Unwarranted rent rises

Picture this. Landlord owns over 100 units. Has done so for more than 50 years.
Easily bringing in over one million 800 thousand dollars a year.
Over 50 years, how much would have been accumulated?
Notice of rent rise each year. This time $100 a week.
Anyone out there tell me how the constant rent rises can be justified?
Remember, currently bringing in $1.8 million a year.

This page is a permanent link to the reply below and its nested replies. See all post replies »

OlderSometimesWiser · F

Don’t know a lot about economics but I guess it’s what the market will bear. But holy crap, I grumble at $100 a MONTH increase!

Gusman · 61-69, M

@OlderSometimesWiser What is happening here in Australia, some landlords are increasing rents by $300 a week. The poor tenants are made homeless because they cannot afford such increases. There is no law to stop such increases.
Pure greed has destroyed the Australia Housing Market.

OlderSometimesWiser · F

@Gusman That is just awful. I hope there comes a time when laws are passed to stop such insanity!

Gusman · 61-69, M

@OlderSometimesWiser That will never happen. Governments are not interested in stopping the rorting.
Even if they were to try, many, many landlords would sell the rental property leading to fewer homes to rent in the market.
Forcing up rents.
Many landlords and real estate agents are vicious, selfish people.

OriginalNedKelly · M

@Gusman Some rentals people are paying a couple of hundreds above the rental market price

Gusman · 61-69, M

@OriginalNedKelly That was the only way they could win at the rental lottery.
Pay above the rate, even if it means there is less disposable income.

OriginalNedKelly · M

@Gusman It is a nightmare for anyone that is renting - sorry to hear about your situation