•   
  •   

Money Tenants’ should flex their power in Sydney as rent remains high’

16:26  11 october  2018
16:26  11 october  2018 Source:   msn.com

Keli Lane: Investigation reveals police never interviewed potential witnesses in murdered baby case

  Keli Lane: Investigation reveals police never interviewed potential witnesses in murdered baby case A new witness says he remembers convicted child-killer Keli Lane visiting a unit block where she claims she was having an affair with the father of her missing baby.

5. Tenant Can Fight Illegal Rent Increase in Court- If a tenant feels the landlord is increasing their rent as an act of retaliation or discrimination, he or If you wish to continue your tenancy , the new monthly rental payment of Insert New Monthly Rent is required. Please be advised that all other terms of your

I've been a tenant my entire adult life, which is hardly unusual. After all, there are currently nine million renters in the UK. During my rollercoaster years of writing Rentergirl and decades renting , here's what I have learned One of my friends had their deposit withheld when ancient, decaying velvet

The property market in Sydney may be difficult to buy into, but for the rental market, the power now lies with the tenants and not the owners.

That is what a new report by Domain suggests with rental prices across Australia’s capital cities largely flat over the September quarter, with Perth the cheapest city to rent in while Sydney and Canberra earn the title of most expensive.

a sign on the side of a building© Provided by Nine Digital Pty Ltd

Here is a round-up of how the rental market is faring across the country.

Sydney

The median unit rents in Sydney declined 0.9 percent over the quarter, also declining year-on-year for the first time since Domain started recording rental prices in 2004.

Gunman on the run after Sydney man shot in both legs

  Gunman on the run after Sydney man shot in both legs Police are hunting a gunman, believed to be aged in his 20s, after another person received multiple gunshot wounds at a home in Warwick Farm, in Sydney's west.Emergency services were called to the unit on Browne Parade in Warwick Farm at around 4.45am.

Rent control is a special set of laws that particular cities adopt. It generally includes rent increase limits and eviction restrictions. These laws do not apply to other cities, nor to every rental unit in the city. One of the most commonly misunderstood ideas by tenants is that they were under rent control

Temporary Leave. Renters' Rights: pages of free legal advice for California tenants on evictions, security deposits, tenant lawyer directory, & more. Your mind is spinning. Are they kidding? How do they expect you to pay for that as well as rent ? Where can you stay? What about meals?

a close up of a sign© Provided by Nine Digital Pty Ltd

“There’s more rental choice in the unit rental market – there’s 20 percent higher stock level for units,” Domain Senior Research Analyst, Dr Nicola Powell told 9Finance.

“There’s more competition between landlords meaning there are some incentives at play in the marketplace as landlords want to attract and retain good tenants. They are starting to offer discounts on asking rents.

“For any Sydney tenants, the power has swung in their favour,” she added.

“The stock levels are likely to continue to rise and tenants need to use that negotiating power, and the fact that they have greater choice.”

And for Sydney renters wanting a house – there is hope there too.

an aerial view of a city© Provided by Nine Digital Pty Ltd

“Sydney houses have flatlined for a year-and-a-half and we could see some rental easing as stock levels have been impacted,” Dr Powell said.

The RBA's latest interest rate meeting must have been quick

  The RBA's latest interest rate meeting must have been quick The Reserve Bank of Australia (RBA) kept its overnight cash rate unchanged at 1.5% in October, maintaining the status quo that's been in place since August 2016. The result was widely expected by both economists and financial markets alike.Indicating that official interest rates are likely to remain at record-low levels for the foreseeable future, the RBA once again delivered a neutral bias in the key final paragraph of the statement.

First, you need to find out if you even can raise the rent . When a tenant is in a lease, the rent is fixed for the term of that lease and cannot be raised until after the lease is over. This is why rent raises are most common upon the renewing of one’s lease.

In Sydney and Melbourne tenants are spending more than a third of their income on rent , new data shows. Renting a house in Sydney and Melbourne As rental costs increase “almost exponentially the closer you get to the city centre” moving further away from the CBD could be an option with just a

Median weekly house rents in Sydney remained steady over the September quarter and year at $550 per week.

The decline in rental price is growth is driven by a “combination” of factors, Dr Powell explained, including first home buyer activity taking away rental demand as it releases rental supply.

“We’ve seen heightened investor activity and the peak of development in Sydney, with peak of building completion as off-the-plan buildings settle and come onto the rental market,” she said.

Melbourne

In Melbourne, weekly rents remained flat for the quarter at $430 for houses and $410 for unites however over the year house rents have grown 2.4 percent, while unit rents are up 2.5 percent.

“The rental market is tighter in Melbourne than in Sydney,” Dr Powell said.

“The slow down of rental growth in Melbourne will mean better conditions for tenants. What’s quite interesting is Melbourne is experiencing record levels of investment and activity but stock levels are still continuing to fall.”

Nicki Minaj Takes Shot at Cardi B With ‘Nicki Stopped My Bag’ Merch

  Nicki Minaj Takes Shot at Cardi B With ‘Nicki Stopped My Bag’ Merch In retaliation for Cardi B’s accusation that Nicki Minaj tried to “stop my bags,” Minaj released “Nicki Stopped My Bag” merch on Thursday. Following their Fashion Week fight, which saw Cardi lunging and throwing a shoe at Minaj, the Bronx rapper lashed out at Minaj on Instagram: “I let you sneak diss me, I let you lie on me, I let you attempt to stop my bags, f— up the way I eat.” Minaj quickly turned it around on her Beats 1 show, “Queen Radio,” by leveling accusations against Cardi.

A letter to tenants introducing new rental property owners, including details on rent payments, maintenance requests, and the status of The more tenants see us as average people (instead of the L word) the better they’ll probably treat our property, and the more patient / flexible they’re likely to be

Most tenants approach a landlord to talk about rent reduction because they want to stay in the unit but feel like there might be better deals elsewhere. This information is something you should already know because it is most likely the key factor in determining what you set your rent at in the first place.

a sign in front of a tree© Provided by Nine Digital Pty Ltd

Available houses to rent have been falling for the past four years, she said, while units available to rent have also been declining.

Dr Powell believes this is due to “unprecedented” interstate and overseas migration.

“The unprecedented influx of new residents from overseas and interstate has placed additional demand on the rental market, which has led to heightened competition for rental accommodation,” she said.

“The impact from the Victorian Government's recent rental reform is also yet to be seen. It could have an adverse effect on Melbourne’s rental landscape, with landlords opting for shorter-term leases or selling up. However, the overall impact on the rental market is likely to be minor.”

Canberra

Australia’s capital sits alongside Sydney as the most expensive city to rent a house.

a green sign with white text© Provided by Nine Digital Pty Ltd

Median weekly house rent remained steady at the record of $550, which was first reached in the June quarter.

But Dr Powell was keen to put Canberra’s prices into context.

“In Canberra, $550 would get you a larger home, close to the CBD, in comparison to what $550 in Sydney would get you for a house,” she said.

Death of baby boy prompts changes in WA tenancy act

  Death of baby boy prompts changes in WA tenancy act Reef Jason Bruce Kite was an active 22-month-old boy who liked to climb on things, but was supposed to be asleep in bed when his mother found him crushed under a large chest of drawers. The toddler died on October 13, 2013, from "crush injuries" that caused asphyxia when the 1.25 metre unsecured wooden chest of drawers fell on him, the WA Coroner's Court heard last year.Evidence at the inquest found the drawers had not been fixed or secured to the wall because the landlord had not given their permission to make the modification to the home.

Here is a Guide to Rents in Sydney by Suburb that will help with bugeting your expenses. I get asked this question a lot from people all over the world. The high cost of living in Sydney is usually a deal breaker for expats wanting to make the move to Australia.

Rent collection with ClearNow is easy, electronic, and automatic for landlords and property management companies. What happens if tenants do not have enough funds in their bank account? How does ClearNow handle partial rent payments? Can I download or export ClearNow payment data?

Over the year, house rents have increased by 8.4 percent while unit rents have increased 7.1 percent.

For the September quarter, unit rents were flat at $450 a week, a record that has been maintained for the entire calendar year.

a sign in front of a tree© Provided by Nine Digital Pty Ltd

Available houses to rent have hit a five year low, while units available to rent are at two years low, on par with trends in Sydney, Dr Powell said.

“We may see the point where house rents are higher in Canberra than Sydney because Sydney is seeing increase in stock and that will play out in price,” she said.

“If the two markets continue on the same trajectory, we could definitely see house rents higher in Canberra. Canberra average wages are also higher than Sydney.”

However, there are concerns “weighing heavily” on investors in Canberra – rising rates, investor land tax – which could see them “increasing their asking rents or opting for higher yielding options such as short-term leasing”, Dr Powell said.

Brisbane

Median weekly house rents remained stable in Brisbane over the September quarter and year at $400 a week while unit rents were up 1.4 percent over the quarter and year to reach $375 per week.

“Apart from a couple of fluctuations, tenants in the sunshine state have enjoyed four years of steady house rents at $400 a week - this is the longest period of stability in Brisbane’s rental history. The unit market appears to have had a minor turnaround, with rents increasing for the first time in two years,” Dr Powell said.

Toddler crushed by drawers inspires new bill to allow renters to secure furniture to walls

  Toddler crushed by drawers inspires new bill to allow renters to secure furniture to walls Skye Quartermaine couldn't get permission from her landlord to secure a chest of drawers to a wall. Months later the drawers fell on her 21-month-old son and crushed him to death.

Your tenant pays the remainder , which usually amounts to 30% of their gross income. For example, if a Section 8 tenant fills out a rental application in a municipality that requires landlords to accept it, and if that applicant passes your screening process, you need to start the ball rolling to have your

Tenants should also be aware of any terms in their agreement that restrict the number of persons Subletting requires a new tenancy agreement. When a tenant sublets the house they’re renting or At the same time, they remain a tenant under their original tenancy agreement, even though they

a black sign with white text© Provided by Nine Digital Pty Ltd

“Brisbane’s advertised rental stock slipped as a result of the unprecedented inner-city unit development slowing. The state experienced a decade high level of internal migration, with Brisbane becoming one of Australia’s fastest growing city populations. All signs point to a broad tightening of the rental market.

“We may also see Sydney and Melbourne investors, dissatisfied with falling property prices, looking north for better yields and growth prospects, as well as seeking lower entry-prices and holding costs.”

Perth

Perth retains its crown for most afford capital city to rent in with no changes to house and unit rents over the quarter or year.

The city’s median house rent continues to sit at $350, while units are $300 a week.

It is the sixth consecutive quarter of flat unit price for Perth.

“Tenants have been reaping the benefits of falling rental prices since 2014,” Dr Powell said.

The fact prices held steady is “one of the first signs of positivity for investors in the Perth market” following deterioration since 2014 following Western Australia’s challenging economic conditions.

Rental listings have begun to dwindle for over a year now in Perth, with Dr Powell warning Perth tenants will find themselves with less rental choice.

“A broader tightening of the rental market appears to be occurring due to a slowdown in dwelling commencements and investor activity remaining relatively stagnant. This has seen tenants absorb the existing rental stock,” she said.

Cops use Doritos to lure escaped pig 'the size of mini horse' back home

Cops use Doritos to lure escaped pig 'the size of mini horse' back home This giant piggy ate Doritos all the way home. 

Tenants enjoy limited rights, their tenancies are short, and rents – while in the short-term more affordable than buying – are rising faster than German tenants enjoy strong security of tenure. Most tenancies are indefinite and only in very limited circumstances can landlords evict tenants .

The number of private tenants forced out of their homes exceeded the number evicted by social Social housing tenants can usually only be evicted for rent arrears or a breach of tenancy . He called for the freeze on housing benefit to be lifted. “With higher rents , a benefits freeze and impossible

But Dr Powell is confident Perth “will remain one of the more affordable” capital cities to rent in.

Adelaide

Adelaide is the second most affordable city for tenants, despite house rents increasing 4.2 percent over the year. They held steady over the quarter at $375 a week while units had an average weekly rent of $300 per week, up 1.7 percent year-on-year.

“Adelaide’s rental market appears to be tightening with advertised stock levels declining. If rental supply continues to track lower in the coming months it will create greater competition between tenants, which will drive up asking rents,” Dr Powell said.

“Despite rental prices rising, Adelaide remains one of the more affordable rental markets. For investors, the city offers more favourable yields relative to the other Australian capital cities.”

Hobart

While Hobart used to be an affordable city to rent in, Tasmania’s capital is no longer on the affordable end of the rental list, with the city experiencing the highest annual growth in weekly house rents, up 10.8 percent to $410 per week.

Hobart was the only capital city to record double-digit rental growth and while unit rents did decline over the quarter by 2.8 percent to $350 a week, annually they have grown by 9.4 percent.

“The significant momentum that built in Hobart’s competitive rental market over the past two years appears to be easing,” Dr Powell said.

“Available rental stock has marginally increased, which is anticipated as the city has seen an increase in housing developments alongside heightened investor activity. Despite recording the strongest annual rate of growth of the Australian capital cities, the pace of growth is now slowing.”

And while rents have increased in Hobart, Dr Powell did acknowledge that compared to the mainland cities, “Hobart is cheaper”.

“Anyone priced out of the eastern cities will find Hobart relatively affordable,” she said.

Darwin

To the Northern Territory, Darwin house rents held steady over the quarter and year-on-year were down 3.8 percent to $500 a week.

Unit rents in Darwin experienced no quarterly or annual change, holding steady at $400 a week for the first time in four years.

“For investors, a softening sales market continues to improve unit gross rental yields, almost pushing them back to the record highs achieved in 2004 and 2005. A turnaround in rental demand for the city is largely dependent on economic growth, jobs creation and an improved population growth,” Dr Powell said.

“The Northern Territory Government has announced a revitalisation of Darwin’s CBD with an aim at enhancing liveability, and offering key workers financial incentives to relocate. The impacts from the initiatives remain to be seen but the long-term approach to addressing population growth are likely to support rental demand.”

Rental Yields

For investors, there is good news from a national perspective with rental yields increasing by 0.4 percent over the past years months to 3.76 per cent for houses while units were up 1.5 percent over the year to 4.29 percent.

Hobart  continued to provide the best gross rental yield for houses at 4.94 per cent while Darwin and Canberra provided the highest gross rental yields for units at 6.08 per cent and 5.95 per cent respectively. Sydney and Melbourne continued to record the lowest gross rental yields for houses and units.


Renting for life is becoming Melbourne's new normal — but is the law keeping up?.
There's a good reason Melbourne is so wedded to the great Australian dream of owning a house and land: it was created here. 

—   Share news in the SOC. Networks

Topical videos:

This is interesting!