Brisbane real estate agency advises landlords to increase rents by over 20% amid housing crisis

Photograph: Darren England/AAPPhotograph: Darren England/AAPA Brisbane real estate agency urged landlords to consider raising rents by more than 20%, as AustraliaAn email, sent by Ray White West End, asks landlords if their properties are being “under-rented” before advising them to increase rents by more than double the rate of inflation.government is set to hold a housing summit this week to deal with rising homelessness and rental stress.

The email says the agency is finding that “many landlords are not being provided with the information to make an informed decision” and are being advised to sign long-term leases with rent increase of only $5 to $20 a week.“Our property managers have been reviewing all our lease renewals and on average recommending a 17% rent increase on the leases renewed in October & November this year,” the email says.

“As we are planning December lease renewals, the average lease renewal recommendation is above 20%. This can be as much as $10,000 per year in additional rental income.” The agency claims most tenants “are agreeable” to the rent increases, saying when they “look at what is available in the market for rent, they understand” that it is “fair and reasonable.”

“On average apartments in West End/Highgate Hill/South Brisbane/Brisbane CBD are renting for one bedroom $480 - $520+ [a week and for] two bedrooms $675 - $850+ [a week],” the email says.

Source: Real Estate Daily Report (realestatedailyreport.net)

Let’s bring in more migrants to exacerbate the problem.

pue greed

ray white huh maybe its time they were fined and had their license taken from them...

Rent caps.

Involve the ACCC acccgovau that's all about profiteering The Agents Rent roll and nothing to do with the landlord or tenant. Australia needs to help their fellow man. Inflation, floods, sickness homelessness are NOT to be profited off. It must stop.

Now we know why rents have gone up, which is designed to fatten the wallets of Real Estate companies. Just pure unadulterated GREED

Scumbags

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