As landlords and tenants, we are all stressing about increasing rent; it’s for a mix of commonality and various opposing reasons, sure – but the hikes in rental prices have arrived, will snowball each month and likely not settle for some time.
Solely based on available supply, even without all the shenanigans, our rents would be going up.
Regardless of how interest rates, inflation, cost of living, energy hikes and the removal of our fuel bonus affect each of us in the coming months, one certainty still and always remains; property - an available dwelling is most significant when it comes to any housing market.
Demand far outweighs supply across the residential real estate industry, and we are all hurting on the basics irrespective of individual finances. Rents will rise but by how much, what's fair and how do you figure it all out?
Is there a ceiling on rental price hikes - how many times can rent legally go up?
Australia’s states and territories each have specifics for rental increases. Each Residential Tenancies Act, landlords must meet criteria before increasing rent for a property.
Tenant and property investors are clicks away from turning fair assumptions on rental property prices to a richer understanding of an individual property’s rental value in the current marketplace.
Have a play with the Rental Postcode Tracker and if you're after some info based on tenancies for your state - scroll down after the tracker for links.
State & Territory Assistance
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Until next time and thanks for yours!