Renting in Sydney

[snowyskiesau]

There been a bit of news about the cost of renting in Sydney recently with rents going up 15 - 20% a year - now it's my turn.
Landlord has just told me my rent is going to be increased by 30% from April.

Not complaining too much though. I've been here 19 years and this is the first rental increase I've had. Still paying less than $300 a week for a 2 bedroom semi in Haberfield (inner western suburbs).
Some landlords are pretty good . Mind you, I've been a pretty good tenant, in those 19 years, the landlord hasn't had to spend any money on maintenance. Major garden work done (several times) and I've redecorated most rooms at least once, oh, and I installed a new kitchen a few years back.

Now if I could just get him to build me a garage/shed ...

[Big Shed]

That's a hefty increase!

It brings it home why one shouldn't rent, but buy a property.

Just think in those 19 years you would have paid off the mortgage by now, all those renovations would have benefited you not the landlord.

Best of all with all the appreciation in property prices you would be sitting on a very nice asset, and you wouldn't be paying any rent/mortgage payments.

Could even build yourselg a nice garage/workshop.

[snowyskiesau]

I can't say I've spent a lot on maintenance, there hasn't been that much to do. The
only major work was when the power blew out and it required a new switchboard and all that entails. The landlords' son is an electrician so that was a pretty cheap exercise for him.

As far as buying vs. renting. When I moved in, I didn't plan to stay here for so long. At that time, interest rates were 17% so buying without a substantial deposit was out of the question. On going price increases in the Sydney market kept buying out of my reach.

I have since bought a house in country NSW (Tumut) which is rented out. I'll move there one day. If I could get work there, I'd be packing as we speak

[wayfarer]

30% increase after 19years doesn't seem excessive to me. You gotta take into account what the compounding of earlier rises would be worth. And $300 for a place in Haberfield?... w00t! You'd be the only one at that price!

[hilux]

im looking to rent a place in sydney (cbd or eastern subs) and havent had much luck so far. if anyone has anything available please pm me. thanks