Last year, our property agents slapped us with a $100/wk rent increase. This year they tried for a $115/wk rent increase. We managed to negotiate them down to $85/week both times, but that’s still $4,420 increase EACH YEAR. We looked up our (3 bedroom) house – it last sold in the early 90’s. The house is surely mortgage-free, so I struggle to see how these rent increases – for good, long term tenants (5 years) – are anything other than pure greed. Oh – and the last time they came to the house, our housemate was going through chemotherapy. The owners met her & were all, “so sorry” when they were here. Then slapped us with a $115/week rent increase email. Soulless f***ing monsters. Rent increases need to be tied to wage growth, interest rates or something in the real world that isn’t “because I can” so there’s a reasonable cap on these financially cripping increases.
