I guess many see me as strange but the last month or so I've learnt something strange about Brisbane in general.
When you apply for a rental lease the real estate agent does the reference checking and sends off applications to the owner for a decision. Is this common in Brisbane?
My brother and I have rental properties in Sydney since 1989 and I know many others on the same boat. We have never got involved in selecting tenants. (I have no interest in selecting tenants) And I have never heard of anyone I know involved in selecting tenants. I pay the real estate to make that decision.
Why is Brisbane different?
We've only got 8 weeks before we have to move out and we are not even close to securing a new lease. My luck is shining through here as well.
We're trying to stay under $520/week and that is a very competitive market. Currently paying $360/week and I don't want to break the bank.
Went to an inspection on Tuesday. More than 30 people went through the place. $450/week. Apparently there are 12 applications with the owner. You need a lot of luck. I hold no hope of getting this one. Another 3 inspections tomorrow and 2 on Tuesday.
How did we sit back and let this eventuate? One apartment listed for $485/week, going up to $590/week in 2 months after signing lease. Another apartment listed for $490 going up to $600/week in 2 months after signing lease. I know there's a shortage of rental properties but how do you justify 25% increases? The government really needs to step in here but they've chosen to stay out of it. Sad.