A Qld Real Estate Agency Told Landlords Now Is The Perfect Time For A 20% Rent Hike

A Brisbane real estate agency has urged landlords to raise the rent of tenants by 20 per cent because now is apparently the perfect time. Someone get me some AJAX so I can eradicate this scum. Ray White West End sent an email to landlords which asked if their properties were “under-rented”. It then went on to suggest they increase their properties’ rent by more than 20 per cent. FYI, inflation is about 6 per cent. Bit of a discrepancy there. “Many landlords are not being provided with the information to make an informed decision,” the email read, per Guardian Australia. It then noted some landlords had been advised to only raise rent by only

“Our property managers have been reviewing all our lease renewals and on average recommending a 17 per cent rent increase on the leases renewed in October and November this year,” the email said.

“As we are planning December lease renewals, the average lease renewal recommendation is above 20 per cent. This can be as much as $10,000 per year in additional rental income.”

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

“If you are not achieving these rents (at a minimum), you should be asking why?”

Luke O’Kelly

“Over the past 12 months, Brisbane has had some of the strongest population growth in the country and this has most clearly shown up in rental growth,” O’Kelly said.

“Right now, Brisbane doesn’t have enough homes for those that want to live here … with rents rising so quickly, Brisbane needs more property investors.”

despite 87,000 homes in the state being emptyPenny CarrMax Chandler-Mather

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