The rent question...again

[peregrin]

The usual question: T12, mid-floor H flat. Landlord looking to raise rent 15% from 15k to c17k. I don’t think 17k is reasonable, but I don’t keep an eye on rental rates. Any thoughts?

[Matador]

Seems a bit saucy .   I pay 12.5k for a mid-floor H in T2.  Used to live in T7 and our mid-level H was 14k about a year ago.

Best to call his bluff and look into moving.  Say you have already started negotiations about moving and that you can remain at 15k (maybe wiggle room of up to 15.5?) but then leave the ball in his court.  Put the pressure on him and be very relaxed about it.  Dont blink, dude!

[garyhk]

Wow, 17k!! That's very interesting; it does seem high though.

Can you keep us posted on your progress?

[peregrin]

Let the games begin....i wd be interested hearing from anybody who has just signed a lease for an H flat.

[Domino]

I signed one at 16.6K two months ago for a 50+ floor H.

[Chejai]

The flat next to me is going for 18K - and I hear someone's about to sign for that......  I'm top floor.

[peregrin]

I can understand the premium for a high floor, tho 18K sounds too much. I've offered 15.5K (cd stretch to 16k).

[peregrin]

That was quick--counter offer of 16.5K “which is a good deal as you don’t pay management fees” !!!!! what freakin’ planet etc….

[Chejai]

Here's another one for you - just back from viewing a place this evening.... landlord wants 22K.  For Tower 1, low floor, flat A.... must be the view of the ground investigation works being done by the new developer across the road that's such a turn on! 

We said no.

[mikea]

Rents have gone up , but I think for mid floor if you negotiate about 16.5 to 17K  will be a reasonable deal looking at current rent rates

[garyhk]

It seems that rents have gone up a lot --- seems like much more than 10%, maybe nearer to 20%.

I also heard that the agents have almost no keys for viewings for sales; with most units for sale having tenants in situ.

[charles]

how many months are you in your current contract?
If you're on month 13 it's a bit dodgy for a landlord to ask for an increase. Ask for an offer on paper and see what the reaction is?

[Carsten]

Signed for a high floor A in T12 a month ago.
Owner asked for 17K, got it for 16K.

[Chejai]

how many months are you in your current contract?
If you're on month 13 it's a bit dodgy for a landlord to ask for an increase. Ask for an offer on paper and see what the reaction is?

I agree it's a bit off, but there is nothing legally wrong with this is there?  I've been through this on this forum before, but this happened to me - got a call on the last day of the 12th month of our 24 mnth contract, saying if we don't accept an increase by 30%, they will give us one months notice.  I've heard somewhere that legally an owner can't cancel you're contract unless they can demonstrate (a) no payment of rent; (b) damage; or (c) they need to live in the flat themselves.  If they can't do that then they have to honour the contract..... but, that's just what I've heard.  I wonder if you can shed any more legal light as I am now living out the rest of my contract with the knowledge that my landlord could phone me any minute and say "guess what, it's rent raise time"......

[DrBubb]

I know I won't be very popular for saying this...

If it is a very nice flat, and esepcially if it is furnished, it may be worth $16-17,000.

We were getting $17,000 for one of ours (very nicely furnished & finished), but we have sold it now.