G'day bargainers,
just got a letter from the RA advising my rent will increase from $1430 fortnight to $2500 a fortnight. That's almost 75%
Now, I understand I had a good rate due to Covid, but 75% increase? I was expecting 40-50% increase tops. Is this legal?
Any advise on how to negotiate with the RA to bring the rent down? I'm almost having a panic attack here with the huge increase.
Thank you.
Oh and you can use 4G phone/data SIMs or plans for internet. I'm currently living in a house, phone copper was ripped out several years ago, no NBN installed. I've been using 4G phone SIMs for internet most of that time.
@Homr
"Where you can buy a home in Melbourne for less than five years ago - The Age
www.theage.com.au › property › news
19 Mar 2022 · The median unit price in Melbourne's CBD is now $510,000"
You can buy an apartment in Melbourne CBD for half a mil and the mortgage payments will be like half what you're going to be paying in rent.
Can't you do the same in Sydney ? Why rent when you can buy for less ?
Strata is a mortgage payment for life.
Not really, maintenance costs, rates, insurance etc for a independent house quickly add up to more or less strata costs, give or take a 1-2k per annum
1000$ for a 3 bedrooms apartment at World Square Sydney CDB was the price 5-7 years ago, nothing special. A group of people (3-4 people I guess) join to rent, so each shares 330$ per week , they are not rich by any stretch.
If you can't negotiate, I guess you should accept the fact that you can't afford to live in Sydney CBD
Man, I feel for you. I lived in Central park and then later World tower in the CBD. I moved out in OCT 2021 last year and I cannot believe how far prices have gone up in rent. To be fair I was paying $500 for a studio but I think I'd be lucky to be able to pay that now. You existing deal in Darling Square is really good, if you're not interested in sharing then maybe look towards a studio or 1BR and learn to utilize vertical space. When I lived in my studio I managed to just find ways to store things (assuming you have a lot of stuff) other wise it shouldn't be too difficult for you I think. Most of the time I was only at home to sleep most of the other time I was out with friends or working etc. I do miss the CBD location but just too unaffordable at the moment especially with my mortgage having gone from $2000 to $3000 now. Maybe consider Zetland or Pyrmont or Greensquare? These would be areas that would be just as attractive I think.
Thanks
I'm looking to move to 1BR ,1 car space with a Budget $700 and even that is limited in the CBD
damn….and i thought me increasing my tenants rent by 7% was steep….
for situations like this, there is only one way to find out .. give it a try.. ask..
Australia as a country is finished. This is the end result of globalisation.
…lets bump up immigration to fix all our problems!!!
Investor has (profanity) it with interest rates.
They're currently in bargain phase of grief. Given the attitude of most Australian buy-to-let 'investors' this is what will happen.
Purchased overvalued on an FI's 2.5% spreadsheet. Realise that come fixed-rate expiry time the interest payments are more than most people's post-tax take-home.
Pass Australian properties collective poor decision making into tenants and try to stay rich.
Sick.
I don't know about legal, but supply and demand - if the price is too unreasonable then maybe they won't find tenants?
I know I bought in January (before inflation was a prominent headline). My mortgage repayments have gone up 43% in that time, so maybe its the same for the people that own the house you live in?
Other countries have rent controlled homes. Think Canada, they have a policy that rent can't go up more than 5% a year depending on the home.
My rent is going to go up in May and I'm dreading that letter cause I know it's gonna go up around 50%
Did your rent drop from prepandemic levels?
2.29% to 5.59% resulted in 32% in additional repayments.
75% seems excessive
Sydney too expensive now mate
@Homr: Oh I see… sorry, I thought you were someone else asking how would he (as in YOU) do those things if he (you) lived in a van/motorohome.
He mentions all those things in that video. But other people do any combination of the other things I typed.
He built that himself, so it depends what you do and where you put things. If you plan to do it yourself, watch more youtube videos to get ideas.
Because motorhomes obviously have limited water storage, the usual way to shower with just the factory installed equipment in a production motorhome, is to quickly wet yourself down, turn the tap off, soap up and shampoo, then turn the tap back on to rinse off. The waste water goes into a "grey water tank" and has to be emptied at a "dump point." Places that sell motorhomes sometimes have dump points, lots of tourist spots, caravan parks, etc too. You can install phone apps that show the locations of dump points as well as other related things like free camping spots, whether they allow pets, have showers, etc.
Anyway, you could also buy (or make yourself) a recirculating shower. This is one where you wash the dirtiest parts like your backside first, clean your nose out, etc. Then you flip the tap to the other extreme and that first lot of water goes into the grey water tank (which has to emptied at some interval). The same few litres of clean water now gets recirculated using a pump, back through a heater to top up the heat, and goes round and round over and over so you can take a 20 minute shower if you want to using the same few litres of water. Finally, you turn the tap off and those few litres get pumped into the grey water tank too. At the end of your shower, if there was too much soap in that water, again, just a quick rinse with a few litres of fresh water.