The rent system in Australia is currently under severe stress.
Vacancy rates are at near record lows in all capital cities, with Australia’s 8 million renters applying for up to six properties each time to secure a rental.
At the same time, the single supplier to the private rental market, Australia’s 2.2 million family investors, have been challenged by COVID-19, interest rates, inflation and increasing regulatory costs.
Family investors are now wondering: will there be rent freezes and rent controls introduced next?
The Australian Parliament is now investigating this through their Inquiry into the worsening rental crisis. This looks at how to improve the rental system in Australia.
We need family investors to come forward and tell their stories about the challenges of rental supply; and why we’ve ended up in severe rental shortage we are in.
We need more rental supply, not less of it and need to find a common ground to achieve this. We know rent freezes and rent controls are not the answer.
Your say is essential to add to this to ensure access to rentals for all Australians that need it.
Read the REIA media release here.
Principals and Property Managers
Family Investors and Tenants
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