Rents have been going up for a few years now, just wonder how everyone's going.
What Has Everybody Done since The Start of The Rental Crisis?
niknah on 06/06/2024 - 11:08
Poll Options
- 143Paying the extra rent
- 11Moved to a shared home
- 14Moved out to a cheaper suburb
- 8Moved out to another city
- 97Purchased a home
- 7Homeless
- 3Couchsurfing
- 20Back with parents
- 267No change / home owner / still with parents / etc.
Comments
@AustriaBargain: Certainly can pick and choose
Our taxes pay for it
Im not news corp fan boy but it is a private business i got no say over what they produce the ABC is funded 2bn dollars by the Aus tax payers and it is mostly rubbish with some incredibly one sided journalist
I expect the ABC to be a higher standard in sky news but that isnt the case from what i have seen for what it is worth i watch ABC news everyday so perhaps i am its harshest critic
Also quick question you ever used realestate.com.au ?
@AustriaBargain: Just gonna say, if gov't pushes small investors out of the property market, then they will just offer more incentives to big business to get them in, which will likely push the market higher. They need private enterprise to supply the rental market, better homes at least stay in the hands of the people. Currently there are still paths to become a home owner. Not a rich mans house on a poor mans salary, but something realistic is achievable, even if you take the tax concessions available through super and go a long path.
@tonka: Delusional. Thinking that investing in existing properties is somehow stopping the bubble from getting even bigger. Property investment is a mental illness.
@AustriaBargain: I offered you nothing but my sincere thoughts. And you've been mean and tried to bring me down for no reason.
@tonka: Oh no, a renter was mean to you. You're a Land Lord right, go find your Liege Lord and tell them your feelings were hurt. Your Liege Lord is Peter Dutton tho yeah?
@AustriaBargain: I haven't heard that kind of tone since primary school. But of course I don't feel bad, it was obvious a while ago you wouldn't keep up with a proper conversation. I am blocking though, not interested in lost causes.
@tonka: Oh no if you block me then you won't read this reply, you will have won. Of course you didn't block me and I 100% guarantee you will reply to this.
One day we'll have a PM that doesn't give a damn about "property investors". Albo is already talking as if he doesn't, even if behind the scenes he probably does because he mates own a lot of properties.
Albo himself outright-owns an investment portfolio of over $5 million worth of rental properties.
The leader of the Greens owns his own property and has a rental. To avoid bad press he divested his directorship and shares in a manufacturing company to his partner, who he also separately employs and pays to work for him with taxpayer funds. One of the other Green leaders, Mehreen Faruqi, owns 5 investment properties, has commercial interests and ownership both inside and outside of Australia, has written and published books on taxpayer funded time, and is the director of her own consulting company which she uses to green-wash money and sell political access to corporate interests with.
To think any of these clowns care about you even in the slightest is completely wild. None of them are even remotely honest and are complete hypocrites.
I don't buy that taxes are 100% passed on to renters.
Doesn't matter what you want to believe, it's 100% what we as investment property owners do.
Any extra cost or tax that local, state or federal government hit us with, is immediately passed on to the tenant at the next opportunity to increase rent. The rent raise will account for costs incurred going forward, as well as any costs absorbed during the time we were waiting to increase the rent.
The reddit-adults and disney-adults out there cheering on leftist governments who introduce or raise these taxes are complete and utter morons, because all they are doing is making their own lives more miserable and throwing more of their own money away to people they have unhinged levels of hatred for. It's a form of self flagellation and it's the stupidest form of it.
Well if your renter could afford that increase anyway then don't you feel a bit silly now for not raising it to that level sooner? Or were you just feeling generous, but the new taxes made you end your generosity?
@AustriaBargain: I don't feel anything towards a renter, they are just part of a business transaction within an investment in my investment portfolio. I make my financial decisions based on yearly financial health reviews and in the context of the broader financial goals I have, within the means I have to achieve them.
There is no consideration of feelings or generosity, it's simply just a matter of balancing numbers and being financially responsible. If numbers change in a formula due to an outside influence, then other numbers within that formula will also get changed to once again obtain the figures important to the investment. It isn't about "feelings", it's just basic math.
@infinite: So if the renter could afford to pay more and had no other choice because of supply issues, why didn't you charge more sooner?
@AustriaBargain: You don't appear to understand how a lease works. I don't set the rate of rent for a lease agreement based on any renters personal circumstances or opinion. If the rent is beyond their means then they will vacate at the end of the lease and I'll place someone in there than can afford it.
Rental properties can not have prices changed on a whim, each state has a prescribed length of time before a rental increase can happen. Local, state and federal governments however can and will increased taxes or create new one's for an investment property owner to have to pay at any time they please. So when prescribed periods come to an end you raise a rental agreement by an amount that includes a number of factors, including any additional costs absorbed during a lease agreement you weren't expecting like increased inflation, additional taxation, etc….
You can't just "charge more sooner". An investment property is not a store-front where you can adjust prices on a daily basis.
Bought another house… shrug.
I share with middle class third world students. Easily the laziest and most entitled people you will ever meet. I can just picture how they live in their own countries, just drop food on the floor back home because their 50 cent an hour maid will clean it up. Lie all the time as if they think Australians will believe anything they are told and will just be confused when what they say turns out not to be true. I'd rather share with lower class third world students, might be a chance they are comfortable cleaning up after themselves and not SCREAM at their wives every single day because they hate their Uber Eats "job".
Your Greens ALP mates have upped migrarion to almost 750k bring mostly middle class 3rd world ppl here but you love the Greens? Ill note i didnt down vote you
You are charming.
Why do you keep voting for people, who for a profession import the exact type of people into this country that you openly loathe and despise ?
It makes absolutely no sense at all.
I don't loathe them, just their behaviour and attitudes. And only some of them.
My rent is 24% of my pay. I am looking for my next apartment but these are so expensive. I am definitely looking to buy my new place of residence, either apartment in Sydney or townhouse / unit in Melbourne.
Atleast it isn’t 51%, pretax, plus bills.
Will studying FT and working FT… what a time to be alive, truely.I don't think both working and studying FT has ever been easy.
I hope the studies will bring you success in future.
My investment loan monthly repayment went from $3,500 to $6500/month. I put the rent up $60/week and the tenant reportedly got a heart attack. Land tax is $5k/year on top. We don't put up the rent because we're greedy.
where is the "I raised the rent on all my investment properties." poll option?
The rental crisis for me is that yields are too low on rental properties.
Either rents need to go up sharply soon or interest rates come down.
In economics, if the yields are too low, then the property is overvalued. And in certain cities of Australia that is very true. I'd still buy in overvalued cities to live but I won't buy the same house to rent out.
Interest rates should come down shortly, but won't drop by much.
Bought an $85,000 house and got a job paying $150,000 in the same location.
Separated, sold house, lost money in separation, moved to an expensive rental. Somehow life is still much better.
"Purchased an investment property" needs to be added to the list.
Increased the rent for my tenants.. finally after 10yrs
I put the rent up on my bevy of rental properties. Cost of living only went up about 20%, but I put up my rents by about 50%. Easy money, no one can afford to move out, if they do, I just charge even more money to rent to new immigrants desperate for a place to rent. I feel like I make more money than Nvidia, difference is that I do zero work for it.
Moved to cheaper suburb. Planing to move to cheaper country.
"Planing to move to cheaper country"
probably better than boating it
.I hear the land values in Palestine are pretty low, currently.
@Trying2SaveABuck: You can't pick and choose the parts of the ABC you like. It was the whole ABC culture that got them to invest in Bluey. If the ABC were run like News Corp then there would be no Bluey. No Paw Patrol. No Playschool. The world would suck without the ABC.