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A 26-year-old landlord with multiple properties asserts that it is completely “understandable” for landlords to increase their rents. The woman, known as Grace, constructed her property empire by creating content on OnlyFans. She owns two apartments and a house and is looking to purchase another.
Grace resides in her Melbourne apartment, with her house in another part of Victoria listed for $396 per week, awaiting tenants. Meanwhile, her second apartment in Brisbane is under construction and is planned to be rented out upon completion. Each of her properties has substantial mortgages ranging between $429,445 and $462,479.
With Australia currently facing a significant housing crisis marked by record-high mortgages due to a 4.35 percent cash rate from the Reserve Bank of Australia and a record-low vacancy rate of 0.7 percent, rent prices are skyrocketing. This situation is proving to be challenging for both landlords and renters.
Grace explained to news.com.au that raising the rent is acceptable if the reason is to cover costs. But she stresses that landlords must not be unreasonable with their hikes or evict tenants without a valid reason. As a landlord, Grace says she aims to be fair and honorable towards her future tenants. She added that she was surprised by the vast costs involved in being a homeowner and maintaining her three homes. Despite the challenges, Grace is thrilled to have entered the property market and plans to further expand her portfolio.
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