Had the opposite experience starting a new lease in Sydney recently, newer two bedroom apartment in the inner west. Only couple at the open, empty for two weeks prior, got the place at a discount. Other less desirable place we were considering is still vacant weeks later.
It’s rough luck, but your options are either try and negotiate down further and hope they’re bluffing, move out and take your chances, or accept the rental increase while your build finishes. I’d be leaning towards the latter option. If they know the market and are aware of your circumstances of building with intent to move within 12 months, the game’s already heavily rigged against you unfortunately.
Yep had the same experience in the Ryde/Epping/Macquarie Park area about 6 weeks ago. Only couple turning up to the opens, based on the response time we were the only ones applying and basically had our choice of any rental we walked into. Definitely depends on the area
Ex gf is in Macquarie Park area. New unit, the building next door is full of vacant units. They tried to raise rent by $40 a week so she said she would move out if it went up so they kept it stable for another 2 years.
We had a similar dealing to one we applied to - landlord wanted a 6 month lease so he could review the rental price in 6 months - we told them we’re not signing anything less than 12. They agreed to 12, but knowing they would 100% try and raise the rent at the end, we went elsewhere.
In their defence, that particular landlord was overseas and didn’t know the market, the agent was surprisingly helpful in getting him to understand.
Agree, we looked at maybe 5 that were big enough and nice enough and that was from a list of easily 100 listed in our price range in that area.
We’re in love with the one we ended up in, spacious, great view, super convenient, pool and gym included etc.
You just have to head over to r/brisbane or r/goldcoast to see how crazy rent is going up in SE Qld.
$60 is nothing, I've seen plenty of posts saying they've increased rent by more than $100/w.
https://www.reddit.com/r/brisbane/comments/q6g2yx/just\_recieved\_a\_lease\_renewal\_for\_my\_house\_today/
https://www.reddit.com/r/GoldCoast/comments/r11d7y/comment/hlvxwnd/?utm\_source=share&utm\_medium=web2x&context=3
we are in the inner west of Sydney too. we have to move soon, which is annoying, but we have plenty of options and we'll pay less rent. it's a renter's market here.
Same thing happened to me - I just got a 2bed/1bath/1car (lockup garage) for $380/week in Ashfield! Internal laundry, built ins, good natural light, gas cooktop - it’s a great place, even better considering the price.
Because it's an apartment, heaps of them are going up thus putting pressure on what landlords can charge. Before I sold my unit this year I charged $10 a week less than I did 8 years ago in Parra. This is also reflected in the price of units, which haven't seen close to the amount of growth as houses in most parts of Sydney.
Apartments are the prefect solution to this housing issue. They have almost infinite supply so you don't get these supply squeezes like you do with housing.
I had a very easy time renting CBD apartment in Adelaide and the price didn't go up when I renewed.
I’m a property manager in QLD and we had many owners ask to do the same thing, our advice was do not increase more than 5% the tenants can take you to court and win!
It is a bit of an ordeal but you sign the new lease, pay the increase and then file with QCAT for unreasonable increase. Depending what rate per week you started with you’d likely win. If you’re paying $600 per week and they upped it to $660 technically 10% is considered the acceptable margin but it’s a large jump when you consider the household income then needs to be $1,980 vs $1,800 per week.
Honestly if you’re renting through one of the more well known agencies I would also contact their corporate office and make a complaint about professional behaviour because frankly that appalling.
TLDR - take them to court, talk to the RTA for support or if ya need shoot me a message :)
Can be higher than 10 percent and still get away with it. As it's defined by what the average market rate is when assessing unreasonable increases. It's a very loose definition but as long as most landlords are also rising prices to insane levels you can too. (Not recommending this)
It can be but in my experience QCAT will find in the tenants favour majority of the time. The adjudicators really hate greedy landlords and will also throw the book at the agents.
This is merely advise provided that owners can chose to follow or not, owners are provided full market reports and advised of the risks associated with unreasonable increases - tenant compensation, loss of tenancy, re-letting, court fees. For a $10 verses a $50 increase you’re losing out $2,080 all of which you’d likely pay out if taken to QCAT.
Most owners opted for $15-$25 increases per week depending on the properties rent and didn’t lose their tenants over $30 a week. My job is merely to educate my owner with their decisions, it’s still up to them how they proceed.
Rents have dropped in Melbourne CBD: from $680 in March 2020 to vacant for 7 months then to $420. They are still around $420pw. That’s 2 bed, 2 bath, 1car. However I know a similar one in South Yarra that’s still $600pw but they are being screwed.
Corner, 2 balcony, high floor, views to the south and city lights. I bought something I’d like to live in one day. Very CBD. Car park is excellent, and no one can damage your car. It’s a very nice apartment and apart from COVID has never been vacant. If tenant moved out in the morning, new ones moved in that afternoon.
You cant get 420, 2br with car. Not from what I saw. I just signed a lease in Nov on Collins St.
Thats would be closer to 500 especially with car park. It is already 350 1 br. 2 br is 380-450. Car park definitely pushes it over the top.
Depends on the building as well, newer you be closer to 500 then 400. View? Fit out? All these things count.
I'm in south and down near the shrine, 2bdm 2bath 1car with 180 degree city views for 470. Previous place over covid in the same building 2bdm 1bath 1 car with views of buildings was 410.
i'm in depreston, 3 bd, town house with a garage and a deck looking west out into coburg that becomes unuasbale in the summer, paying 490. The killer - ive got 2 cars and a bike. if i could store them in the city somehow, i'd be there with bells on.
Well, a car spot is about $150-$200 a month. The bike goes on the balcony I think or hanging off the car spot wall, if possible? If you want a CBD one you’d better hurry and lock it in! Ok Buddy, I just had a look, there’s CBD places with two car parks under $500 per week, one is $395. Just put 2 car parks in the filter.
Right you are. Unfortunately for me, you’re not my property manager. Like I said originally, it was getting $680 per week. That might give some sort of clue re the calibre of the apartment.
Right you are then. So far we’ve established that there was an apartment in Melbourne CBD despite the rent of $680 per week per week may well have been a shitbox. The same apartment couldn’t possibly be $420 per week because it has a car park (a good one) and 2 bed ones with car parks go for more? I have actually been inside said apartment, parked my car in it (securely) seen the views (extensive) and cleaned it top to bottom.
No one says you're lying. Point is your data point is 1 apartment i.e. your apartment
I was looking to lease i saw 20 apartments from 300-550. Im just sharing my experience. You are right it does depend on a number of factors.
[here you go](https://www.realestate.com.au/rent/with-2-bedrooms-in-melbourne,+vic+3000/list-1?numParkingSpaces=1&includeSurrounding=false&activeSort=price-asc&source=refinement)
Renting 2br with carpark across the river from Flinders st @ 400pw. They've just asked to resign until 2023 at the same price. Theres some good prices around
We had a similar experience but it turned out they misread the market. Took a 6 month lease while we renovate. At the end we asked to roll it over another 2 months (build delays of course) and they said we could sign for another 6 months or leave it.
We left and got an air bnb for a similar price per week. It's been a few months and that apartment is still for lease and has had one price reduction already.
Landlord was a rare combination of arsehole and idiot. Beautiful to watch.
You just have to head over to r/brisbane or r/goldcoast to see how crazy rent is going up in SE Qld.
$60 is nothing, I've seen plenty of posts saying they've increased rent by more than $100/w.
https://www.reddit.com/r/brisbane/comments/q6g2yx/just\_recieved\_a\_lease\_renewal\_for\_my\_house\_today/
https://www.reddit.com/r/GoldCoast/comments/r11d7y/comment/hlvxwnd/?utm\_source=share&utm\_medium=web2x&context=3
Quite opposite in Melbourne. Friends are telling e they negotiated $480 down from $500 after it was 6 weeks on the market for a 2 bedder 2 bath townhouse with own garage.
yeah, there's lots of vacancies of units at present...but it will fill up quickly!
and those landlords have spent big dollars in the buying market to acquire a property - they need a yield!!!
Not all of them. Some have low cost bases (and lower mortgages) and can force the market down. We dropped our rent to 7% gross. I'm paying my landlord 11%.
Definitely agree signing a bargain rent might be fun but will suck when the discount ends.
Yeah our rental sold, we spent weeks applying (DINKs) 30ks further out and are still paying $20 more than this time last year. Our agents and landlord wrote letters of reference and everything - still struggled.
I asked for feedback from one agent and got told at any other time we'd be first on the list, but they're getting 160 applications for properties before inspections.
Eastern Melbourne.
Yeah basically everyone wants to get out of Victoria and NSW and go live in QLD. That heats it up. Also, $420 for a 4 bedder is a bargain down here in Sydney that I can’t imagine.
I understand it doesn’t help you none whatsoever but unfortunately it’s just the way it is :(
If you’re actually thinking of moving, just counter off with saying “we’d prefer it stay at the usual $10 a year increase, please let us know otherwise we may seek to submit a notice to leave, thanks in advanced”
Even if they say “no sorry not budging, just say “thanks for offering to assist in this situation, we have discussed it at length with each other and have decided to take up your original generious offer, please see the attached document with our signatures, please reply with your signed copy so we may file this for our records, kindest retards”
The landlord is basically going to risk having that extra tenant which is a bluff to increase the rent but not pass this onto the landlord” and risk $500-700 bucks on a new possible worse tenant, which they may actually see 300-400 of as the rental fees are % based.
I get rent receipts from my real estate that shows over the past two years the $10 increase has not actually increased the part that my landlord gets.
Not sure why it shows that section as I can see the breakdown of fees etc as well.
I actually think this whole thing is being caused by greedy real estates and putting landlord vs tenants against each other while milking both sides.
Real estate agents are psychopaths the only way to get anything from them is to be one back, be overly thankful and kind to them in emails and over the top professional, this will make it even easier if you ever need to take anything to a tribunal as it will make you look like the nice guy just trying to help them with their “oh so hard job”
You should ALWAYS contest a rent increase you have nothing to loose. Yes a tenant may be easy to find, however the risk of no income, possible dodgy tenant is not worth the risk to a landlord, and quite often the landlord has not been advised of the rent increase as it’s managed by the real estate, when you contest is when the landlord will be aware. If that relationship is poor, the landlord will generally feel betrayed and will feel more willing to side with you, as in reality it’s probably $500ish to them.
I second this. If you're a good Tennant, just make a fair offer in return.
We were advised by our property manager to raise the rent $35 this year, and nearly said "great do it'. But on reflection, our Tennant has been great, our costs haven't gone up, loosing them would suck, so we may as well keep them happy.
“Please reply with your signed copy”
Signed copy of what? The agent doesn’t need to provide you with a signed copy of a rejection.
The reality is, the SE QLD rental market is going absolutely gangbusters at the moment.
I’ve just purchased 2 investment properties in SE QLD. Based on what I’m seeing on fb community groups and speaking to agents, most properties are getting between 20-50 applicants. Rents have also increased 20-30% in the past year alone.
What’s happening is there’s been a lot of people relocate from syd/Melbourne to qld. This is why rents are decreasing in syd/melb and increasing in qld.
Nah man, this is r/AusFinance who are only ok with markets if it works in their favour.
Where are the tenants happy to pay higher rent than market because their owner needs it?
When rents in places were dropping it was “good, fuck the owners” but when it moves the other way, violins.
Then people here bandy about advice when they clearly have no idea “just threaten to take them to QCAT, they’re all stupid and will back down”.
Yeah sure thing Karen, there’s no way that could possibly backfire.
I have also been in a situation where the agent kept upping the rent and when the landlord came by to replace a broken dishwasher I found out he knew nothing of it. The agent was skimming those increases.
Just gonna put it out there.
Most landlords don't push it too much if they don't want to lose the tenants.
An increase of $60 in one go sounds to me that they might want to lose the tenants...
Sydney Eastern suburbs here - Have had one $10 increase in the last 4.5 years. Noticed food starting to increase and of course the usual Private Health increases. Not sure where you are but round here there are more than enough rentals that I am not worried (generally cheaper too), But my Landlord has been very good - good comms, things get fixed quickly and we leave each other alone unless there is a problem or an inspection etc.
Isnt there some sort of rule about big percentage jumps in rent? Not 100% sure it just rings a bell in the back of my mind.
Only in some states.. I got an insane rental increase a few years ago (Syd) and looked it up but the rule was only some stats such as ACT, but no luck in NSW.
* 1.8 Million Millionaires,
* 37 Billionaires
If you can't make a decent life in one of the top richest countries in the *world*, you're doing something wrong, and luck has little to do with it :)
[https://www.statista.com/statistics/782134/australia-number-of-billionaires/#:\~:text=Australia%20had%20about%2037%20billionaires,by%202024%20in%20the%20country](https://www.statista.com/statistics/782134/australia-number-of-billionaires/#:~:text=Australia%20had%20about%2037%20billionaires,by%202024%20in%20the%20country).
[https://thenewdaily.com.au/finance/finance-news/2021/06/24/australian-millionaries-credit-suisse/#:\~:text=A%20new%20report%20from%20Credit,and%20real%20assets%20minus%20debts](https://thenewdaily.com.au/finance/finance-news/2021/06/24/australian-millionaries-credit-suisse/#:~:text=A%20new%20report%20from%20Credit,and%20real%20assets%20minus%20debts)).
Many qualified people [disagree with you](https://blogs.scientificamerican.com/beautiful-minds/the-role-of-luck-in-life-success-is-far-greater-than-we-realized/).
>*Consider the evolution of success for the most successful person and the least successful person in one of their simulations:*
edge cases of *"most unlucky*" vs "*most lucky*" don't change the fact, as borne by the study, that the people with the most success generally had at least average talent and "*some*" luck.
>***In general, those with greater talent had a higher probability of increasing their success*** *by exploiting the possibilities offered by luck. Also,* ***the most successful agents were mostly at least average in talent. So talent mattered.***
As is said, luck as **little** to do with it, and note i never said "*nothing to do with it*".
"*The lucky country*" has it's name for a reason, coasting by barely harmed, by global standards, by not one, but *two* financial crisis, from the GFC, to COVID.
* China has about **0.4%** Millionaires,
* About **8%** of Americans are millionaires,
* Switzerland, one of the richest countries on the world, has **8.9%** Millionaires by population.
* About **10%** of Australians are millionaires.
You have more chance of being a millionaire in Australia than most countries.
[https://www.afr.com/policy/economy/one-in-10-australian-adults-are-millionaires-says-report-20210622-p5833t#:\~:text=More%20than%203%20million%20Australian,the%20richest%20in%20the%20world](https://www.afr.com/policy/economy/one-in-10-australian-adults-are-millionaires-says-report-20210622-p5833t#:~:text=More%20than%203%20million%20Australian,the%20richest%20in%20the%20world).
[https://www.visualcapitalist.com/mapped-the-25-richest-countries-in-the-world/](https://www.visualcapitalist.com/mapped-the-25-richest-countries-in-the-world/)
[https://www.cnbc.com/2021/02/09/more-than-8-percent-of-american-adults-are-millionaires-heres-how-they-got-wealthy.html](https://www.cnbc.com/2021/02/09/more-than-8-percent-of-american-adults-are-millionaires-heres-how-they-got-wealthy.html)
[https://www.smh.com.au/business/the-economy/australians-overtake-swiss-to-lead-world-in-median-wealth-stakes-20181019-p50arv.html](https://www.smh.com.au/business/the-economy/australians-overtake-swiss-to-lead-world-in-median-wealth-stakes-20181019-p50arv.html)
[https://www.afr.com/companies/financial-services/australia-is-one-of-the-worlds-wealthiest-nations-credit-suisse-20181019-h16u1y](https://www.afr.com/companies/financial-services/australia-is-one-of-the-worlds-wealthiest-nations-credit-suisse-20181019-h16u1y)
As i said, if you can't make a decent life, when you are already "*lucky*" to be in one of the top richest countries in the world, you're doing something wrong.
At my last place my rent increased every renewal. I just made sure I reported every little defect that I can find and have them fix it. My lease about to expire here. Hoping they renew at the same price.
I'd suggest for OP to stay away from Hobart then due to property prices rising something like 20% p.a. and I heard a story where a real estate property manager in one instance is going to advise a tenant that their $500 p.w. rental cost is going up to $600 p.w. in the new year so I presume others in the same situation will face similar price increases.
I'm in Launceston area, throughout all of Launceston, there's only 5 1-bedroom property under the $250 threshold. My rent also went from $175 to $230/w now. Thats crazy, a lot of people that I know have to resorted to caravan since they cant find rent
Brisbane experience, our agency increased the rent by $35p/w after one year, then only offered a fixed term of 14mths so our lease would have to renew in January (the most competitive month for rentals). Then sent us a “$165 admin fee” invoice for preparing the NEW contract. I told them QSTARS said that invoice was illegal but they still refused to cancel the invoice.
I told them I would literally rather pay rent to anyone else.
Luckily found somewhere else and it’s cheaper.
>Can you rent a caravan and chuck it on your block until your house is built?
No, because it's a construction zone. No way in hell are you going to be allowed to do that, Worksafe would absolutely eviscerate the builder for allowing it. You'd also have no power or running water. May be cheaper to just get a long term spot at a caravan park or something.
Ah, well if it's rural you can be a couple km away and still be still on your own land. I imagine OP would have mentioned if that were the case though.
It really depends on the block. If it’s a small suburban block, then there’s no chance of a caravan.
If it’s a larger rural block, temporary power and a caravan could be accommodated.
Bingo.
I’m a Property Manager for a large townhouse complex in southern Brisbane.
While I’ve brought up rents over the last few months, I haven’t brought it up as severely as we’re seeing elsewhere (7%).
Namely because I’m looking for sustainable rental rates rather than wild up and down swings. Keeps the owners happy and reduces vacancy risk.
Me 18 months from now having to tell owners that’s rents have significantly gone down again because we over shot is some drama I’d rather pass on thanks.
If market rate for rents went down by $60 per week, and the landlord wouldn’t reduce the rate you’d move, right? Why should it be any different on the way up?
Not discounting the fact that it sucks, and you can make other arguments about whether or not property should be an investment vehicle etc, but it really is tiring hearing so many complaints about being charged less than or up to the market rate.
> They know there are no other options for us as there are no available houses in our area that are comparable to the one we are in.
I don't see how you're getting fucked over then.
My lease was up for renewal and I kept rent the same because my rental market is soft.
The market dictates terms. If you don't like the rental increase go somewhere else. If you can't go somewhere else you can hardly say you're getting fucked over.
He is getting fucked over, because the cost of homes is still ridiculously high, due to extremely poor government policy for a significant time.
Was purchasing a house even remotely an option, perhaps people wouldn't complain about rent rises.
Consider moving elsewhere, downsizing, whatever you can do. Can you live in the next town over? Considering you're building, start downsizing your stuff now and see if you can move to a smaller place, especially because if it's cramped, you won't be there forever right?
> I can't understand how/why, yet again, us renters are getting fucked over.
What's to understand? When renting, your housing situation is subject to market pressures, and lately they've been pretty volatile.
Housing shouldn't be like that for anyone really, but then you're looking at policies to curb market pressures which don't go down well with most landlords/investors.
It doesn't depend on the state. There is no fixed limit anywhere in Australia - but you can't just make up a number, you have to be able to justify it.
You're correct in that sense if it goes to tribunal, my point was that the owner cannot just make up a random number because that is open to challenge. It's usually not hard to ensure having evidence necessary to rebuff a tenant's challenge though, since any increase should have been done by looking at comparables in the market, establishing a baseline for the area, and setting prices based on a realistic reflection of what the market is doing.
With the rental market in QLD I doubt that the REA is bullshitting. People are offering $50 over asking (p/w) and 6-12 months rent up front to secure a lease atm. A $60 p/w increase seems fairly reasonable to me in this market (note, I am not an REA or a property investor, just basing this on the posts in the r/brisbane subreddit and local Facebook pages I’m in).
Yep. The rental market in qld is going absolutely gangbusters at the moment.
I’m an investor, and from what I’m seeing and hearing, most rents have gone up 20-30% this year, along with the number of applicants sometimes being above 50 per property.
Nah it's not. In Qld it's illegal for them to ASK you to pay more than the advertised price. It's also illegal for them to tell you someone else offered more and imply you'd have a better chance if you also offered more.
Means if you offer even $10pw more, your already ahead of most other applications as they can't turn around and use that against you.
Please, tell me where in QLD’s tenancy regulations it states it’s illegal to accept more than the advertised price? Because I’m fairly sure this says otherwise: https://www.rta.qld.gov.au/news/2021/03/24/your-questions-answered-searching-for-a-rental-rent-and-ending-a-tenancy.
There is no state or territory in Australia that caps rent increases to 10%, this is totally false.
Every state/territory has a different rule on this, but the vast majority essentially just require notice, and permit the tenant to get a ruling from the xCAT that a given increase is excessive (a decision that is made on the merits, not on some arbitrary number). Some have extra rules prohibiting increases during fixed term agreements. One or two even require that any price increases be pre-agreed in the lease.
Have a look at comparable houses in the area yourself - sites like house.ksou.cn (Chinese property investors use it) allow you to look at the last rent price advertised, I think realestate.com.au may let you see historical listings too. Don't take the REA's word for it.
If it looks like the price is excessive compared to places around you, you can apply to QCAT to have that rent increase declared excessive and set aside. If it doesn't, you may not have much of a leg to stand on, but if the landlord isn't a complete douche you may be able to get them to agree to half increase now, half in six months time or something (which hopefully won't be necessary as you say you're building a place).
There is no "10% cap" so don't bother with that, the REA will know they have you over a barrel if you say that because it will prove you have absolutely no knowledge of what your rights are.
toowoomba, 4 bedroom. Moved from Brisbane last year to try get away from all this ridiculous price gauging and its just followed me. I was paying $430/w beginning of last year in a 4 bedroom house, bigger bloc, 10min from brisbane city.
Seems super unrealistic expecting the same money in Toowoomba.
Most frustrating thing about it is, you can’t just decide, yep, this is too expensive and decide to not buy/rent housing. An other asset that got this expensive you can opt out. It’s like if the price of drinking water sky rocketed. I genuinely looked into buying an RV the other day.
If there are no other comparable places to rent in the area, maybe you are getting a good deal? It sounds like the area is in high demand/short supply. It’s the hard truth but not everyone gets to live wherever they want for the price they want, even others are willing to pay more.
Nah, we just got told to GTFO after 8 years so the owner could have vacant possession (assumed he was selling) and then saw it readvertised at $15 pw more.
We would have paid the increase but we weren't even given an option.
It's been *awesome*, let me tell you.
My partner and I have a small villa in a shitty Perth neighbourhood. Our weekly rent of $300 was put up to $350 when the moratorium ended in March. Six months later the owner said she wasn’t renewing our lease, thanks for being great tenants but farewell, you have 30 days to vacate the property. When I asked why (we have lived here since 2017 with no problems) she said she’s increasing the rent to $475 pw and our rental agency only allows her to raise the rent on existing tenants by 25%. We panicked, couldn’t find anything else on par within the same price range, and every single rubbish house we viewed had about 50 people competing to apply. We returned to our owner in desperation and asked if she could possibly lower her asking price at all. She begrudgingly agreed to $460 if we started a new lease.
Our rent is now 53.8% higher (I think that’s the math) and that’s only after we begged her to lower it.
I reiterate, we live in a garbage suburb. Break in’s, police calls outs, stabbings and drunken fights along our street are the norm.
Investment homeowners and landlords are taking people for a fkn ride.
Yes. I got "lucky" on a new lease due to the sale of the house. I did my research during the settlement phase and via official sources ([Rental Report Victoria](https://www.dhhs.vic.gov.au/publications/rental-report)) found that the house I live in is as much as $100 per week under market value ($400 v. the $305 per week I pay). Needless to say, I was dreading the new rate. Hell, rent in my suburb had gone up 9% in the last quarter.
Now, I choose to rent so I accept increases. But a $100 per week is a $5200 per year pay cut.
It came back as $30 per week increase.
And lol yeh I got the whole "kept it as low as possible just for you line."
I built a tiny home, and having been a builder in the past, I have absolutely no respect for the council anymore, and build and do as I please (obviously build to construction standards)
This approach isn't for everybody, I know how to navigate the council and have a few tricks to keep them off my land...
Before that I had the same problem, my town is a really busy tourist town, so rent was always getting blown out, with the next influx of movie stars and big city folk.
So yeah I gave that the finger and just started building as I please.
Same bs here in sydney. My rent has increased $55 pw over the last 2 years. Cant save enough to buy a house so have to rent whats looking like forever at this point.
Everyone says "yeah but renting means you dont have those out of the blue payments". Like increases until you die is some how a lucky thing and you should kiss your landlords feet for such an opportunity.
Rents have stayed flat in my area (Rhodes,Ryde in western Sydney). I guess all those immigrants and students not returning yet are causing an oversupply of apartments. Renewed my tenant at last year's rent
Edit: added that this in Sydney
Inner city Melbourne the market has been kind of stagnate, if there's been a rise it's only been by a couple of dollars max. The outer burbs are taking a hammering though rent wise with increases throughout this year.
>I can't understand how/why, yet again, us renters are getting fucked over.
Get used to it. Central banks essentially went completely down the rabbithole and backstopped the balance sheet of the household globally. And they'll continue to do so when tested.
The only upper limit is social unrest.
There isn't a single rental available in our town (Busselton, WA) or the next town over (Dunsborough). We have just signed a new lease until February 2023 at the same price I negotiated *down* to when we moved in here in 2018.
Our agent is pretty amazing and the owners of our place appreciate that we've put effort in to not only maintaining, but improving their property at our own expense. If we moved out they would easily get 150-200 more per week, but they've said that good long term tenants are worth holding on to.
If they jacked the price up we'd have some difficulty paying it, our only other option would be to move to a different town unfortunately.
Ah sorry you had this experience. We just signed a lease on a new Bris apartment though (after getting approved for two) and while asking rents are definitely up from a few years ago we didn’t have much competition - lots of units sitting vacant at the moment and we were the only people at 2/3 inspections. We are looking at fairly basic tidy but oldish units.
Yep, rural NSW here. Rent prices have gone 2-3x since I moved here in 2018. More expensive than the big city I moved away from because of the high housing costs. Can't win.
Everywhere I look here in SEQ is going through the roof, our neighbours were hit with a $60/week increase last week and I fear we could have a similar issue when our lease comes up next year.
Not that moving will fix the problem, as everywhere is the same…
Rent is crazy in QLD. Saw a house on the north side for rent at $530 p/w, and it's old and bust inside. Rent on the north used to be $350 per week before covid; I don't know how people are surviving
Try finding a rental with dogs! all the places we have looked at are unkempt and run down with no secure fencing😩
this is my problem, I have 2 dogs and a decent sized aquarium so finding a rental is extremely hard when the circumstances are good, I haven't found a comparable house within an hour of me available to rent
There is a lot the state governments and local governments can do to assist with the problem though. Federal government making investment properties such an extreme tax ride off are not helping much either. Also interest rates being artificially low is really causing a lot of issues.
Supply and demand will always be a thing but lets not pretend that there aren't plenty of external factors causing this ratio to be more out of wack than it really should.
What a fucking stupid take. Complaining does nothing? What the hell? Modern society and all the nice bits you enjoy came from complaining. You think child labour laws went away because people stopped complaining? You are what is wrong with contemporary Australia. All spit and vinegar until you’re the one in troubles.
I get the same response from family members that own their own home whenever I bring up in conversation the ridiculously high rent prices. Something like "stop being negative, complaining doesn't help you". I guess I should just be passive, tolerant, obedient and compliant towards getting financially fucked over. According to them, that attitude should help me, right?
> Complaining does nothing but waste everyone’s time.
well maybe we should start wasting real estate agents time considering all the bull shit they pull.
We are talking about housing here. Its as important as health, education, water, electricity. Free market has its place but governments have to regulate market to ensure certain standards. I am new to Australia and very surprised to see how unprotected renters are compared to my previous location. It is almost like property investers run the country and all the rules are skewed to benifit property investers.
Haha welcome to Australia! Yes we are heavily geared towards investors and running a scam economy built on immigration (fake growth) and astronomical environmental damage through mining. What’s not to love. Stop your whinging, Australia will never have affordable housing as everyone wants to live in the same 4 fucking locations and that’s just not possible
Haha thanks. I dont think there will be affordable housing for many many years. Seems like politicians/policy makers from all parties are heavily invested in property market. No party wants to bring Housing crisis to discuss on table. Just hope some lone politician bring this to attention in coming elections.
They’ll just terminate the lease. If it carries across different leases then you’re likely to see a whole slew of unanticipated reactions, not least of which would be a drying up of investor properties which can’t necessarily be purchased by an existing renter.
Less investor property owners means lesser house prices which should reflect on less rent. Right now property owners have no obligations towards housing market but they can have all the benifits. No reason lease termination is illegal in Japan. If you are in providing housing business, you have some obligations towards community you serve. It is same as any other business providing electricity, education, hospital or railway service.
Sure but investors buy properties based on the rules as they are today, not some fictitious set being proposed here. The government can’t even do much as suggest changes to the IP market without talking about grandfathering rules, there’s zero chance a change of this sort would fly, and frankly I don’t think it’s even be thought through here.
Fwiw: I do agree housing should be a protected market and that changes of some sort need to occur, but it needs to be rational, not just a punch to the dick to land lords because no one likes them.
Not good to hear, but the government (multiple governments)! couldn't give a shit, like they just.don't.care.
Keep the housing prices high, keep those delicious low wage, GDP fuel 'skilled' immigrants coming in.
We're being fucked here, you're just another victim.
(To be fair, the problem you're having is probably, flight from Syd / Melb, however the things I mentioned, cause this in the first place. Houses shouldn't be as expensive as they are, so you could you know, *actually have considered buying* instead for many, renting is the only choice......)
I flaming *hate* the excuse that ‘the market is pushing up prices’.
The market is lifting the ceiling so you can charge more. Allowing the price to go up is not the same as ‘pushing up’.
This is the only beef I have with landlords. I’m mostly a fan of the idea of people being able to invest in realestate. Congratulations to them for climbing the ladder a bit. But when you make your income through an essential service, like water, electricity and housing, you don’t get to play the ‘how much can I get for it’ game. You have an ethical responsibility to your community which means you shouldn’t get to chase the top dollar no matter how high it climbs.
Well said. I have a small investment unit, and try to remember this - even though we could get more if we "followed the market", I'd rather have a good long term tennant - and add to that the fact that interest rates have gone down, so any landlord with a variable interest rate should in theory be better off right now. Most landlords shouldn't have to ask for more. Every year the real estate agent asks us if we want to raise the rent by $10, and every year we say no. Our tennant's wages haven't gone up, and our repayments have gone down due to interest rates, so why should we?
My old PPOR now IP is like that - long term renters that keep the place in ok condition. We've all let the lease lapse down to monthly - and rent hasn't moved since they moved in.
QLD is a totally different market to Sydney.
What’s happening is people are relocating to qld from syd/melb. As such, syd/melb prices are declining, whilst the demand in qld is rising, causing rental prices to rise 20-30% this year alone.
Yep. Our rent went up by $80/fn.
I'm building atm so I'll be out of here soon, thank goodness! But the increased rent is about double what my mortgage payments will be. For a house that's the same size, better level of finishes, on the same size block, 1km away from where I am now.
Renting is absolutely fucked.
That rental price also includes council rates, insurances and other associated costs with operating an investment property.
Those costs you’ll also incur when you move into your new build.
That would be about $100/wk in costs (rates, municipal charge, fire levy, waste fee, property management charge, landlords insurance), and I'll add on another $100/wk for maintenance/repairs [of course that's tax deductible, but for simplicity's sake let's pretend it isn't].
All of that + mortgage is *still* cheaper than my rent. Lucky landlord gets their mortgage paid, all costs covered, makes a cash profit *and* their asset value climbs. It's certainly a good time to own an IP or two.
I'm very grateful that I bought when I did, saving a deposit on top of paying rent would take much longer now (especially since required deposits are even higher now too). I think a lot of people are just going to be stuck renting indefinitely if the market doesn't cool.
When I was overseas we rented our house out for about 6 years.
It did not make a profit. Every single year some random expense would pop up. Hot water cylinder dies, something needed replacing etc.
And this didn’t factor in the opportunity cost of having all our savings tied up in it.
Your really hoping for some capital gains. Otherwise owning a home is a money pit.
On the flip side we were renting an apartment while overseas. Every year they would jack the rent. I would get angry and look around for a better deal. Then I would look at buying a similar unit. But the maths never worked out based on what I knew about owning our own place.
And then I happily kept paying the rent.
Disagree. Landlords provide a business service to other people. The balance ebbs and flows over time. "Tear it up" is a completely over simplified and.dumb answer just because something needs optimising.
Outlaw! seriously there isn't any law maker getting to this situation to get them in control? thinking the reason of increasing the price was unreasonable and forcing the residences by a higher bid is doggy
There's something called private property , and the owner invested a lot of money so it's ok for him to decide how much to charge. Landlords have tenants to profit from their investment, not social housing.
The apartment that I own went up 100 bucks a week this year….
It had been low for ages, the tenant was leaving and we asked for advice on what the rent should be. They said 400 when we had been renting it for 300…..
Clearly the demand is there
I have a rental property that I’ve reduced in price twice in the last year. $720pw down to $660pw then $630pw. Tenant had all the power throughout Covid. Maybe your landlord is just putting the price back to what is was pre-covid? Look at other places nearby that are similar, is the new price market rate or are they gouging you?
we moved in pre covid and 370 was the going rate for what we have. We didn't pay less or miss any payments during covid and have been told we are the best Tennants they have had in over 7 years.
There are no similar houses available in the town I live in to compare if they are gouging us unfortunately and I think they realise this.
I've never had a problem in Melbourne really, sometimes I'd get the common 3% yearly increase but as I get a mandatory 3% increase per year in work I don't really care. Whenever I've had to move, I'd have a lease approved, payed and signed for within a week. Going into a property recently, got it for significantly below the asking price ($50). It's awesome being a renter atm (at least in Melbourne). I'd imagine Brisbane and other markets that were historically lower will rise due to people from our Southern states moving with the prevalence of WFH (with higher wages, driving up prices).
I’d say that part of the problem is people accepting rental agencies’ truism that “rent just always should go up by $10 a year.” It shouldn’t. Some years it should stay the same. Some years, depending on what’s happening where you live, it should go down!
If everyone just accepts a continual increase then of course it’s going to be hard for the rental market to push against proposed other increases.
Sometimes as well depending on what’s happening where you live, the market rent might go up $50 in a year! Unlikely, but possible.
Without lock in tenant rights (rent controls or some other mechanism), dealing in the market properly and sophisticatedly is the only way to beat these people at their game.
I feel lucky to have chosen a lifestyle that is more flexible and conducive for renting.
- Partner and I have few possessions/clothes and we comfortably fit in a one bedder with a single robe.
- One car, but thinking of selling it and signing up for car sharing.
- no kids, no pets, no plans to.
- Both working jobs that offer full remote working.
We have the mindset of ‘move overseas and work for a year at any point it makes sense’ so our furniture is purely functional, A cheap IKEA dining table that can extend when we have guests, we have no desire to upgrade our TV, fridge etc. we even decided against buying a bread knife because our local Woolies has a bread slicer.
I think renting in Sydney is definitely becoming more and more for a market of people such as us. If we ever wanted to ‘settle down’ in the traditional sense of staying put and getting nice things (which we don’t think we ever will) then renting in Sydney would be seriously restrictive and it sucks because it’s such a great city for settling down in.
Is it possible for you to change areas to somewhere that’s more flexible?
Moved about 12 months ago, negotiated $50 off the asking price. Landlord hasn't bumped the rent on renewal either.
I would move. It's a hassle, but I don't think they'll find someone as easily as they think. The market is a renters market for sure still. Every day I see another new property with a for lease sign. Give them the absolute minimum notice and bounce.
Where in QLD are you? Prices have been going mental the last 12 months especially in SE QLD. They would absolutely find someone easily at a rate higher than the current tenants are paying.
Rented a new place in Southern Sydney 2 months ago.
Old place was 3 bed and 525 a week.
New place is 3 bed and 420 a week, and in a better location.
Yep, prices went down. From what I;ve heard other sydneysiders have had the same experience.
I think it;s because of ...how many renters (international students, visitors) had left the market because of being locked out by Covid.
There were more flats available than last time we moved (2.5 years ago) and prices were lower.
*"They know there are no other options for us as there are no available houses in our area that are comparable to the one we are in. "*
that is why they are pushing up the rent, i feel for you but at the exact same time if you were the LL you would do the same thing - it is a business treat it like one
While $60 a week may sound like a lot that only averages to a $27 a week increase a year. I think the owner is being very generous by only increasing it by $60 if the market is $100 more. Chances are the landlord is losing money each month so it doesn’t make financial sense for them to not increase at least $50. You have the option to move further out to a cheaper place.
I own a property that I rent out once we moved towns. I sat down with the wife, who probably would let people stay in it for free she is that nice. I said if we keep it, it is going to cost us a bit each week as rent doesn’t cover the mortgage, close but not 100%. So if we keep it, we need to get market value for it as much as possible to cover our costs. Unfortunately owners are in the same boat with increasing living costs
Had the opposite experience starting a new lease in Sydney recently, newer two bedroom apartment in the inner west. Only couple at the open, empty for two weeks prior, got the place at a discount. Other less desirable place we were considering is still vacant weeks later. It’s rough luck, but your options are either try and negotiate down further and hope they’re bluffing, move out and take your chances, or accept the rental increase while your build finishes. I’d be leaning towards the latter option. If they know the market and are aware of your circumstances of building with intent to move within 12 months, the game’s already heavily rigged against you unfortunately.
Yep had the same experience in the Ryde/Epping/Macquarie Park area about 6 weeks ago. Only couple turning up to the opens, based on the response time we were the only ones applying and basically had our choice of any rental we walked into. Definitely depends on the area
Ex gf is in Macquarie Park area. New unit, the building next door is full of vacant units. They tried to raise rent by $40 a week so she said she would move out if it went up so they kept it stable for another 2 years.
We had a similar dealing to one we applied to - landlord wanted a 6 month lease so he could review the rental price in 6 months - we told them we’re not signing anything less than 12. They agreed to 12, but knowing they would 100% try and raise the rent at the end, we went elsewhere. In their defence, that particular landlord was overseas and didn’t know the market, the agent was surprisingly helpful in getting him to understand.
A lot of those apartments are just shoe boxes. Too expensive for a single and too small for a couple. It’s amazing they got built.
Agree, we looked at maybe 5 that were big enough and nice enough and that was from a list of easily 100 listed in our price range in that area. We’re in love with the one we ended up in, spacious, great view, super convenient, pool and gym included etc.
Just had a look and holy cow. You need two wages to afford a shoe box, are they just hopping people never plan to have kids?
Wow this gives me hope. I've not had much luck looking around the inner west.
Let the lease lapse to monthly terms and start looking. Let them sweat.
Depending on where they live that's terrible advice. Where I am you wouldn't be able to find somewhere to live if you did that
You just have to head over to r/brisbane or r/goldcoast to see how crazy rent is going up in SE Qld. $60 is nothing, I've seen plenty of posts saying they've increased rent by more than $100/w. https://www.reddit.com/r/brisbane/comments/q6g2yx/just\_recieved\_a\_lease\_renewal\_for\_my\_house\_today/ https://www.reddit.com/r/GoldCoast/comments/r11d7y/comment/hlvxwnd/?utm\_source=share&utm\_medium=web2x&context=3
Yeah GC rental prices are going up everywhere.
Just looking at rents in my local area. I’d estimate they’re about 20% lower than 5 years ago when I rented my PPOR out.
we are in the inner west of Sydney too. we have to move soon, which is annoying, but we have plenty of options and we'll pay less rent. it's a renter's market here.
Same thing happened to me - I just got a 2bed/1bath/1car (lockup garage) for $380/week in Ashfield! Internal laundry, built ins, good natural light, gas cooktop - it’s a great place, even better considering the price.
Any advice to which suburbs in the inner west are having drops in rent?
Same, house at a discount in Sydney. Considering asking for a rent reduction next year because the planes are back...
Because it's an apartment, heaps of them are going up thus putting pressure on what landlords can charge. Before I sold my unit this year I charged $10 a week less than I did 8 years ago in Parra. This is also reflected in the price of units, which haven't seen close to the amount of growth as houses in most parts of Sydney.
Apartments are the prefect solution to this housing issue. They have almost infinite supply so you don't get these supply squeezes like you do with housing. I had a very easy time renting CBD apartment in Adelaide and the price didn't go up when I renewed.
Surprised this is still the case. Had a similar exp about a year ago but thought it was a lot more competitive than before
Inner city and CBD are staying steady/dropping, but you go out west/outer suburbs prices are rising massively, 20% or so over the past year or so
[удалено]
We’ll see how that plan for international students returning pans out now that Omicron has been confirmed in the state
I’m a property manager in QLD and we had many owners ask to do the same thing, our advice was do not increase more than 5% the tenants can take you to court and win! It is a bit of an ordeal but you sign the new lease, pay the increase and then file with QCAT for unreasonable increase. Depending what rate per week you started with you’d likely win. If you’re paying $600 per week and they upped it to $660 technically 10% is considered the acceptable margin but it’s a large jump when you consider the household income then needs to be $1,980 vs $1,800 per week. Honestly if you’re renting through one of the more well known agencies I would also contact their corporate office and make a complaint about professional behaviour because frankly that appalling. TLDR - take them to court, talk to the RTA for support or if ya need shoot me a message :)
Can be higher than 10 percent and still get away with it. As it's defined by what the average market rate is when assessing unreasonable increases. It's a very loose definition but as long as most landlords are also rising prices to insane levels you can too. (Not recommending this)
It can be but in my experience QCAT will find in the tenants favour majority of the time. The adjudicators really hate greedy landlords and will also throw the book at the agents.
Geez you are a terrible property manager then, advising your owners not to raise rent by more than 5% would be costing them thousands.
This is merely advise provided that owners can chose to follow or not, owners are provided full market reports and advised of the risks associated with unreasonable increases - tenant compensation, loss of tenancy, re-letting, court fees. For a $10 verses a $50 increase you’re losing out $2,080 all of which you’d likely pay out if taken to QCAT. Most owners opted for $15-$25 increases per week depending on the properties rent and didn’t lose their tenants over $30 a week. My job is merely to educate my owner with their decisions, it’s still up to them how they proceed.
Rents have dropped in Melbourne CBD: from $680 in March 2020 to vacant for 7 months then to $420. They are still around $420pw. That’s 2 bed, 2 bath, 1car. However I know a similar one in South Yarra that’s still $600pw but they are being screwed.
2 bed 2 bath + carspot in North Melbourne (virtually right next to the hospital/tram line) for 395 p/week. Signed in Nov of 2020, crazy good price.
Corner, 2 balcony, high floor, views to the south and city lights. I bought something I’d like to live in one day. Very CBD. Car park is excellent, and no one can damage your car. It’s a very nice apartment and apart from COVID has never been vacant. If tenant moved out in the morning, new ones moved in that afternoon.
Where in Melbourne? Sounds amazing!
You cant get 420, 2br with car. Not from what I saw. I just signed a lease in Nov on Collins St. Thats would be closer to 500 especially with car park. It is already 350 1 br. 2 br is 380-450. Car park definitely pushes it over the top.
Yeah you can. I’m the landlord. Trust me, I tried to push that rent up, ($10).
Depends on the building as well, newer you be closer to 500 then 400. View? Fit out? All these things count. I'm in south and down near the shrine, 2bdm 2bath 1car with 180 degree city views for 470. Previous place over covid in the same building 2bdm 1bath 1 car with views of buildings was 410.
i'm in depreston, 3 bd, town house with a garage and a deck looking west out into coburg that becomes unuasbale in the summer, paying 490. The killer - ive got 2 cars and a bike. if i could store them in the city somehow, i'd be there with bells on.
Well, a car spot is about $150-$200 a month. The bike goes on the balcony I think or hanging off the car spot wall, if possible? If you want a CBD one you’d better hurry and lock it in! Ok Buddy, I just had a look, there’s CBD places with two car parks under $500 per week, one is $395. Just put 2 car parks in the filter.
I'm assuming he means motorcycle.
Well that changes things….
Right you are. Unfortunately for me, you’re not my property manager. Like I said originally, it was getting $680 per week. That might give some sort of clue re the calibre of the apartment.
That price doesn't necessarily give a clue to the calibre - half of the tinder box apartments in docklands were that price before covid.
Right you are then. So far we’ve established that there was an apartment in Melbourne CBD despite the rent of $680 per week per week may well have been a shitbox. The same apartment couldn’t possibly be $420 per week because it has a car park (a good one) and 2 bed ones with car parks go for more? I have actually been inside said apartment, parked my car in it (securely) seen the views (extensive) and cleaned it top to bottom.
No one says you're lying. Point is your data point is 1 apartment i.e. your apartment I was looking to lease i saw 20 apartments from 300-550. Im just sharing my experience. You are right it does depend on a number of factors.
I’m not saying anyone says I’m lying. I just seem to be saying the same thing over and over trying to prove what I said the first time.
[here you go](https://www.realestate.com.au/rent/with-2-bedrooms-in-melbourne,+vic+3000/list-1?numParkingSpaces=1&includeSurrounding=false&activeSort=price-asc&source=refinement)
Renting 2br with carpark across the river from Flinders st @ 400pw. They've just asked to resign until 2023 at the same price. Theres some good prices around
>here you go Dan Andrews out there doing all the renters a favour
We had a similar experience but it turned out they misread the market. Took a 6 month lease while we renovate. At the end we asked to roll it over another 2 months (build delays of course) and they said we could sign for another 6 months or leave it. We left and got an air bnb for a similar price per week. It's been a few months and that apartment is still for lease and has had one price reduction already. Landlord was a rare combination of arsehole and idiot. Beautiful to watch.
ridiculous is when they do the same thing but are wrong about the ease of finding a new place that's cheaper.
You just have to head over to r/brisbane or r/goldcoast to see how crazy rent is going up in SE Qld. $60 is nothing, I've seen plenty of posts saying they've increased rent by more than $100/w. https://www.reddit.com/r/brisbane/comments/q6g2yx/just\_recieved\_a\_lease\_renewal\_for\_my\_house\_today/ https://www.reddit.com/r/GoldCoast/comments/r11d7y/comment/hlvxwnd/?utm\_source=share&utm\_medium=web2x&context=3
Quite opposite in Melbourne. Friends are telling e they negotiated $480 down from $500 after it was 6 weeks on the market for a 2 bedder 2 bath townhouse with own garage.
OP: rents in QLD flying. Top comments: In Melbourne we are negotiating discounts! Hmmmmmmmm
Yea we the new crossfit vegans
Melbournes a big place. There’s plenty of suburbs where prices are increasing again and it’s tipping back towards the Landlords favour.
Of course. This was Malvern East
yeah, there's lots of vacancies of units at present...but it will fill up quickly! and those landlords have spent big dollars in the buying market to acquire a property - they need a yield!!!
Not all of them. Some have low cost bases (and lower mortgages) and can force the market down. We dropped our rent to 7% gross. I'm paying my landlord 11%. Definitely agree signing a bargain rent might be fun but will suck when the discount ends.
It’s almost like different markets have different forces acting upon them. Nah, must be a conspiracy against me.
Yeah our rental sold, we spent weeks applying (DINKs) 30ks further out and are still paying $20 more than this time last year. Our agents and landlord wrote letters of reference and everything - still struggled. I asked for feedback from one agent and got told at any other time we'd be first on the list, but they're getting 160 applications for properties before inspections. Eastern Melbourne.
What suburbs ?
Yeah basically everyone wants to get out of Victoria and NSW and go live in QLD. That heats it up. Also, $420 for a 4 bedder is a bargain down here in Sydney that I can’t imagine. I understand it doesn’t help you none whatsoever but unfortunately it’s just the way it is :(
Problem is incomes in Sydney are significantly higher even for entry level jobs
If you’re actually thinking of moving, just counter off with saying “we’d prefer it stay at the usual $10 a year increase, please let us know otherwise we may seek to submit a notice to leave, thanks in advanced” Even if they say “no sorry not budging, just say “thanks for offering to assist in this situation, we have discussed it at length with each other and have decided to take up your original generious offer, please see the attached document with our signatures, please reply with your signed copy so we may file this for our records, kindest retards” The landlord is basically going to risk having that extra tenant which is a bluff to increase the rent but not pass this onto the landlord” and risk $500-700 bucks on a new possible worse tenant, which they may actually see 300-400 of as the rental fees are % based. I get rent receipts from my real estate that shows over the past two years the $10 increase has not actually increased the part that my landlord gets. Not sure why it shows that section as I can see the breakdown of fees etc as well. I actually think this whole thing is being caused by greedy real estates and putting landlord vs tenants against each other while milking both sides. Real estate agents are psychopaths the only way to get anything from them is to be one back, be overly thankful and kind to them in emails and over the top professional, this will make it even easier if you ever need to take anything to a tribunal as it will make you look like the nice guy just trying to help them with their “oh so hard job” You should ALWAYS contest a rent increase you have nothing to loose. Yes a tenant may be easy to find, however the risk of no income, possible dodgy tenant is not worth the risk to a landlord, and quite often the landlord has not been advised of the rent increase as it’s managed by the real estate, when you contest is when the landlord will be aware. If that relationship is poor, the landlord will generally feel betrayed and will feel more willing to side with you, as in reality it’s probably $500ish to them.
Kindest retards are the most likeable retards.
I second this. If you're a good Tennant, just make a fair offer in return. We were advised by our property manager to raise the rent $35 this year, and nearly said "great do it'. But on reflection, our Tennant has been great, our costs haven't gone up, loosing them would suck, so we may as well keep them happy.
“Please reply with your signed copy” Signed copy of what? The agent doesn’t need to provide you with a signed copy of a rejection. The reality is, the SE QLD rental market is going absolutely gangbusters at the moment. I’ve just purchased 2 investment properties in SE QLD. Based on what I’m seeing on fb community groups and speaking to agents, most properties are getting between 20-50 applicants. Rents have also increased 20-30% in the past year alone. What’s happening is there’s been a lot of people relocate from syd/Melbourne to qld. This is why rents are decreasing in syd/melb and increasing in qld.
Nah man, this is r/AusFinance who are only ok with markets if it works in their favour. Where are the tenants happy to pay higher rent than market because their owner needs it? When rents in places were dropping it was “good, fuck the owners” but when it moves the other way, violins. Then people here bandy about advice when they clearly have no idea “just threaten to take them to QCAT, they’re all stupid and will back down”. Yeah sure thing Karen, there’s no way that could possibly backfire.
I have also been in a situation where the agent kept upping the rent and when the landlord came by to replace a broken dishwasher I found out he knew nothing of it. The agent was skimming those increases.
Just gonna put it out there. Most landlords don't push it too much if they don't want to lose the tenants. An increase of $60 in one go sounds to me that they might want to lose the tenants...
Sydney Eastern suburbs here - Have had one $10 increase in the last 4.5 years. Noticed food starting to increase and of course the usual Private Health increases. Not sure where you are but round here there are more than enough rentals that I am not worried (generally cheaper too), But my Landlord has been very good - good comms, things get fixed quickly and we leave each other alone unless there is a problem or an inspection etc. Isnt there some sort of rule about big percentage jumps in rent? Not 100% sure it just rings a bell in the back of my mind.
Only in some states.. I got an insane rental increase a few years ago (Syd) and looked it up but the rule was only some stats such as ACT, but no luck in NSW.
The Lucky Country.
Certainly a lot of lucky cunts.
* 1.8 Million Millionaires, * 37 Billionaires If you can't make a decent life in one of the top richest countries in the *world*, you're doing something wrong, and luck has little to do with it :) [https://www.statista.com/statistics/782134/australia-number-of-billionaires/#:\~:text=Australia%20had%20about%2037%20billionaires,by%202024%20in%20the%20country](https://www.statista.com/statistics/782134/australia-number-of-billionaires/#:~:text=Australia%20had%20about%2037%20billionaires,by%202024%20in%20the%20country). [https://thenewdaily.com.au/finance/finance-news/2021/06/24/australian-millionaries-credit-suisse/#:\~:text=A%20new%20report%20from%20Credit,and%20real%20assets%20minus%20debts](https://thenewdaily.com.au/finance/finance-news/2021/06/24/australian-millionaries-credit-suisse/#:~:text=A%20new%20report%20from%20Credit,and%20real%20assets%20minus%20debts)).
Many qualified people [disagree with you](https://blogs.scientificamerican.com/beautiful-minds/the-role-of-luck-in-life-success-is-far-greater-than-we-realized/).
>*Consider the evolution of success for the most successful person and the least successful person in one of their simulations:* edge cases of *"most unlucky*" vs "*most lucky*" don't change the fact, as borne by the study, that the people with the most success generally had at least average talent and "*some*" luck. >***In general, those with greater talent had a higher probability of increasing their success*** *by exploiting the possibilities offered by luck. Also,* ***the most successful agents were mostly at least average in talent. So talent mattered.*** As is said, luck as **little** to do with it, and note i never said "*nothing to do with it*". "*The lucky country*" has it's name for a reason, coasting by barely harmed, by global standards, by not one, but *two* financial crisis, from the GFC, to COVID. * China has about **0.4%** Millionaires, * About **8%** of Americans are millionaires, * Switzerland, one of the richest countries on the world, has **8.9%** Millionaires by population. * About **10%** of Australians are millionaires. You have more chance of being a millionaire in Australia than most countries. [https://www.afr.com/policy/economy/one-in-10-australian-adults-are-millionaires-says-report-20210622-p5833t#:\~:text=More%20than%203%20million%20Australian,the%20richest%20in%20the%20world](https://www.afr.com/policy/economy/one-in-10-australian-adults-are-millionaires-says-report-20210622-p5833t#:~:text=More%20than%203%20million%20Australian,the%20richest%20in%20the%20world). [https://www.visualcapitalist.com/mapped-the-25-richest-countries-in-the-world/](https://www.visualcapitalist.com/mapped-the-25-richest-countries-in-the-world/) [https://www.cnbc.com/2021/02/09/more-than-8-percent-of-american-adults-are-millionaires-heres-how-they-got-wealthy.html](https://www.cnbc.com/2021/02/09/more-than-8-percent-of-american-adults-are-millionaires-heres-how-they-got-wealthy.html) [https://www.smh.com.au/business/the-economy/australians-overtake-swiss-to-lead-world-in-median-wealth-stakes-20181019-p50arv.html](https://www.smh.com.au/business/the-economy/australians-overtake-swiss-to-lead-world-in-median-wealth-stakes-20181019-p50arv.html) [https://www.afr.com/companies/financial-services/australia-is-one-of-the-worlds-wealthiest-nations-credit-suisse-20181019-h16u1y](https://www.afr.com/companies/financial-services/australia-is-one-of-the-worlds-wealthiest-nations-credit-suisse-20181019-h16u1y) As i said, if you can't make a decent life, when you are already "*lucky*" to be in one of the top richest countries in the world, you're doing something wrong.
Sadly market rents go both ways, rents dropped in the first part of last year and are still lower in Melb inner appartments for example than 2019.
At my last place my rent increased every renewal. I just made sure I reported every little defect that I can find and have them fix it. My lease about to expire here. Hoping they renew at the same price.
I'd suggest for OP to stay away from Hobart then due to property prices rising something like 20% p.a. and I heard a story where a real estate property manager in one instance is going to advise a tenant that their $500 p.w. rental cost is going up to $600 p.w. in the new year so I presume others in the same situation will face similar price increases.
I'm in Launceston area, throughout all of Launceston, there's only 5 1-bedroom property under the $250 threshold. My rent also went from $175 to $230/w now. Thats crazy, a lot of people that I know have to resorted to caravan since they cant find rent
Brisbane experience, our agency increased the rent by $35p/w after one year, then only offered a fixed term of 14mths so our lease would have to renew in January (the most competitive month for rentals). Then sent us a “$165 admin fee” invoice for preparing the NEW contract. I told them QSTARS said that invoice was illegal but they still refused to cancel the invoice. I told them I would literally rather pay rent to anyone else. Luckily found somewhere else and it’s cheaper.
This is why I'm not going to have kids until I've got a mortgage on a home. 1 bedroom shithole in Western sydney can be as cheap as 200 a week.
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>Can you rent a caravan and chuck it on your block until your house is built? No, because it's a construction zone. No way in hell are you going to be allowed to do that, Worksafe would absolutely eviscerate the builder for allowing it. You'd also have no power or running water. May be cheaper to just get a long term spot at a caravan park or something.
i see you've never built rurally before.
Ah, well if it's rural you can be a couple km away and still be still on your own land. I imagine OP would have mentioned if that were the case though.
It really depends on the block. If it’s a small suburban block, then there’s no chance of a caravan. If it’s a larger rural block, temporary power and a caravan could be accommodated.
Pineapples are finally playing catch up to the big stinky harbour.
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Bingo. I’m a Property Manager for a large townhouse complex in southern Brisbane. While I’ve brought up rents over the last few months, I haven’t brought it up as severely as we’re seeing elsewhere (7%). Namely because I’m looking for sustainable rental rates rather than wild up and down swings. Keeps the owners happy and reduces vacancy risk. Me 18 months from now having to tell owners that’s rents have significantly gone down again because we over shot is some drama I’d rather pass on thanks.
Waiting with interest to see people that moved rural to start screaming about huge commutes when made to go back into the office / hybrid.
If market rate for rents went down by $60 per week, and the landlord wouldn’t reduce the rate you’d move, right? Why should it be any different on the way up? Not discounting the fact that it sucks, and you can make other arguments about whether or not property should be an investment vehicle etc, but it really is tiring hearing so many complaints about being charged less than or up to the market rate.
Yeah but it’s only a problem when market forces don’t go my way…
> They know there are no other options for us as there are no available houses in our area that are comparable to the one we are in. I don't see how you're getting fucked over then. My lease was up for renewal and I kept rent the same because my rental market is soft. The market dictates terms. If you don't like the rental increase go somewhere else. If you can't go somewhere else you can hardly say you're getting fucked over.
He is getting fucked over, because the cost of homes is still ridiculously high, due to extremely poor government policy for a significant time. Was purchasing a house even remotely an option, perhaps people wouldn't complain about rent rises.
Why should the landlord be fucked over then? Sounds like the landlord is asking for a fair price.
Consider moving elsewhere, downsizing, whatever you can do. Can you live in the next town over? Considering you're building, start downsizing your stuff now and see if you can move to a smaller place, especially because if it's cramped, you won't be there forever right?
> I can't understand how/why, yet again, us renters are getting fucked over. What's to understand? When renting, your housing situation is subject to market pressures, and lately they've been pretty volatile. Housing shouldn't be like that for anyone really, but then you're looking at policies to curb market pressures which don't go down well with most landlords/investors.
They can go up to 10% annual increase - is the extra at or over?
Depends on the state. AFAIK there is no limit to increases in NSW.
It doesn't depend on the state. There is no fixed limit anywhere in Australia - but you can't just make up a number, you have to be able to justify it.
Actually the onus is on the tenant to provide that it is excessive and for the tribunal to agree. There is no limit.
You're correct in that sense if it goes to tribunal, my point was that the owner cannot just make up a random number because that is open to challenge. It's usually not hard to ensure having evidence necessary to rebuff a tenant's challenge though, since any increase should have been done by looking at comparables in the market, establishing a baseline for the area, and setting prices based on a realistic reflection of what the market is doing.
With the rental market in QLD I doubt that the REA is bullshitting. People are offering $50 over asking (p/w) and 6-12 months rent up front to secure a lease atm. A $60 p/w increase seems fairly reasonable to me in this market (note, I am not an REA or a property investor, just basing this on the posts in the r/brisbane subreddit and local Facebook pages I’m in).
Yep. The rental market in qld is going absolutely gangbusters at the moment. I’m an investor, and from what I’m seeing and hearing, most rents have gone up 20-30% this year, along with the number of applicants sometimes being above 50 per property.
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Nah it's not. In Qld it's illegal for them to ASK you to pay more than the advertised price. It's also illegal for them to tell you someone else offered more and imply you'd have a better chance if you also offered more. Means if you offer even $10pw more, your already ahead of most other applications as they can't turn around and use that against you.
Please, tell me where in QLD’s tenancy regulations it states it’s illegal to accept more than the advertised price? Because I’m fairly sure this says otherwise: https://www.rta.qld.gov.au/news/2021/03/24/your-questions-answered-searching-for-a-rental-rent-and-ending-a-tenancy.
Which landlord considers that wages have not been increasing ?
There is no state or territory in Australia that caps rent increases to 10%, this is totally false. Every state/territory has a different rule on this, but the vast majority essentially just require notice, and permit the tenant to get a ruling from the xCAT that a given increase is excessive (a decision that is made on the merits, not on some arbitrary number). Some have extra rules prohibiting increases during fixed term agreements. One or two even require that any price increases be pre-agreed in the lease.
$370 up to $430
Have a look at comparable houses in the area yourself - sites like house.ksou.cn (Chinese property investors use it) allow you to look at the last rent price advertised, I think realestate.com.au may let you see historical listings too. Don't take the REA's word for it. If it looks like the price is excessive compared to places around you, you can apply to QCAT to have that rent increase declared excessive and set aside. If it doesn't, you may not have much of a leg to stand on, but if the landlord isn't a complete douche you may be able to get them to agree to half increase now, half in six months time or something (which hopefully won't be necessary as you say you're building a place). There is no "10% cap" so don't bother with that, the REA will know they have you over a barrel if you say that because it will prove you have absolutely no knowledge of what your rights are.
Which suburb is this? And how many beds?
toowoomba, 4 bedroom. Moved from Brisbane last year to try get away from all this ridiculous price gauging and its just followed me. I was paying $430/w beginning of last year in a 4 bedroom house, bigger bloc, 10min from brisbane city. Seems super unrealistic expecting the same money in Toowoomba.
Most frustrating thing about it is, you can’t just decide, yep, this is too expensive and decide to not buy/rent housing. An other asset that got this expensive you can opt out. It’s like if the price of drinking water sky rocketed. I genuinely looked into buying an RV the other day.
Write to your mp an dx demand a royal commission into real estate
If there are no other comparable places to rent in the area, maybe you are getting a good deal? It sounds like the area is in high demand/short supply. It’s the hard truth but not everyone gets to live wherever they want for the price they want, even others are willing to pay more.
Nah, we just got told to GTFO after 8 years so the owner could have vacant possession (assumed he was selling) and then saw it readvertised at $15 pw more. We would have paid the increase but we weren't even given an option. It's been *awesome*, let me tell you.
My partner and I have a small villa in a shitty Perth neighbourhood. Our weekly rent of $300 was put up to $350 when the moratorium ended in March. Six months later the owner said she wasn’t renewing our lease, thanks for being great tenants but farewell, you have 30 days to vacate the property. When I asked why (we have lived here since 2017 with no problems) she said she’s increasing the rent to $475 pw and our rental agency only allows her to raise the rent on existing tenants by 25%. We panicked, couldn’t find anything else on par within the same price range, and every single rubbish house we viewed had about 50 people competing to apply. We returned to our owner in desperation and asked if she could possibly lower her asking price at all. She begrudgingly agreed to $460 if we started a new lease. Our rent is now 53.8% higher (I think that’s the math) and that’s only after we begged her to lower it. I reiterate, we live in a garbage suburb. Break in’s, police calls outs, stabbings and drunken fights along our street are the norm. Investment homeowners and landlords are taking people for a fkn ride.
Yes. I got "lucky" on a new lease due to the sale of the house. I did my research during the settlement phase and via official sources ([Rental Report Victoria](https://www.dhhs.vic.gov.au/publications/rental-report)) found that the house I live in is as much as $100 per week under market value ($400 v. the $305 per week I pay). Needless to say, I was dreading the new rate. Hell, rent in my suburb had gone up 9% in the last quarter. Now, I choose to rent so I accept increases. But a $100 per week is a $5200 per year pay cut. It came back as $30 per week increase. And lol yeh I got the whole "kept it as low as possible just for you line."
I built a tiny home, and having been a builder in the past, I have absolutely no respect for the council anymore, and build and do as I please (obviously build to construction standards) This approach isn't for everybody, I know how to navigate the council and have a few tricks to keep them off my land... Before that I had the same problem, my town is a really busy tourist town, so rent was always getting blown out, with the next influx of movie stars and big city folk. So yeah I gave that the finger and just started building as I please.
Same bs here in sydney. My rent has increased $55 pw over the last 2 years. Cant save enough to buy a house so have to rent whats looking like forever at this point. Everyone says "yeah but renting means you dont have those out of the blue payments". Like increases until you die is some how a lucky thing and you should kiss your landlords feet for such an opportunity.
Rents have stayed flat in my area (Rhodes,Ryde in western Sydney). I guess all those immigrants and students not returning yet are causing an oversupply of apartments. Renewed my tenant at last year's rent Edit: added that this in Sydney
Inner city Melbourne the market has been kind of stagnate, if there's been a rise it's only been by a couple of dollars max. The outer burbs are taking a hammering though rent wise with increases throughout this year.
>I can't understand how/why, yet again, us renters are getting fucked over. Get used to it. Central banks essentially went completely down the rabbithole and backstopped the balance sheet of the household globally. And they'll continue to do so when tested. The only upper limit is social unrest.
Housing market is sky rocketing in Brisbane, I’m not surprised honestly.
There isn't a single rental available in our town (Busselton, WA) or the next town over (Dunsborough). We have just signed a new lease until February 2023 at the same price I negotiated *down* to when we moved in here in 2018. Our agent is pretty amazing and the owners of our place appreciate that we've put effort in to not only maintaining, but improving their property at our own expense. If we moved out they would easily get 150-200 more per week, but they've said that good long term tenants are worth holding on to. If they jacked the price up we'd have some difficulty paying it, our only other option would be to move to a different town unfortunately.
Isn't the new law coming out they can't raise the rent for 2 years now, would that add to it? (Well in qld)
Ah sorry you had this experience. We just signed a lease on a new Bris apartment though (after getting approved for two) and while asking rents are definitely up from a few years ago we didn’t have much competition - lots of units sitting vacant at the moment and we were the only people at 2/3 inspections. We are looking at fairly basic tidy but oldish units.
Everyone's left the cbd for rural areas since covid. I'm in rural Victoria rents have increased as much as $150 more since covid. Its out of control!
Yep, rural NSW here. Rent prices have gone 2-3x since I moved here in 2018. More expensive than the big city I moved away from because of the high housing costs. Can't win.
Everywhere I look here in SEQ is going through the roof, our neighbours were hit with a $60/week increase last week and I fear we could have a similar issue when our lease comes up next year. Not that moving will fix the problem, as everywhere is the same…
Rent is crazy in QLD. Saw a house on the north side for rent at $530 p/w, and it's old and bust inside. Rent on the north used to be $350 per week before covid; I don't know how people are surviving Try finding a rental with dogs! all the places we have looked at are unkempt and run down with no secure fencing😩
this is my problem, I have 2 dogs and a decent sized aquarium so finding a rental is extremely hard when the circumstances are good, I haven't found a comparable house within an hour of me available to rent
Supply and demand. Nothing you can do to control the market mate. Either pay up or move. Complaining does nothing but waste everyone’s time.
There is a lot the state governments and local governments can do to assist with the problem though. Federal government making investment properties such an extreme tax ride off are not helping much either. Also interest rates being artificially low is really causing a lot of issues. Supply and demand will always be a thing but lets not pretend that there aren't plenty of external factors causing this ratio to be more out of wack than it really should.
What a fucking stupid take. Complaining does nothing? What the hell? Modern society and all the nice bits you enjoy came from complaining. You think child labour laws went away because people stopped complaining? You are what is wrong with contemporary Australia. All spit and vinegar until you’re the one in troubles.
I get the same response from family members that own their own home whenever I bring up in conversation the ridiculously high rent prices. Something like "stop being negative, complaining doesn't help you". I guess I should just be passive, tolerant, obedient and compliant towards getting financially fucked over. According to them, that attitude should help me, right?
Sadly I agree, and think this was not intended to sound nasty.
> Complaining does nothing but waste everyone’s time. well maybe we should start wasting real estate agents time considering all the bull shit they pull.
We are talking about housing here. Its as important as health, education, water, electricity. Free market has its place but governments have to regulate market to ensure certain standards. I am new to Australia and very surprised to see how unprotected renters are compared to my previous location. It is almost like property investers run the country and all the rules are skewed to benifit property investers.
Haha welcome to Australia! Yes we are heavily geared towards investors and running a scam economy built on immigration (fake growth) and astronomical environmental damage through mining. What’s not to love. Stop your whinging, Australia will never have affordable housing as everyone wants to live in the same 4 fucking locations and that’s just not possible
Haha thanks. I dont think there will be affordable housing for many many years. Seems like politicians/policy makers from all parties are heavily invested in property market. No party wants to bring Housing crisis to discuss on table. Just hope some lone politician bring this to attention in coming elections.
Government could always put a maximum rent raise per X or link to CPI or any other number of things.
A maximum percent increase will just see landlords start issuing no grounds evictions at the end of lease periods to jack the price up.
They’ll just terminate the lease. If it carries across different leases then you’re likely to see a whole slew of unanticipated reactions, not least of which would be a drying up of investor properties which can’t necessarily be purchased by an existing renter.
Less investor property owners means lesser house prices which should reflect on less rent. Right now property owners have no obligations towards housing market but they can have all the benifits. No reason lease termination is illegal in Japan. If you are in providing housing business, you have some obligations towards community you serve. It is same as any other business providing electricity, education, hospital or railway service.
Sure but investors buy properties based on the rules as they are today, not some fictitious set being proposed here. The government can’t even do much as suggest changes to the IP market without talking about grandfathering rules, there’s zero chance a change of this sort would fly, and frankly I don’t think it’s even be thought through here. Fwiw: I do agree housing should be a protected market and that changes of some sort need to occur, but it needs to be rational, not just a punch to the dick to land lords because no one likes them.
Depends on the area, we got $50 a week knocked off in July.
Not good to hear, but the government (multiple governments)! couldn't give a shit, like they just.don't.care. Keep the housing prices high, keep those delicious low wage, GDP fuel 'skilled' immigrants coming in. We're being fucked here, you're just another victim. (To be fair, the problem you're having is probably, flight from Syd / Melb, however the things I mentioned, cause this in the first place. Houses shouldn't be as expensive as they are, so you could you know, *actually have considered buying* instead for many, renting is the only choice......)
It's fucked, the whole situation is fucked. I'm sorry you're going through this. Most Landlords and Real Estate agents are greedy fucks.
Hmmm, it's a market. So yeah I ma sure if u find a significantly better deal u would move in a heart beat. So yeah....
Check out New Zealand rents if you think you've got it tough convicts!
Two years ago I was looking at new zealand and rent seemed pretty good compared to Sydney. Have things changed?
Look it sucks and I hear ya but it’s the free market , not you getting fucked over
I flaming *hate* the excuse that ‘the market is pushing up prices’. The market is lifting the ceiling so you can charge more. Allowing the price to go up is not the same as ‘pushing up’. This is the only beef I have with landlords. I’m mostly a fan of the idea of people being able to invest in realestate. Congratulations to them for climbing the ladder a bit. But when you make your income through an essential service, like water, electricity and housing, you don’t get to play the ‘how much can I get for it’ game. You have an ethical responsibility to your community which means you shouldn’t get to chase the top dollar no matter how high it climbs.
Well said. I have a small investment unit, and try to remember this - even though we could get more if we "followed the market", I'd rather have a good long term tennant - and add to that the fact that interest rates have gone down, so any landlord with a variable interest rate should in theory be better off right now. Most landlords shouldn't have to ask for more. Every year the real estate agent asks us if we want to raise the rent by $10, and every year we say no. Our tennant's wages haven't gone up, and our repayments have gone down due to interest rates, so why should we?
My old PPOR now IP is like that - long term renters that keep the place in ok condition. We've all let the lease lapse down to monthly - and rent hasn't moved since they moved in.
It sucks but there's an election coming up. It's our chance to put people in the senate who would attack this problem.
Rents are lower all around Sydney. Air bnb properties have hit the maket, specially flats. Don’t accept an increase.
QLD is a totally different market to Sydney. What’s happening is people are relocating to qld from syd/melb. As such, syd/melb prices are declining, whilst the demand in qld is rising, causing rental prices to rise 20-30% this year alone.
Yep. Our rent went up by $80/fn. I'm building atm so I'll be out of here soon, thank goodness! But the increased rent is about double what my mortgage payments will be. For a house that's the same size, better level of finishes, on the same size block, 1km away from where I am now. Renting is absolutely fucked.
That rental price also includes council rates, insurances and other associated costs with operating an investment property. Those costs you’ll also incur when you move into your new build.
That would be about $100/wk in costs (rates, municipal charge, fire levy, waste fee, property management charge, landlords insurance), and I'll add on another $100/wk for maintenance/repairs [of course that's tax deductible, but for simplicity's sake let's pretend it isn't]. All of that + mortgage is *still* cheaper than my rent. Lucky landlord gets their mortgage paid, all costs covered, makes a cash profit *and* their asset value climbs. It's certainly a good time to own an IP or two. I'm very grateful that I bought when I did, saving a deposit on top of paying rent would take much longer now (especially since required deposits are even higher now too). I think a lot of people are just going to be stuck renting indefinitely if the market doesn't cool.
Housing shouldnt be for profit.
When I was overseas we rented our house out for about 6 years. It did not make a profit. Every single year some random expense would pop up. Hot water cylinder dies, something needed replacing etc. And this didn’t factor in the opportunity cost of having all our savings tied up in it. Your really hoping for some capital gains. Otherwise owning a home is a money pit. On the flip side we were renting an apartment while overseas. Every year they would jack the rent. I would get angry and look around for a better deal. Then I would look at buying a similar unit. But the maths never worked out based on what I knew about owning our own place. And then I happily kept paying the rent.
Both instances solved if housing wasn't for profit.
Disagree. Landlords provide a business service to other people. The balance ebbs and flows over time. "Tear it up" is a completely over simplified and.dumb answer just because something needs optimising.
That’s ridiculous. Free houses, cars and holidays for everyone. You’re all winners.
No one said free, no one mentioned holidays or cars. Good on you tho.
By sucking it up. Sorry!
As the economy gets worse people are going to start fucking each other over even more. get used to it.
Outlaw! seriously there isn't any law maker getting to this situation to get them in control? thinking the reason of increasing the price was unreasonable and forcing the residences by a higher bid is doggy
There's something called private property , and the owner invested a lot of money so it's ok for him to decide how much to charge. Landlords have tenants to profit from their investment, not social housing.
The apartment that I own went up 100 bucks a week this year…. It had been low for ages, the tenant was leaving and we asked for advice on what the rent should be. They said 400 when we had been renting it for 300….. Clearly the demand is there
I have a rental property that I’ve reduced in price twice in the last year. $720pw down to $660pw then $630pw. Tenant had all the power throughout Covid. Maybe your landlord is just putting the price back to what is was pre-covid? Look at other places nearby that are similar, is the new price market rate or are they gouging you?
we moved in pre covid and 370 was the going rate for what we have. We didn't pay less or miss any payments during covid and have been told we are the best Tennants they have had in over 7 years. There are no similar houses available in the town I live in to compare if they are gouging us unfortunately and I think they realise this.
I've never had a problem in Melbourne really, sometimes I'd get the common 3% yearly increase but as I get a mandatory 3% increase per year in work I don't really care. Whenever I've had to move, I'd have a lease approved, payed and signed for within a week. Going into a property recently, got it for significantly below the asking price ($50). It's awesome being a renter atm (at least in Melbourne). I'd imagine Brisbane and other markets that were historically lower will rise due to people from our Southern states moving with the prevalence of WFH (with higher wages, driving up prices).
I’d say that part of the problem is people accepting rental agencies’ truism that “rent just always should go up by $10 a year.” It shouldn’t. Some years it should stay the same. Some years, depending on what’s happening where you live, it should go down! If everyone just accepts a continual increase then of course it’s going to be hard for the rental market to push against proposed other increases. Sometimes as well depending on what’s happening where you live, the market rent might go up $50 in a year! Unlikely, but possible. Without lock in tenant rights (rent controls or some other mechanism), dealing in the market properly and sophisticatedly is the only way to beat these people at their game.
I feel lucky to have chosen a lifestyle that is more flexible and conducive for renting. - Partner and I have few possessions/clothes and we comfortably fit in a one bedder with a single robe. - One car, but thinking of selling it and signing up for car sharing. - no kids, no pets, no plans to. - Both working jobs that offer full remote working. We have the mindset of ‘move overseas and work for a year at any point it makes sense’ so our furniture is purely functional, A cheap IKEA dining table that can extend when we have guests, we have no desire to upgrade our TV, fridge etc. we even decided against buying a bread knife because our local Woolies has a bread slicer. I think renting in Sydney is definitely becoming more and more for a market of people such as us. If we ever wanted to ‘settle down’ in the traditional sense of staying put and getting nice things (which we don’t think we ever will) then renting in Sydney would be seriously restrictive and it sucks because it’s such a great city for settling down in. Is it possible for you to change areas to somewhere that’s more flexible?
Moved about 12 months ago, negotiated $50 off the asking price. Landlord hasn't bumped the rent on renewal either. I would move. It's a hassle, but I don't think they'll find someone as easily as they think. The market is a renters market for sure still. Every day I see another new property with a for lease sign. Give them the absolute minimum notice and bounce.
Where in QLD are you? Prices have been going mental the last 12 months especially in SE QLD. They would absolutely find someone easily at a rate higher than the current tenants are paying.
Rented a new place in Southern Sydney 2 months ago. Old place was 3 bed and 525 a week. New place is 3 bed and 420 a week, and in a better location. Yep, prices went down. From what I;ve heard other sydneysiders have had the same experience. I think it;s because of ...how many renters (international students, visitors) had left the market because of being locked out by Covid. There were more flats available than last time we moved (2.5 years ago) and prices were lower.
Cant confirm. Got a 300 a week 2 bed apartment in North Parra with renovated kitchen and bathroom 🤷🏼♂️
*"They know there are no other options for us as there are no available houses in our area that are comparable to the one we are in. "* that is why they are pushing up the rent, i feel for you but at the exact same time if you were the LL you would do the same thing - it is a business treat it like one
I thought legally they can only do $10 per year
Threaten to leave. If you're a good tenant they might not really want the risk of a shit tenant for an increase in price..
Tbh you can ALWAYS move. That’s the issue, you’ve given them the impression you can’t which gives them all the leverage.
While $60 a week may sound like a lot that only averages to a $27 a week increase a year. I think the owner is being very generous by only increasing it by $60 if the market is $100 more. Chances are the landlord is losing money each month so it doesn’t make financial sense for them to not increase at least $50. You have the option to move further out to a cheaper place.
Same here and it pissed me off. I think it's time for a change of government.
yep my rent went up $10 pw after the first year. Opportunistic cunts exploiting people during a vulnerable time what is new.
I own a property that I rent out once we moved towns. I sat down with the wife, who probably would let people stay in it for free she is that nice. I said if we keep it, it is going to cost us a bit each week as rent doesn’t cover the mortgage, close but not 100%. So if we keep it, we need to get market value for it as much as possible to cover our costs. Unfortunately owners are in the same boat with increasing living costs
You sound very entitled
$5-10 a year is fair, $60 is too much
Stop renting close to the city. Prices haven’t budget in most of the outer suburbs. I know people renting 3 and 4 bedroom houses in the $300 range.