$70 detail in Melbourne property listing stumps renter

·2-min read

A real estate listing in Victoria has left a potential renter stumped after they noticed an extra detail in the description advising rent would increase by more than 10 per cent in a couple of months.

The four-bedroom, two-bathroom property in Keysborough, in Melbourne’s southeast, is on the market for $610 per week, however included in the property description is one important detail,.

“Rent will increase in November to $680 per week,” the ad from Areal property reads.

The extra $70 per week had one viewer confused, who took to Reddit to ask: “Anyone explain how this is allowed?”

Source: Areal Property
The rent for this Melbourne home in Keysborough would rise by $70 per week from November. Source: Areal Property

As it turns out, the property is being advertised as a lease transfer, which means the current tenants are moving out and the realtor is looking for someone to take over the rental agreement.

From November, a new contract would start at the higher price.

The post quickly attracted almost 100 comments from Redditors who offered advice and opinions on the pricing.

“They can't raise the rent until the original period is over. I'm not sure what the issue is,” one user wrote.

"The old tenants are on the hook for the rent until someone else moves in, but only if the landlord mitigates their loss by advertising it for the same rate," another said.

While one person called the advertising “shady”, others quickly hit back in defence of the agency.

“It's not shady. It's what they are legally obliged to do when someone breaks a lease,” one wrote.

“It's normal. You are misinformed it seems,” another added.

“Local one near me is listed at $640pw increasing to $800pw in October. Probably a break lease but yep it's happening everywhere,” a third wrote.

Rents continue to rise in Australia

Steep rent increases have burdened Australian tenants in recent months, with more instability feared as interest rates are expected to rise yet again.

In Sydney, one woman was shocked to receive an email from the property group that manages her apartment informing her that her rent would be rising by $440 a fortnight to $1700.

"We can barely afford the current rent as it is,” she said, sharing the email on Facebook.

"My cat has finally settled into our place and is so happy here, and so are my partner and I but now we have no choice but to move.

“Sorry, I know I’m not the only one in this situation — it sucks."

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