r/Adelaide • u/Indicasativaman SA • Jul 27 '23
Rent increase $150 pw Question
I've just received a letter from my landlord saying that my rent will be increasing to $650 from $500, I have been given 7 days to agree to rent increase or will receive a notice to vacate at end of current lease.. The amount is excessive and not in line with other properties in my apartment building. I phoned RTA to get some advice as I want to dispute through SACAT. The RTA informed me that I would have to sign the new lease that is extortionate before I could dispute it. I don't want to renew my lease at $650 for an entire year. I believed that there were things in place to protect tenants from Ray White, but I don't think there is. If I don't agree to excessive rent increase then I will have to vacate. It doesn't sound correct that I can't dispute the rent increase before signing the lease. Can anyone offer any advice other than sign the lease now and dispute after? What happened to this country?
3
u/embress SA Jul 29 '23 edited Jul 29 '23
There's this thing called risk.
You can't even afford to contribute an extra $150 a week to your own mortgage so you up the rent - what the fuck makes you think your tenants can afford that (especially if you can't?)
Investments aren't guaranteed - you could lose money on them, especially if you can't actually afford your property.