The real estate agency brags about raising the rent by about $255 a week
The email was presumably intended for the owners.
A Melbourne estate agency is getting blasted after an email boasting huge rent increases was sent to a tenant.
It’s no secret that the rental market is currently booming, with median rental prices up 72.6% in some Australian suburbs over the past twelve months. And with the rising cost of living putting more strain on household budgets, rent increases are the last thing renters need.
But while most estate agents realize this, one Melbourne agency has been actively bragging about the “biggest rent increase”.
In an email that was presumably aimed at landlords — not tenants — Ironfish Real Estate noted its “June accomplishments,” including the highest rent increase of $225 a week for a hapless Melbourne tenant (this which equates to a whopping $977 per month). The Rental Update also noted that the average rent increase is $98 per week.
The email was sent to r/Melbourne subreddit by a tenant claiming their own rent increased by $400 per month, which is actually less than the average rent increase for tenants with the agency.
Contrary to popular belief, there is no set amount your landlord can raise your rent to, as it all depends on the real estate market.
While you can fight increases you think are “unreasonable,” there is no national definition of reasonable rent increases, and a court will typically focus on market conditions, rather than the increase itself. . So basically, if your neighbors are also hit by massive hikes, your bargaining power will be limited.
Melbourne remains Australia most affordable capital for the location. However, it’s worth noting that unlike other states, Victorian landlords can generally only raise your rent once a year – so those on 12-month leases may be hit by rent increases. when considering renewing.
But if you’re experiencing raises of more than $900 a month, it may be worth considering your options and exiting ownership.
Junkee has contacted Ironfish Real Estate for comment.