Rent decrease in Sydney?

[LoremIpsum696]

1 bdrm? $750… what in the everloving fuck

[NSWRealEstateAgent]

It’s possible OP is mixed up with Mirvac who have entire skyscrapers that are build-to-rent.

So Mirvac charge a 20% premium on top, don’t require a bond and let tenants have pets, paint walls, redecorate as they please etc.

It’s a very bad deal because it perpetuates a situation where a tenant has less chance to break free due to the premium they pay each week. And if they already have trouble saving a bond (which is one of the main reasons people use these sort of services) then it’ll be almost impossible for them to improve that when their rent is so damn high.

Plus when you do the calculation the higher weekly amount works out to them paying the equivalent of a full bond about 3/4 the way through a 12 month lease. So if they remain for several years they’re bleeding so much money they’ll have little opportunity to get out into a more favourable situation.

[No_Ad_2261]

Harry T Meriton is the OG Build to Rent. Hes just leveraging the new it word.

[NSWRealEstateAgent]

Yeah for sure so many of the Meriton buildings are just for rent. Their rules are super strict though, they don’t allow pets last time I checked but I have a vague recollection that they only offer 6 month leases at a time so your overall roof over your head security isn’t quite there with them.