Even Australians who usually would be considered 'strong tenants' are finding themselves unable to get a rental, as property managers report the crisis is the worst they have seen.
abc.net.au/news/rental-crisis-worsens-australia-melbourne-bidding-homes/101858172When Celia McDonald was told her rent was being raised by $150 a week, she knew she had to find a new place.Low availability and the rising cost of rentals means many are struggling to find housingAgents cannot invite rent bidding, but some applicants are offering more than the listed price to secure a rental"Even if I could afford that amount, I would be in a much nicer place than what I'm in currently.
Data from CoreLogic released this month showed the median cost of a rental in Australia went up by 10.2 per centThe data also showed the rental vacancy rate in Melbourne was 1.1 per cent in December last year, compared to 3 per cent at the same time 12 months before.The shortage explains why someone such as Ms McDonald — who is a strong applicant on paper — is struggling to find a rental. She has good rental history, savings, and a full-time job as an executive assistant.
As a tenant himself, Mr Visser had been considering moving into a new rental, but has now changed his mind."I would consider myself a strong tenant, but I still wouldn't risk moving in this market."A few years ago, he noted, it was around five to 10 "for a reasonable quality home".Some applicants were offering higher than the advertised rent, he said, which could result in prices being pushed up for everyone.
"We do have some of the most progressive rental laws in Australia but, when it comes to calculating rent increases, our rental laws and regulations have nothing to say," Ms Farouque said.
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