Tuesday, September 27, 2022

Sydney rents explode

 



David and his partner had been living in their inner-Sydney property for only 12 months when they were issued with a 50% rent increase. They had been paying $800 a week for a three-bedroom home with a study and one car space.  Now, they were told, it would jump to $1,200.

“Their justification was it’s in line with market value,” David says. “We said we’d be prepared to pay $1,000 a week, even though the air conditioning didn't work.”

The same week, they were served with a lease termination notice instructing them they had 30 days to vacate the property.

 

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