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OK, so it has only been 2 days. Why rush into a new lease if it is below market rent. Is there really a lot of vacancies in the building, or only vacancies with that agent? I find it funny that they can get a new tenant in 2 days if there is a lot of vacancies. As far as the arrears go...

I think the property would probably rent for $330-340pw, but the agent has got this tenant in quickly on a lower price. The agent knows it's below market and so does the tenant. This is why the tenant accepted the extra $10 rental. If the agent does this, then it is an easy job for them...