1st July of every year.TENANT INFORMATION (click on titles for details)
3. How does BHC set its rents and bonds?
