We have a 1 bedroom, 1 bathroom, 1 car bay, ground floor property coming available at 64 Spencer Ave around 23/24 December at $400.00 per week.
Why is this portentous you ask?
The unit is owned by the gentleman who owns the one I am renting. (He built and owns 124 similar units)
The one for rent is in a block of units about 100 metres down the road.
The unit is exactly the same as mine.
I am currently paying $350 a week. The rent will go up in May, and this offering shows that my rent might rise to $400 a week.
There is the possibility the empty unit might have been refurbished, hence the higher price.
I have been in this unit for 11 years and only the hot water unit has replaced.
So glad Sue and I decided, even before we got married, not to rent ,throwing out money to a stranger, but to save hard and buy our own house. At least having paid a mortage for many years it was going into our investment, Now mortage free with a nice house that decision has paid off many times over.
Early correct decisions with a long term view saves worry about rent increases - termination of rental contracts - finding new places to move to when rent goes beyond mrans,
That’s crucial. The market determines what decisions people can take and markets differ. Since our real estate market is prohibitively expensive, the majority of people are forced to rent. This, in turn, leads to a better protection of tenants . You don’t mention any such measures that may protect you from rising rents. Aren’t there any?
