Estate agency Ironfish apologizes for ‘insensitive’ email celebrating rent hike

Real estate investment firm and estate agency Ironfish have issued an apology after receiving widespread backlash following a recent outburst of emails celebrating rent increases.

The first bulletin, sent out on July 29, featured a banner titled “Biggest rent increase of $225 per week” and “Average rent increase of $98 per week” accompanied by an image of two children laughing while hugging each other. fighting over pillows.

It gained traction on Reddit when a tenant posted a screenshot of the email with the caption “my rent just went up $400 a month and the agency emailed me mail to brag about it”.

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The post has since received over 290 comments, including from one user who said “as a landlord and supplier this is cringe…if my real estate (agency) was bragging like this I’d be out.”

Another owner weighed in saying “it’s not warranted”.

“It shouldn’t even be legal to raise the rent that much for the same tenant…different if new tenants come in, but it’s an outrageous amount,” the comment read.

While some users speculated that the email was intended for landlords and mistakenly sent to tenants, others pointed out that the email contained references from a landlord and a tenant.

On Saturday, Ironfish sent another outburst, this time titled “apology from Ironfish property management.”

“We would like to apologize for our recent email newsletter which highlighted some rental price increases for managed properties in the Melbourne CBD,” the email began.

“We know that many of our clients, tenants and landlords, have experienced intense stress and financial hardship during the Covid-19 pandemic.”

“We understand that a leasing crisis is no cause for celebration and accept that the tone of the update was callous.”

It comes as PropTrack’s June Rental Report highlighted that Melbourne’s rental stock has shrunk by 25.7% over the past 12 months.

SQM research also showed the city’s vacancy rate hit 1.7% in June, with rents reaching a whopping average of $566 in July – the highest since the pre-pandemic high of $554. per week in March 2020.

Another Reddit user commented on the thread saying “this email makes me sick”, while another user wrote “this is just disgusting”.

“They’re literally celebrating ripping off desperate people…it’s just deplorable,” the user said.

The original poster added in the comments “I don’t know what I’m going to do yet”.

“With the rent going up, my doctors aren’t billing en masse anymore and my depression is the worst in years, I feel pretty overwhelmed,” they said.

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