Society/Culture Landlords - What is the point?

[Evolved1]

Sure enough, handed the keys back today, it's already been listed for 3 days (!) and the available date is Monday the 5th. Must be a quick reno to have it done in a weekend.

$50 more than my last lease, $150 more than 2021.
Scammers, hope it sits empty for months

Correct me where I'm mistaken.

You were given 2x12 months (total 24 months) at the same price before a 22% rental increase. That seems more than reasonable.

After that, you were given 6 monthly leases that were allegedly offered so rent could be increased in line with interest rates, something you deemed unfair. Again, that change seems entirely reasonable on part of the landlord.

Why should rent remain constant in the face of frequent RBA interest rate rises?

You whinge an awful lot about reasonable expectations of a tenant. Theoretically (as your landlord) I'd be looking to move you on if you whinged that much.

Tbh, I wouldn't offer you a new lease either. You seem like a Karen.

 

[TheBigHorne]

Correct me where I'm mistaken.

You were given 2x12 months (total 24 months) at the same price before a 22% rental increase. That seems more than reasonable.

After that, you were given 6 monthly leases that were allegedly offered so rent could be increased in line with interest rates, something you deemed unfair. Again, that change seems entirely reasonable on part of the landlord.

Why should rent remain constant in the face of frequent RBA interest rate rises?

You whinge an awful lot about reasonable expectations of a tenant. Theoretically (as your landlord) I'd be looking to move you on if you whinged that much.

Tbh, I wouldn't offer you a new lease either. You seem like a Karen.

Nothing like potentially making someone homeless because they dare disagree with the landlord.

 

[kickazz]

Risk and reward, like most things in life...

What do you mean? How does that relate to property investment being a waste of taxpayers' money?

 

[kickazz]

Reining in Airbnb would help too.

They contribute significantly to increased rent and homelessness. And how legal is it anyway to operate a commercial venture on residentially zoned land?

 

[owen87]

You were given 2x12 months (total 24 months) at the same price before a 22% rental increase. That seems more than reasonable.

Has income gone up by 22%?

If not, it's not 'more than reasonable'.

 

[kickazz]

You whinge an awful lot about reasonable expectations of a tenant. Theoretically (as your landlord) I'd be looking to move you on if you whinged that much.

As Australia becomes more and more like Europe (that is, renting becoming a lot more commonplace due to purchasing being unaffordable) the laws around renting will tip further and further in favour of the tenant, like they do in Europe.

So the reasonable expectations of a tenant will go up accordingly. Moving people on will become harder.

 

[Seeds]

Reining in Airbnb would help too.

They contribute significantly to increased rent and homelessness. And how legal is it anyway to operate a commercial venture on residentially zoned land?

You get these attacks on airbnb are derived from corporate hotel lobby groups propoganda right? they want to maintain their iron grip on the tourist market. You are falling for it.

homelessness and high rents (when they exist) are born out of poor government policy regarding housing, education and welfare. It had nothing to do with airbnb which provides a significant benefit to society.

 

[kickazz]

You get these attacks on airbnb are derived from corporate hotel lobby groups propoganda right? they want to maintain their iron grip on the tourist market. You are falling for it.

homelessness and high rents (when they exist) are born out of poor government policy regarding housing, education and welfare. It had nothing to do with airbnb which provides a significant benefit to society.

Who cares who is behind the attacks, they are right.

Hotels employ people. There is an understanding in society that hotels may be busy / a bit noisy at night because they are commercially zoned. If I lived in a quiet neighbourhood only for next door to become a revolving party house I'd be ropable.

Airbnb do provide a benefit, and I'm happy using them for genuine BnB style accommodation. But what has been happening in Manhattan is no good, instead of a benefit to society it is a detriment. Empty apartments = less revenue for local businesses and no good for the economy.

 

[burge13]

Who cares who is behind the attacks, they are right.

Hotels employ people. There is an understanding in society that hotels may be busy / a bit noisy at night because they are commercially zoned. If I lived in a quiet neighbourhood only for next door to become a revolving party house I'd be ropable.

Airbnb do provide a benefit, and I'm happy using them for genuine BnB style accommodation. But what has been happening in Manhattan is no good, instead of a benefit to society it is a detriment. Empty apartments = less revenue for local businesses and no good for the economy.

Who gives a * what happens in Manhattan though?! A nation of gun weilding lunatics who arent in even favour of Medicare. Play stupid games, win stupid prizes...

No one is forced to live in Manhattan either. If people are seriously paying 2k a fortnight for a studio rather than moving. Thats on them. The place isnt that nice

 

[kickazz]

Who gives a * what happens in Manhattan though?! A nation of gun weilding lunatics who arent in even favour of Medicare. Play stupid games, win stupid prizes...

No one is forced to live in Manhattan either. If people are seriously paying 2k a fortnight for a studio rather than moving. Thats on them. The place isnt that nice

Business owners in Manhattan? People who have lived there all their life?

Just providing examples of what can go wrong.

 

[burge13]

Business owners in Manhattan? People who have lived there all their life?

Just providing examples of what can go wrong.

You're on an Aussie footy forum. I meant who cares in this context. Its not apples to apples with any city here in any way

 

[kickazz]

You're on an Aussie footy forum. I meant who cares in this context. Its not apples to apples with any city here in any way

OK so you like to keep discussions narrow. Good to know.

 

[burge13]

OK so you like to keep discussions narrow. Good to know.

Relevant, yes. Yours is an odd tangent

 

[Maddo11]

After that, you were given 6 monthly leases that were allegedly offered so rent could be increased in line with interest rates, something you deemed unfair. Again, that change seems entirely reasonable on part of the landlord.

Why should rent remain constant in the face of frequent RBA interest rate rises?

Has the interest rate gone up so high to make a $150p/w difference to a house that according to domain sold for 290k in 2018? I'll be generous and estimate they may have got ripped on the land (pine river area Brisbane) but it's not a big block, the house takes up the whole block. Let's say they're in for 550k and haven't paid anything off in the last 5 years when the rate has been ~1%. That's still not close to $600/m.

The only time I ever bugged the owners for anything was a ceiling fan in one of the bedrooms before our first child was born, asked about 4 months ahead of time, and the owners finally complied when bub was about 3mth old. Certainly not a "Karen". Prick.

 

[owen87]

Tangentially related

 

[Maddo11]

Tangentially related

Wowee, needing 181k p/a to service a $500k loan

*ity doo i need to change career

 

[Seeds]

Who cares who is behind the attacks, they are right.

Hotels employ people. There is an understanding in society that hotels may be busy / a bit noisy at night because they are commercially zoned. If I lived in a quiet neighbourhood only for next door to become a revolving party house I'd be ropable.

Airbnb do provide a benefit, and I'm happy using them for genuine BnB style accommodation. But what has been happening in Manhattan is no good, instead of a benefit to society it is a detriment. Empty apartments = less revenue for local businesses and no good for the economy.

Airbnb provides a massive benefit for people who can enjoy holidays at a more reasonable price. This increases the purchasing power of ones wage. Being able to provide a service more cheaply then an alternative also boosts real economic growth and reduces inflationary pressure. You ban airbnb today you further add to supply side inflation.

If airbnb didnt exist there would eventually be more hotels clogging up key neighbourhood space rather then airbnbs and hotels are much more inefficient with their use of space. it wouldnt improve the housing problem in the medium to long run and and could make it worse. hotels do provide more direct jobs then airbnb but they are jobs that society dont need. The way to improve societies standard of living is to reduce the amount of workers you need to do a task and reduce workers doing tasks that people dont want like cleaners who clean your hotel room everyday. Most vacationers dont need this. when there are less workers required for holiday services then this creates more free workers to do other tasks which expands an economies output and increases workers real purchasing power.

now you are right that empty airbnbs makes things worse. But empty airbnbs dont earn money and thus wont last long. there arent that many airbnbs in manhatten anyway. I tried looking earlier in the year. There was hardly anything compared to other cities.

 

[Nuggs Bunny]

Airbnb provides a massive benefit for people who can enjoy holidays at a more reasonable price. This increases the purchasing power of ones wage. Being able to provide a service more cheaply then an alternative also boosts real economic growth and reduces inflationary pressure. You ban airbnb today you further add to supply side inflation.

If airbnb didnt exist there would eventually be more hotels clogging up key neighbourhood space rather then airbnbs and hotels are much more inefficient with their use of space. it wouldnt improve the housing problem in the medium to long run and and could make it worse. hotels do provide more direct jobs then airbnb but they are jobs that society dont need. The way to improve societies standard of living is to reduce the amount of workers you need to do a task and reduce workers doing tasks that people dont want like cleaners who clean your hotel room everyday. Most vacationers dont need this. when there are less workers required for holiday services then this creates more free workers to do other tasks which expands an economies output and increases workers real purchasing power.

now you are right that empty airbnbs makes things worse. But empty airbnbs dont earn money and thus wont last long. there arent that many airbnbs in manhatten anyway. I tried looking earlier in the year. There was hardly anything compared to other cities.

Seeds, do you ever wonder what the BnB in AirBnB means?

 

[Seeds]

Seeds, do you ever wonder what the BnB in AirBnB means?

I cant say that i have. Have you ever wondered this?

 

[Evolved1]

Nothing like potentially making someone homeless because they dare disagree with the landlord.

The landlord is involved in the transaction for the sole purpose of profiting on their investment. Homelessness is a government problem.

 

[Evolved1]

Has income gone up by 22%?

If not, it's not 'more than reasonable'.

Rental rates aren't dependent on average income increases. I dare say some of the generous covid exemptions for tenants have pushed more landlords out of the market, so you're left with a deficit in supply.

The prevailing view here is completely wrong imo. You guys want the ledger pushed even more in favor of tenants rights; a reasonable pushback from landlords is to increase rent.

You want landlords to take on more risk without being compensated for doing so.

 

[Gethelred]

Seeds, do you ever wonder what the BnB in AirBnB means?

Don't mind Seeds. He's in a 'fox in the henhouse' mood at present.

 

[owen87]

Rental rates aren't dependent on average income increases. I dare say some of the generous covid exemptions for tenants have pushed more landlords out of the market, so you're left with a deficit in supply.

The prevailing view here is completely wrong imo. You guys want the ledger pushed even more in favor of tenants rights; a reasonable pushback from landlords is to increase rent.

You want landlords to take on more risk without being compensated for doing so.

Nothing you wrote has anything to explain how a 22% increase in rental price is ‘reasonable’ let alone ‘more than reasonable’.

 

[TheBigHorne]

Nothing you wrote has anything to explain how a 22% increase in rental price is ‘reasonable’.

It's because the EVIL tenants are oppressing the poor and starving landlords. With 2 dollars, you can make a donation to your struggling local landlord.

 

[Nuggs Bunny]

Dude, you're so close to getting it

Homelessness is a government problem.

You guys want the ledger pushed even more in favor of tenants rights

Not sure what you think the end game for investors is going to be but on current trends homeowners are likely to be outnumbered by renters in the next couple of decades so I hate to break it to you about where the ledger is going to end up.

All those amateur mUm aND dAd investors being allowed to make terrible investments and pass their gambling losses onto tenants and the taxman have literally ****ed it for everybody else.