An inside metropolis landlord is popping heads with a suggestion to lease out a leaking unit for lease at $650 week, however with a catch: they can not use the master suite or ensuite.
Potential tenants are being supplied solely a six-month lease on the house at 101/437 Bourke St in Surry Hills and the itemizing warns that restore works are underway.
The itemizing for the two-bedroom, two-bathroom unit within the Alba constructing states: “the master suite and ensuite can’t be used and works will probably be accomplished in the course of the tenancy”.
It then explains that entry to those rooms “have to be supplied when required” whereas works are completed to repair a water leak within the ceiling.
The provide has come amid a rental disaster that just lately noticed Sydney’s emptiness charge – which measures the provision of obtainable housing – slip to the bottom stage recorded in 16 years.
Unit rents throughout town have climbed almost 10 per cent over the past 12 months, whereas home rents are up almost 20 per cent.
The condominium on Bourke St is listed for greater than the median weekly lease for models in Surry Hills, which PropTrack information exhibits is $575 per week.
Ordinarily the condominium would cost $850 per week for renters, nevertheless the development has lowered the worth to $650.
Listed by way of Spencer & Servi brokers Regina Quinaging and Jeko Quinaging, the unit is touted as ‘gorgeous and freshly painted’ on its itemizing.
The rental provide for the condominium seems to be indicative of a broader pattern that’s seeing rental costs in capital metropolis markets being pushed up, leaving many tenants paying greater than common funds for lease each week.
The itemizing is available in the identical week because the Productiveness Fee’s assessment of the Nationwide Housing and Homelessness Settlement (NHHA), which targeted on rental housing as vacancies hit historic lows.
“Because the Productiveness Fee states, making certain housing provide is extra aware of demand can have a robust affect on affordability and must be a key coverage focus for governments,” Property Council of Australia Chief Govt Ken Morrison stated in response to the report.
“The report reaffirms that we are going to stay in a housing provide disaster till we enhance our planning for brand new houses of every kind.”
Whereas the condominium does present a tenant with a safe automobile area and is in a location that’s minutes away from Surry Hills and Darlinghurst retailers and cafes, it’s unclear how lengthy the repairs for the water leak would take to repair.