Give renters a break, landlords warned..!!

@#$%%^^&^&*%$@# !!!!!!
cry me a river !!!!!
we had such poor returns a few years ago, ITS OUR TURN NOW !!!!
I'm still paying for $1500 damage my last tenants did to the house !!!
(The children of friends, believe it or not) maybe my tenants should have had consideration of me !!!
 
There was a period of a few yrs not so long ago we were lucky to increase the rent by $5/wk. I dont feel like im doing anything wrong by my tenants at all. Like all ready mentioned, its our turn in the cycle at the moment. Im sure it wont last forever and there will be periods in the yrs to come where we are lucky to get the $5/wk again. I'll take what I can for now.

Jayro
 
Hi all, greedy landlord here with my repsonse to this cracker of an article:

Marketing and Operations Manager Carolyn Majda said unreasonably high rent increases could cause angry departures of reliable, long-term tenants.

Not if I'm in line with the market rate, especially since one of mine is literally the cheapest you can rent in the capital city. Where will they be moving when I put the rent up next month, and again in another 6 months?

Ms Majda said it took an average of four to six weeks to relet a rental property, during which time the landlord is unlikely to be receiving a rental income.

Yes, because I know I wait until the tenant has moved out before I start advertising for a new tenant! :rolleyes:

The reminder comes after rents hit record highs around the country, and startling figures showing renting battlers are doing it tougher than ever.

Well of course rents hit a record high! On another matter, shampoo has hit a record high this year, so have a million other consumer items! That's what generally happens, prices go up, not down (unless you can find a way for China to do it cheaper).

More than a quarter of low-income renters sometimes go without food and 42 per cent of low-income renters cannot afford school excursions, a report released yesterday by the Australian Housing and Urban Research Unit found.

That's ok, cigarettes are decreasing in price so they can have a few smokes instead of a meal...... What's that? Cigarettes aren't decreasing in price? Then why can they still afford to buy them??!! Isn't food more important?!

The HIA said the Federal Government’s proposed National Affordability Rental Scheme, which aims to build 50,000 new rental properties across the country, would ease the strain facing renters.

For about a year or two, assuming of course they were all completed next week. Wonder how long it takes to plan for and build 50,000 houses?

ok, ok....

Above is probably a bit harsh, but you know - f*^$ it! How often do we get bagged!?!
 
"More than a quarter of low-income renters sometimes go without food and 42 per cent of low-income renters cannot afford school excursions"

They can still afford the new Plasma, a packet of cigarettes and a 6 pack though.

Cheers,

Bazza
 
What are they going to do? Not rent? Maybe they could all stage a protest and live in tents in the nearby parklands and not pay rent that way.

I can appreciate the value of a good tenant, but my rental house is not a charity, its an investment.
 
Gosh, I've had sooooooooo many years of -ve gearing, supporting renters who can afford new cars, plasmas, trips off interstate to see shows and reles, etc, over the years. I don't get these doodads!

And all that in addition to "can you fix this", "can I have that", "I want an additional airconditioner", "sorry, it broke", "could we have it repainted" gosh...I've spent thousands and thousands of dollars over the past 5 years, to keep properties in good nick, appealing and comfortable for the tenants. This year already, I've put in 2 additional split-system aircons in the second bedrooms for tenants....I don't even have aircon in my PPOR!

And renters think investors take them for granted...HELLOOO...I DON'T THINK SO.

So, I've raised my rents (well most of them anyway) to market or just-under market rates. I think I've been fair and reasonable...now it's my turn to recoup some of my hard-earned investment dollars....and maybe by the next hot & humid wet season I'll be able to have aircon in my bedroom!

PS I'll bet the journo who wrote the article isn't a LL!
 
Well, the nice lady in the article said “Sure cover your costs, but don’t take advantage of things like rate rises to raise the rents higher than really is needed,”"... Mhh, given that my yield is about 5% and interest is 8% plus my rates etc. all I have to do is double the current rent and then I promise not to raise rents unreasonably after that - I'm with her!

kaf
 
Ms Majda said it took an average of four to six weeks to relet a rental property, during which time the landlord is unlikely to be receiving a rental income.

Huh? What planet is she from?

She said the lure of higher rental returns needed to be balanced against the "importance of keeping good tenants".

Although landlords would want to take advantage of low vacancy rates, Ms Majda said there had to be a point when struggling tenants reached breaking point.


And if the current tenants can’t pay, someone else will. As evidenced by the almost non-existent vacancies between tenancies.

“Sure cover your costs, but don’t take advantage of things like rate rises to raise the rents higher than really is needed,” she told NEWS.com.au.

Mate, the tenants would have to pay a LOT more to cover all my costs. I’m letting them off easy.

More than a quarter of low-income renters sometimes go without food and 42 per cent of low-income renters cannot afford school excursions, a report released yesterday by the Australian Housing and Urban Research Unit found.

Stop spending money on beer, cigarettes and pokies, then.

The Housing Industry Association’s national housing outlook yesterday said more than half a million rental households paid more than 30 per cent of their income on rent.

I spend more than 30% on my mortgage. What’s your point?

HIA said low and lower middle income rental households were under increasing financial strain and stress, fuelled by a shortage of investment in rental properties.

“High government costs on new home building, the high cost of land, and the excessive regulatory burden … make investing in new residential property an unappealing option,” the report said.


Give us landlords more incentive, then. How about allowing a 200% depreciation deduction?
Alex
 
Can't see the government going for that, Alex, but it would be a great idea.

Honestly, what do these people think pays the mortgages on the houses that tenants live in? Fresh air??? Good intentions???

We recently put up the rent on one IP by a lousy $20 pw (it's still under market rate), and the tenant bleated loudly. My response? "Feel free to move if you don't want to pay the extra." :D Funnily enough, she's still there .....

Cheers
LynnH
 
Can't see the government going for that, Alex, but it would be a great idea.

They have the ability to, if they wanted. If they can halve CGT for investments, cut CGT for PPOR and so on, then they can certainly fiddle with the depreciation deductions. The government knows if they gave landlords more tax breaks, etc. it'll increase the supply of IPs. Politically, though........
Alex
 
Hang on, hang on.....


What's all this whinging and bleating and venting about. Leave the hapless ol' tenants alone. They are just trying to make their way in the world and keep a roof over their heads. Stop picking on them.


What happened to all of the good folk with the "don't worry about the cashflow side of things....just keep thinking about the BIG PICTURE".


This turn of events and show of emotion must mean the lack of cashflow is starting to bite more than people are generally willing to portray.


What's the scoop guys ??
 
This turn of events and show of emotion must mean the lack of cashflow is starting to bite more than people are generally willing to portray.

What's the scoop guys ??

Actually my cashflow is better - fixed rates and increasing rents and income. I just get tired of these articles and decided to have a rant. I am an evil lanlord after all. :D
 
We live in a capitalist society where supply and demand rules. Rents going up in this economic environment is just a part of living in a capitalist society.
 
I think Dazzling was right :) … And there "are" tenants who do not blow all their wages on beer & smokes (a lot, l ike my tenants (unlike me), don't smoke) and are finding it hard to get by… A number of them yes, were finding it hard to eet by anyway but get lumbered into the same statstics that's true, but I know pple who are struggling & they are good honest don’t piss their pay away family people… If my mother had to rent, she couldn’t affort it…...Whinging about pple like who blow their pay on msokes & beermakes it sound like you picked the wrong types of tenants for your properties, OR if they are the only types of tenants for your propertie, then it sounds like you got into a business type where you don't like your customers.. Hence, the wrong business so to speak….If you don't like animal , don't work as a vet / if you don't like working with kids don't be a teacher/child carerc etc.. .is this any different ! When did anyone say rents woul cover all our costs of keeping properties ? of course you would have to raise your rent a hell of a lot more to cover all the costs… Miy place has gone up $90 / wk in less the last 3 and a bit years, it would still have to go up another $100 /week+ to cover all my costs.. .but then my fixed interest term will be over & costs my increase, so I'll be behind the 8 ball again… so I don’t think that is worth chasing
 
My view is the Gov needs to speed up the approval process ... attack the skills shortage of trades and reduce the taxation on property ownership / construction.

And they should deliver all this along with the Easter Bunny delivering chocolate eggs this Easter :p
 
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