sec.69BRestrictions on increasing site rent under site agreement

### sec.69B Restrictions on increasing site rent under site agreement The park owner must not work out an increase in the site rent using more than 1 basis at one time. Despite any basis stated in the site agreement for increasing the site rent, the park owner must not increase the site rent by more than the greater of the following percentages— the CPI increase; 3.5%. Maximum penalty—100 penalty units. A site rent increase that is greater than the increase permitted under subsection (2) is of no effect to the extent it exceeds the permitted increase. If the site rent has been increased under this division, the park owner must not increase the site rent under this division on any basis provided for in the site agreement within 1 year (the site rent year ) after the day the site rent was last increased under this division. See also section 182 . For subsection (4) , site rent is taken to be increased on the first day the site rent is payable at an increased rate. To remove any doubt, it is declared that subsection (4) applies in relation to the site agreement for the site rent year even if the home owner became a party to the agreement in that year. In this section— CPI increase means the percentage increase in the CPI between— the last quarter, ending before the relevant day, for which the CPI is published; and the corresponding quarter of the previous year. relevant day means the latest day on which a general increase notice may be given under section 69E for the next general increase day. s 69B ins 2017 No. 42 s 33 amd 2024 No. 28 s 15 (sec.69B-ssec.1) The park owner must not work out an increase in the site rent using more than 1 basis at one time. (sec.69B-ssec.2) Despite any basis stated in the site agreement for increasing the site rent, the park owner must not increase the site rent by more than the greater of the following percentages— the CPI increase; 3.5%. Maximum penalty—100 penalty units. (sec.69B-ssec.3) A site rent increase that is greater than the increase permitted under subsection (2) is of no effect to the extent it exceeds the permitted increase. (sec.69B-ssec.4) If the site rent has been increased under this division, the park owner must not increase the site rent under this division on any basis provided for in the site agreement within 1 year (the site rent year ) after the day the site rent was last increased under this division. See also section 182 . (sec.69B-ssec.5) For subsection (4) , site rent is taken to be increased on the first day the site rent is payable at an increased rate. (sec.69B-ssec.6) To remove any doubt, it is declared that subsection (4) applies in relation to the site agreement for the site rent year even if the home owner became a party to the agreement in that year. (sec.69B-ssec.7) In this section— CPI increase means the percentage increase in the CPI between— the last quarter, ending before the relevant day, for which the CPI is published; and the corresponding quarter of the previous year. relevant day means the latest day on which a general increase notice may be given under section 69E for the next general increase day. - (a) the CPI increase; - (b) 3.5%. - (a) the last quarter, ending before the relevant day, for which the CPI is published; and - (b) the corresponding quarter of the previous year.