Is a $30 Rental Increase Reasonable?

kittymtd on 19/01/2022 - 11:49
Last edited 21/01/2022 - 11:39

I've been living in my current rental (3 br 90s home) in SE suburbs of Melbourne since September 2016, so over 5 years now and current lease is ending in March. The rent has stayed at $350 per week since we moved in and I said I was interested in a 6 month renewal, and the REA has advised the landlord wants to increase rent to $380 per week 'as it is well below market price', so a $30 increase.

I'm fine with the idea of increasing the rent generally, but $30 a week or an 8.6% increase seems like a large jump in one go considering we've been good tenants. Just curious to hear other opinions, and whether it's worth haggling the increase?

Update: Thanks for all the responses. We negotiated an increase to $370 per week for a 6 month lease.

Home & Garden

Comments

  • Ghost47 on 19/01/2022 - 11:54
    +67

    It sucks but averaged over 6 years it’s a 1.43% increase per year which is likely close to inflation. Would it have been easier to stomach if the landlord increased it by $5 p/w each year over the last 6 years as opposed to doing it in one go?

    You could try to haggle it but I think I know how that would turn out.

    • avoidfullprice on 19/01/2022 - 12:26
      +81

      if landlord increased rent $5/wk each year, OP would be worse off by 4.7k. Im not sure OP is seeing the good side of this decision. Milk has gone up in price by more in comparison

      • kittymtd on 19/01/2022 - 13:58
        +7

        That's true, didn't think of it that way.

        • Kangal on 20/01/2022 - 22:31
          +4

          Before you respond to your agent/landlord… have a look online (and in-person if possible) to see what rent prices are. Check for places in similar region, that are better and worse. Then you'll get more of an idea of what it is worth to rent your current place.

          It is totally possible that you got ripped off 6 years ago, and it's only hit it's fair price now, and your landlord wants to be greedy and continue collecting above market rates.

          But I think it's more probable that you were paying at-market rates initially, and have been paying under market rates for a few years. And I think it's probable that your rent should increase by $50, but the landlord has been happy with you and didn't want to jeapordise you leaving, so he decided to only increase it by $30.

          The bad part in all of this, isn't that your rent is increasing, it's that your income generally doesn't. Also there's the silent death by incremental price increases in your insurance, food, utilities, and fuel consumption. I guess the silver-lining is that you've probably enjoyed a decent living regardless, and most other nations/economies are doing far/worse (eg Turkey, Argentina, etc etc).

    • HeWhoKnows on 20/01/2022 - 13:26
      +4

      Its not the rent increase that counts
      That is totally irrelevant

      And as Ghost47 above rightly points out whats more important is the amount of increase in percentage and dollar terms since the last rent increase!
      Which Ghost47 calculated to be $5/wk each year or less that 1.5%pa

      But most importantly its the new amount of rent being charged

      Is it above, at or below or below the market

      That is the question!

      Hence OPs question cannot be answered because it it a loaded question taken out of context.

    • frewer on 21/01/2022 - 22:14

      Ikr, our rent increase £70 a week this 27th. We've been here over 4yrs …Meh

  • saitaris on 19/01/2022 - 11:57
    +40

    Well is it below market rate like the LL claims? If so, it's not like you have much leverage. They can refuse to renew and find a new tenant at the higher price, you'll pay moving costs and a higher rent elsewhere anyway.

    If you haven't had a rent increase since you moved in five years ago, and you're currently paying below market rates, $30pw doesn't strike me as excessive if it is bringing your rent to market value.

    • kittymtd on 19/01/2022 - 12:01
      +5

      Looking at other available rentals in the area, I'd say it's below market rate.

      • Drakesy on 19/01/2022 - 12:07
        +73

        I think you just answered your question.

        • SF3 on 19/01/2022 - 12:23
          +5

          It's loss aversion at play here. It's mental gymnastics rather than logical.

  • Gros21 on 19/01/2022 - 12:00
    -2

    <10% is fine esp with the current market

    • kittymtd on 19/01/2022 - 12:02

      Interesting, thanks!

  • salmon123 on 19/01/2022 - 12:00

    whether it's worth haggling the increase?

    What do you have to lose?

    as it is well below market price

    Is it really below market? If it is, then you probably just have to suck it up.

    • kittymtd on 19/01/2022 - 12:03
      -8

      It is below market looking at other rentals in the same suburb. I might just try and see if they're willing to do a $20 increase.

    • jv on 19/01/2022 - 14:55
      +10

      What do you have to lose?

      A place to live…

      • salmon123 on 19/01/2022 - 15:56
        -5

        A place to live…

        Huh? No one has ever been evicted for haggling on their rent.

        • jv on 19/01/2022 - 16:46
          +16

          evicted

          lease has ended.

  • ihbh on 19/01/2022 - 12:04
    +7

    Reasonable?

    Reasonable is with respect to the market of comparables.

    If you think it's unreasonable, then vote with your feet.

    E.g. if market is $100 and you're paying $80 and increase is $10 to $90, then still very reasonable, even though it's a big % increase.

  • Big Lenny on 19/01/2022 - 12:05
    +48

    you've had a good 5 year run without any rent increases. seems very reasonable to me..

    • Stopback on 19/01/2022 - 12:23
      +11

      A good tenant is worth much more then another 30 a week. Which is only 1.5 K a year.

      • dirtybigbjelke on 19/01/2022 - 13:55
        +6

        Correct. It takes ages to recover the fees paid to the REA from the rent increase. Much better to leave alone a good tenant who looks after a property and pays on time, within reason. The REA likes to push for increase of course as they are paid based on percentage..

        • mskeggs on 19/01/2022 - 16:14
          +4

          Sure, but if the landlord has said that each year for the last five, does rent never ever go up?
          That is what the question is about, if an 8% increase after no increase for half a decade is reasonable.

        • gromit on 21/01/2022 - 07:54
          +2

          The problem then is you get stuck at a rental rate where after a few years in order to bring it up to market rate you would need to do an "unreasonable" rental rate increase as each year you fall further and further behind. Much better to keep the rent at least close to market rate (perhaps a little below if they are a good tenant), you want them to stay, not to subsidise them.

          The tradies to maintain the house won't not charge you full rate because you have been a good customer, the government won't not charge you the increase in land tax/rates etc and the wear and tear on the house won't be voluntarily paid for by the tenant. The realities is $30 turns into more like $50 with other costs rising and they aren't going to stop rising just because you were nice.

      • Blakus on 21/01/2022 - 16:26

        Yeah but I reckon when the OP asked for a 6 month term the LL thought well they are going to leave anyway.

    • Iwantthebestprice on 19/01/2022 - 12:25
      +5

      For a property built in the 90’s and a tenant for 5 years with no issues, I would highly doubt they will lose their deposit. Between fair wear and tear and also the carpets beings more then 5 years old, house would require a fresh layer of paint etc I would take any issue bought up by the land lord straight to VCAT! A landlord once tried to screw me out of $4.5K for “damages” after going to VCAT I got my entire bond back and did not have to pay any extra for damages, this was over 5 years ago but I doubt much has changed. To give an example a bathroom sliding door came of the hinges and bracket, but door was built into the wall cavity so only way to fix this stuck door was remove some wall, fix it, re plaster etc, VCAT ruled the door coming off the hinge as not my responsibility. ALWAYS GO TO VCAT

      • Jolakot on 20/01/2022 - 16:01

        Exactly this, something agents and landlords really don't want you to know is that even if you are responsible for damaging something, they're only allowed to charge you the pro-rata cost for replacing it. And they also don't get to make up their own BS either, they must use ATO depreciation rates if applicable. The table is at the bottom here: https://www.ato.gov.au/uploadedFiles/Content/IND/Downloads/R…

        So even if something costly is damaged that's 100% your responsibility, like a brand new carpet that was installed before you moved in having been ruined by pet urine, then if you've lived there for 10 years (carpet installed 10 years ago has 10% depreciation each year), you legally owe them nothing for replacing it given it's end of life. And if the carpet was ruined from 5 years of only typical use, then it's wear and tear and you also owe them nothing!

        The landlord must prove to VCAT that the damage is both unreasonable and has significantly cut short the life of the carpet, and this gets extra murky when there's both wear and tear as well as unreasonable damage. So for bond disputes after long tenancies, VCAT will often just ask the tenant to pay 50% of whatever is left after depreciation is factored in

        Basically never let an agent take anything from your bond without making them go through VCAT first, half the time they'll just drop it as they know they'll lose or it'll be cut down so much that it won't be worth the application fee or time

    • brendanm on 19/01/2022 - 12:55
      +25

      tenants
      tennant
      tennets

      Impressive.

      you will loose your deposit as im sure they will find damage after 5 years

      No, you will not lose your bond.

  • jimbobaus on 19/01/2022 - 12:18
    +3

    on the rent increase form there is a box u can tick at bottom and send off for an "independent review"
    Just be aware if the review determines the agent could be charging more they are allowed to increase it to the reviewed amount.
    Its a double edged sword but can often work in your favour

    • stringbean402 on 20/01/2022 - 07:50
      +2

      Until they withdraw their offer for a new lease…. then your free game for the open market.

  • tsunamisurfer on 19/01/2022 - 12:24
    +39

    OP has had zero increases in rent in 5 years then bitches about $30.

    God I wish tenants who think they deserve better would just leave.

    • Stopback on 19/01/2022 - 12:26
      +2

      This has been a very good time for a home owner. Low interest rates. And property values been increasing.

      Wages however been stagnant. And inflation been up

      • tsunamisurfer on 19/01/2022 - 12:30
        -4

        This has been a very good time for a home owner.

        And? Is there a rule that says the 'good time' has to cascade down to the tenant?

        Low interest rates.
        What if the owner has fully paid it off, should we expect him to rent it for free?

        And property values been increasing.
        These are just paper capital gains, means nothing until crystalised, and upon selling the property the tenant will probably come back on here with a new Thread "Help….my Landlord is selling the property he owns, is this reasonable? LEL."

        • djkelly69 on 19/01/2022 - 13:21
          +8

          Is there a rule that says the 'good time' has to cascade down to the tenant?

          LLs would be pretty quick to pass on any costs they can in the 'bad times', so it does make sense for the reverse to be true.

          • tsunamisurfer on 19/01/2022 - 14:00

            @djkelly69: They can try but its down to what the market can support.

          • Grunntt on 20/01/2022 - 13:32
            +1

            @djkelly69: Can I ask what you would do if you were ever in the situation of being a landlord?
            You see the houses in the same street being rented for $150pw more than yours.
            Do you quite happily accept receiving $7,800 less every year for 5 years (ie $39,000).

            I don't actually believe there are too many renters who would do that if they suddenly became landlords.

            Just to be be open - I do own an investment property and the tenants have not had a rental increase in 4 years (but, if it was so significantly out of kilter with the area's going rate, there would be an increase - but not to that full extent. Good tenants deserve a reasonably stable rent and manageable increases when it occurs)

          • tonka on 25/01/2022 - 16:10

            @djkelly69: Question for you. My tenant has been in place for 8 years. I haven't increased the rent in that time and I don't bother them with inspections. The rent is now about $200 or more a week under market. And when there was repairs needed and I had trouble finding goods and labor to get it done they sent me crappy toxic texts which made me feel the idiot for letting them off for tens of thousands of dollars rent. What do you suggest I do?

            • djkelly69 on 25/01/2022 - 16:19
              +1

              @tonka: Engage a property manager, because it appears you are not capable of doing an adequate job yourself.

              • tonka on 25/01/2022 - 17:40

                @djkelly69: Yes this is an option, however I sacked the last one because they were incompetent. Sending emergency after hours tradesmen for routine maintenance without my consent etc. And sending tradies to complete the wrong maint. I have also found also the real estate agents can create a disgruntled tenant as they play the owner and tenant off to each as the bad guy, which ends up costing more in repairs and maint. I have another tenant I have had for 20 years that the real estate seems to have turned toxic towards me when we had a good relationship.

              • tonka on 25/01/2022 - 17:41

                @djkelly69: But….. Answer the question. What do you think should happen with the rent.

              • tonka on 25/01/2022 - 17:44

                @djkelly69: It is hard to understand what you are advocating. You criticize one person for increasing the rent, now criticize me for not increasing it. I'm confused.

            • Yola on 25/01/2022 - 17:20

              @tonka: Why were you not increasing their rent?

              • tonka on 25/01/2022 - 17:31
                +1

                @Yola: Didn't bother me at the time. Half goes in tax etc and happy to look after the tenant with expectation they look after my property, pay rent on time. Then co-vid made it difficult to increase rents in a climate where people were feeling entitled to rent concessions etc. Now the area has doubled in price over the last few years with near zero vacancy.

                • Yola on 26/01/2022 - 15:17
                  +1

                  @tonka: I think the lesson from your experience is to increase the rent regularly. If you have good tenants maybe not as high as the market would indicate. Unfortunately, being nice to someone does not guarantee that they will be nice back. You also get situations like the OP - his LL has been nice not increasing the rent and now that he has he thinks it's unreasonable. Regarding the toxic message could it be you are too close to the tenant and so they feel they can do that? This is why I prefer to have PM and sure some are incompetent but you have to search till you find a good one.

                  • tonka on 26/01/2022 - 16:50
                    +1

                    @Yola: Agreed. Not close to them, very hands off never met them in 8 years. The rent not a problem for me, as I said half goes in tax. Mainly making a point to person above that 'LL's' are not necessarily quick to pass things on, not that I was unhappy with the rent amount. But apparently they deemed that incompetence. Was a bit annoyed the tenant sent me crappy texts over something dumb when so advantaged with their rent cost, an example of the reflexive landlord bashing seen in threads like this. I do wish people would man up and buy their own property if they hate Landlords so much.

      • JimB on 19/01/2022 - 13:03
        +5

        Landlord may little to no loan so savings on interest is minimal but council rates is increasing land tax has gone up substantially due to rising valuations.

        My tenants moved in 2 years ago and unfortunately I will raise my rent by $10 a week when the lease finishes soon. Due to the above costs, my gross rent is higher but my net rent is lower than 2 years ago.

        • Ghost47 on 19/01/2022 - 13:29
          +1

          So in the end it’s really just people who live in a PPOR and renters who suffer from rising rates and not landlords?

          • JimB on 19/01/2022 - 14:05
            +2

            @Ghost47: Depends on the size of the landlord's loan.

            Winners of rising rates are the retirees and savers.

            End of the day, rent, just like other consumer goods price will be based on supply and demand and what the market will bear.

            • Ghost47 on 19/01/2022 - 14:13
              +3

              @JimB: Oh when I said rates I was referring to council rates, not interest rates (which I think is what you were referring to?).

              I get that rent is subject to the laws of supply and demand but it’s just interesting to me that landlords don’t seem to be willing to absorb cost increases, especially when their property has likely increased in value (and as such land tax has gone up). Have your cake and eat it too I guess?

              • JimB on 19/01/2022 - 14:20
                +6

                @Ghost47: Just because the value of the property has increased doesn't mean the cost of holding and maintaining the property hasn't also increased.

                You can't spend or live off the capital gains until you sell it.

                End of the day, unfortunately Landlords aren't charities. I get there are some scumbag landlords, but also pretty decent ones. Even the decent ones increase their rent once in a while.

    • kittymtd on 19/01/2022 - 13:25

      Not bitching at all, just asking if it's a reasonable increase as I've never had such a large increase in one go. If I could I'd just buy a place so I wouldn't need to deal with renting.

      • Ghost47 on 19/01/2022 - 13:30
        +14

        It’s sad you’re getting so much hate here tbh. Your question might be a little inconsiderate but there’s no need for the whole “tenants who question rent rises should be kicked out” comments, seriously that’s basically treating humans worse than dogs.

        Landlords are in a good position to be able to own an IP yet they will still find a way to cry about it.

        • kittymtd on 19/01/2022 - 14:01
          +1

          Exactly. I'm saving up so I can one day own my own place and not have to worry about 12 month lease renewals. If I ever have an investment property, I'll treat my tenants well if they treat the place well.

          • brendanm on 19/01/2022 - 14:10
            +8

            @kittymtd: Hasn't your landlord treated you well, by having zero rent increases for five years? As someone pointed out above, averaged over the 5 years, the rise is lower than inflation.

            • kittymtd on 19/01/2022 - 14:19
              +1

              @brendanm: Yeah that is true. Just wasn't sure if the rental market was still increasing or not because I'd heard it stagnated recently.

              • brendanm on 19/01/2022 - 14:43
                +1

                @kittymtd:

                Just wasn't sure if the rental market was still increasing

                You've said yourself that it seems in line with the market.

          • JimB on 19/01/2022 - 14:13
            +8

            @kittymtd: It may not seem like it, but a $30 p.w. rent increase after 5 years, of which is still according to you below market rate, is IMO still treating your tenants well.

            You'll be cutting off your nose to spite your face if you move out.

            • kittymtd on 19/01/2022 - 14:21
              +1

              @JimB: $380 seems to be in line with market rates for the property's features. Not considering moving out, just wanted confirmation that it seems reasonable.

              • JimB on 19/01/2022 - 14:27
                +2

                @kittymtd: Above, you said and I quote 'Looking at other available rentals in the area, I'd say it's below market rate.'

                While I feel for you but end of the day rent increases are inevitable.

                What I suggest is that you ask the agent to contact the landlord to pass on a message- you have been a good tenant and would like to kindly request to reduce the rent increase by $10 per week. Hope for the best, the worst they can say is no.

                • kittymtd on 19/01/2022 - 14:31
                  +1

                  @JimB: That is true, I've asked if the landlord would consider $370 a week, so a $20 increase instead. If they say no, then all good.

        • tsunamisurfer on 19/01/2022 - 14:11
          -1

          seriously that’s basically treating humans worse than dogs.

          Humans, those blessed with cognitive thinking and wherewithal, would not question a $30 increase over a 5 year span.

          Ask anyone in today's market 'Would you be happy with a $30 increase ($350 base) in rent over 5 years', what do you think the majority would say?

          • Ghost47 on 19/01/2022 - 14:14
            +6

            @tsunamisurfer: Mind boggling how rude you’re coming across really.

            You can’t just educate the OP like I did with the first reply to this thread, you simply have to bash them. Like why?

          • RatBargain on 20/01/2022 - 14:41

            @tsunamisurfer: Bit harsh but true. Hell, I can’t talk. Rats never pay rent

      • tsunamisurfer on 19/01/2022 - 14:08
        -4

        Not bitching at all, just asking if it's a reasonable increase as I've never had such a large increase in one go.

        To even consider whether it is reasonable is bad enough.

        You are just focusing on $30 without thinking about the time frames?

        Would you rather that the landlord staggered increased by $10 2 years ago, another $10 last year and another $10 this year?

      • afah0447 on 20/01/2022 - 08:30

        Stop voting for the LNP then!

        • kittymtd on 20/01/2022 - 10:03
          +3

          Never have voted for them and never will.

  • pharkurnell on 19/01/2022 - 12:27
    +8

    so over 5 years now and current lease is ending in March. The rent has stayed at $350 per week since we moved in

    and your complaining about 30 bux more ??

  • KaTst3R on 19/01/2022 - 12:54
    +2

    Not sure what your suburb is but $380 seems pretty in line with the current market rental rate for a 3BR. Did a quick search on Cranbourne and it says $380, looked at Frankston it is above $400. So it is a fair deal for both parties. You have a choice to leave, but you might struggle to get anything cheaper.

    • dtxau on 19/01/2022 - 13:25
      +2

      City of Casey/Narre Warren/Fountain Gate area is also below market rate based on a quick search on Domain

    • kittymtd on 19/01/2022 - 14:03

      Thanks for that, doing a search of rentals in the area it seems pretty on par.

    • [Deactivated] on 22/01/2022 - 07:42

      2br units in SA are $320-385 a week

      I can't find a 3br, unless it's a total dump. The cheapest $350-370, nearly unlivable.

      That's within 20-25kms of CBD, if you push out much further out should be more options.

  • Brodo Faggins on 19/01/2022 - 13:03

    Very reasonable. Try $50 increase after a couple years no increase.

  • CyberMurning on 19/01/2022 - 13:11

    agree. its okay for me. its landlord market nowadays.

  • life is suffering on 19/01/2022 - 13:58
    +1

    When you compare Brisbane rentals ( shit houses) quite cheap imo

  • netjock on 19/01/2022 - 14:14
    +2

    You haven't had a increase in 5 years? You got a bargain.

    But it also depends on what you mean SE of Melbourne. If it is way outer metro almost non Melbourne then maybe not. Suggest you look locally and see what similar properties are going for.

  • SimAus007 on 19/01/2022 - 14:39
    +1

    $30 PW is very reasonable if it hasn't been increased in 5 years.

  • jv on 19/01/2022 - 14:42
    +2

    Is a $30 Rental Increase Reasonable?

    Yes, it's cheap.

    8.6% increase

    Over 5 years, that is 1.7% per year.

    less than inflation…

  • cosmicjul on 19/01/2022 - 15:09
    +1

    In the house I live in, our rent has increased $150 in 18 months ($500-$650) I think your $30 is just fine. I’d kill for $30 in five years, considering we will probably see another $100 jump in 6 months time when it is eligible again.

    • cosmicjul on 19/01/2022 - 15:09

      I also don’t live in a city

    • Big Lenny on 19/01/2022 - 15:20
      +6

      you're getting shafted

      • pharkurnell on 19/01/2022 - 16:29
        +2

        Lady in our shitney office said they are paying 800 in shitty campbelltown region! Nobody is being ripped off more than them.. they'd have to pay me 800 to live there.!

    • SimAus007 on 19/01/2022 - 15:23
      +2

      $150 over 18 months on the original $500 rental rate is definitely not reasonable :/

      • tsunamisurfer on 19/01/2022 - 16:26

        There is no reasonable or unreasonable.

        There is only what the equilibrium price struck is.

        If there are another 9 people in the queue of prospective tenants willing to pay $650 then who is the unreasonable one holding onto $500?

        • SimAus007 on 19/01/2022 - 16:51

          There is no way this scenario exists unless it's someone living in Sydney, based on skyrocketing property prices in most inner-city suburbs.
          In Melbourne, I own 2 properties and the rental prices across the board have either been stable or in most cases, have dropped over the last 12 months, I know an investor who had to accept a $190 decrease in their rental income to get a tenant, many will allow you to negotiate a lower rent currently, given the market conditions.
          All about supply and demand, as per your point.
          I don't disagree with your point, I'm referring to current market conditions in housing.

          • cosmicjul on 19/01/2022 - 17:19
            +1

            @SimAus007: I just went back to my original lease agreement signed 28/8/2020 and we signed on for $500 a week. My partner had already lived in this house for 2 years at this point and had only seen an increase of approx $20 during this time. On the 28/2/22 our rent is going from $550 to $650 and we are expecting the real estate to increase another $100 in August. It’s just the state of the market on the Sunshine Coast because of lack of housing and the flood of people moving here. It’s extremely unreasonable and but we literally cannot find anywhere else.

            • SimAus007 on 20/01/2022 - 09:04

              @cosmicjul: That's incredible, I had no idea this situation existed on the Sunshine Coast. I was aware of this in Sydney but hadn't heard of this so much in other markets with the current conditions.
              Ouch!

              • cosmicjul on 20/01/2022 - 11:18

                @SimAus007: It’s all insane, considering we have 1 somewhat major shopping centre and literally nothing else to do here but the beach. I don’t understand it.

            • kittymtd on 20/01/2022 - 10:04

              @cosmicjul: That is so crazy. Is it a lot of people moving from Victoria and NSW?

              • cosmicjul on 20/01/2022 - 11:18
                +1

                @kittymtd: 100%. My partner works as a tradie in peoples homes and every second house he goes into the person says something along the lines of ‘we just moved here from Sydney/Melbourne’. Makes it very difficult for us young-ens to find somewhere to live, if there even are any rentals.

                • Ghost47 on 20/01/2022 - 13:47
                  +1

                  @cosmicjul: I feel like the people who moved interstate have done so as a knee-jerk reaction. Going to be interesting to see if they stay there long term after the shine wears off.

                  • cosmicjul on 20/01/2022 - 14:23
                    +2

                    @Ghost47: Everyone came up when we had no Covid, no restrictions, but Qld is having higher case days than vic now (sometimes) and it’s so hot here atm so I can definitely see a lot of people regretting their decision. Especially because there is nothing to do up here lol

                    • Ghost47 on 20/01/2022 - 14:40
                      +2

                      @cosmicjul: Seems to me like a very short sighted decision. Going to be hilarious when/if those people end up moving back.

                      I’m sure there are things to do there too, but it won’t be the usual things that they normally do so they’ll end up missing the city they left.

          • tonka on 26/01/2022 - 12:31

            @SimAus007: There's many places with a more heated market than Sydney.

      • Korban Dallas on 20/01/2022 - 23:53
        +2

        Yes and no.

        Our investment has gone from 560k to 860k in 3 years.

        From a renter standpoint yes unreasonable.

        From investment side no, it's the current market.

        We like our tenants and are only going for a $50 per week increase.

        But in fact we could be getting probably $200 more.

        Some landlords are a bunch of greedy pricks too.

        • Eeples on 21/01/2022 - 14:31

          Why would you increase the rent at all when your capital investment has gone up and your costs (paying back an investment loan/insurance/real estate fees etc) have remained largely the same?

          • Yola on 22/01/2022 - 18:45

            @Eeples: Because investing is about getting the best return you can. Korban Dallas is already not maximising his returns.

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