Ironfish property managers received emails bragging about raising rents by more than $200 a week

An Australian property management company emailed tenants who appeared to be bragging about their rent increases.

Estate company Ironfish sent out a group email titled ‘Melbourne June leasing update’ last week which features two happy children jumping on a bed while arguing over pillows.

Above the image is the following text: ‘June Achievement: Highest Rent Increase – $225 per week’ and ‘Average rent increase of $98 per week’.

It’s unclear who the intended audience is with the email including both a positive review of Ironfish from a landlord’s perspective and also from a renter’s perspective.

A screenshot of the email was shared on Reddit on Saturday by someone claiming to be a renter via Ironfish.

“My rent just went up…and the agency emailed me bragging about it,” they wrote.

A screenshot of the email received by a tenant which was shared on Reddit on Saturday (pictured)

Reviewers – including landlords and tenants – largely agreed the email was inappropriate.

“As an owner and supplier, it’s cringe. If my realtor was bragging like that, I would have walked out,” one person said.

‘I also got the email and haven’t rented through them in over 6 months. Honestly thought it was a prank email at first,” said another.

“It’s just disgusting,” added a third.

“I feel like it was meant to be for the owners,” said a fourth.

Many readers have wondered if a rent increase of $98 a week could be justified, let alone $225.

Tenants are protected from 'excessive' rent increases and should contact relevant state and territorial agencies that oversee tenants' rights (stock image)

Tenants are protected from ‘excessive’ rent increases and should contact relevant state and territorial agencies that oversee tenants’ rights (stock image)

Rules about when and how much rent can increase vary by state and territory.

For example, Consumer Affairs Victoria states that landlords cannot raise the rent for existing tenants during an agreed fixed-term tenancy, unless otherwise stated in the agreement this is permitted.

Tenants must also be given at least 60 days notice.

The average house rent in Australia’s state and territory capitals jumped 16.3% to $657 a week over the past year, according to data from SQM Research released in June.

Around 41% of all renters said it affected their ability to save, including for a down payment to buy their own property.

Tenants have legal protections, including against “excessive” rent increases, though the definition varies from state to state.

As a general rule, if the increase is too different from similar market rents, if there is a significant difference from the current rent, or if the property needs repairs, it may be considered excessive.

Thanks to soaring home and unit prices over the past few years, renting remains popular with competition for a tough rental property.

The national vacancy rate for rental properties is only 1.1% of all properties. In the regions, the vacancy rate is less than 1%.

“Right now, there just aren’t enough rentals available,” said Chris Ford of Compare the Market.

“Too much demand and not enough supply are among several factors driving up prices, which means low-income tenants will struggle the most.

“An inability to save makes home ownership even more inaccessible for people who want to get out of the rental system.”

Rising gas and grocery prices are already putting tenants under pressure with rising weekly rents as landlords pass on interest rate hikes (stock image)

Rising gas and grocery prices are already putting tenants under pressure with rising weekly rents as landlords pass on interest rate hikes (stock image)

With ever-rising interest rates, increases in mortgages for investment property owners are being passed on to tenants already struggling with rising cost-of-living expenses such as gas and fuel. ‘grocery.

“Moving to a cheaper property is one possible solution, however, as the market remains tight, bargains are hard to come by and landlords are less likely to negotiate,” Ford said.

“We are still in a landlord market at the moment, and we have already seen rents increase over the past 12 months due to increased competition in tightening markets.

Each state and territory has an agency to protect tenants’ rights, for example the Residential Tenancies Authority in Queensland or Fair Trading in New South Wales, which should be the first point of contact for anyone with questions .

Daily Mail Australia has contacted Ironfish for comment.

Breakdown by State and Territory on Tenant Advice

state/territory

New South Wales

Victoria

queensland

Washington

HER

Tasmania

LAW

NT

How often can landlords increase the rent on a periodic lease?

Once every 12 months for periodic leases.

Once every 12 months for periodic leases.

Once every 6 months.

Once every 6 months.

Once every 12 months. The rent cannot be increased in the first 12 months of the lease.

Once every 12 months, after the start or renewal of the lease.

Once every 12 months from the date of the last increase.

Once every 6 months and not in the first six months of the lease. Rents can only be increased if the right to do so has been written into the tenancy agreement.

How much notice do they have to give you?

At least 60 days (written notice).

At least 60 days (written notice)

At least 2 months (written notice). The notice must mention the date and the amount of the increase.

At least 60 days (written notice).

At least 60 days (written notice).

At least 60 days (written notice).

Written notice of at least eight weeks.

Written notice of at least 30 days. The notice must indicate the intention to increase the rent, the amount of the increase and the date of modification.

Source: Residential tenancies law of each state/territory.

Rent increases deemed “excessive” are different in each location, but generally rental agencies will deem increases excessive if they are too different from similar market rents, if there is a significant difference from the current rent, or if the property has ongoing repairs. necessary.

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