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This Real Estate Agency Is Boasting About Huge Rental Increases And Read The Room, Buddy

The email was presumably meant for landlords.

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A Melbourne real estate agency is getting blasted after an email boasting about enormous rent increases was sent to a tenant.

It’s no secret that the rental market is in absolute shambles right now, with median rent prices increasing by as much as 72.6 percent in some Australian suburbs in the last twelve months. And with the rising cost of living putting further strain on household budgets, rent increases are the last thing tenants need.

But while most real estate agents realise this, one Melbourne agency has actively bragged about the “biggest rent increase”.

In an email that was presumably meant for landlords — not tenants — Ironfish Real Estate noted its “achievements in June”, including the biggest rent increase of $225 per week for one unfortunate Melbourne renter (which equates to a massive $977 per month). The leasing update also noted that the average rent increase is $98 per week.

The email was posted to the r/Melbourne subreddit by a tenant who claims their own rent increased by $400 per month, which is actually less than the average rent increase of tenants with the agency.

Contrary to popular belief, there is no set amount that your landlord can increase your rent by, as it all depends on the property market.

While you can fight increases you believe to be “unreasonable”, there is no national definition of reasonable rental increases, and a tribunal will usually focus on market conditions, rather than the increase itself. So basically, if your neighbours are also being hit with massive hikes, your bargaining power will be limited.

Melbourne remains Australia’s most affordable capital city for renting. However, it’s worth noting that unlike other states, Victorian landlords can generally only hike up your rent once per year — so it’s possible that those on a 12 month lease will be hit with rental increases when they look to renew.

But if you’re being hit with increases of more than $900 per month, it may be worth considering your options and vacating the property.

Junkee reached out to Ironfish Real Estate for comment.