Melbourne rental crisis: ‘Rent bidding’ concerns in out of control market - realestate.com.au

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Knockout rent offers are rampant in Victoria’s raucous rental market, despite it being illegal for an agent or landlord to solicit higher prices

The four-bedroom house at 11 Judy Court, Melton, is listed for $400 per week.

“They’re not asking outright if they are going to offer something more … renters feel like they’re being coaxed to offer more. But Real Estate Institute of Victoria chief executive Quentin Killian said he had not heard of this, although rental bidding “does occur but certainly not from our members” and he was not aware of any complaints to the REIV.“It’s not illegal or incorrect for people to be offering a higher price if they want. The key is the agent cannot then enter into any form of bidding competition or soliciting higher offers, that is absolutely verboten,” he said.

 

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300,000 migrants coming each year at the moment. We have a housing crisis so how is this happening? 🤔

I do wonder how it is that pre covid 2019 with all the internationals we had in Oz we had an over supply and then suddenly post covid internationals are still mostly gone and we have an under supply of houses? Its almost like there's a secret club of rich multi property owners…

Who in their right mind would sell their investment properties if this is the case? Which they are

Not just a Victorian problem

Woah. That is a problem. People need to call for a halt to immigration until the government rectified the housing crisis. Our democracy must work for the people not ‘for profit’

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