A landlord with a staggering 283 rental properties in his portfolio claims that despite his enormous riches, he cannot afford to lessen the load on renters, leading social media users to explode in rage and brand him “greedy.”
On Thursday, the landlord David contacted Ben Fordham of 2GB to voice his opposition to the Greens’ political request for a two-year rent price freeze.
Max Chandler-Mather, a Queensland Greens MP, urged the federal government to enact the emergency legislation, claiming that families have been sleeping in vehicles as they are evicted from homes by landlords looking for renters with larger wallets.
However, David vehemently disagrees.
He responded, “I’ve worked hard for it.” My mother had to sign the papers when I purchased my first home at the age of 17, since you had to be 21 at the time.
Fordham, who was struggling to speak, said he didn’t blame the guy for buying real estate but thought the system was flawed.
The landlord replied that he does not constantly raise the rent and added that he had given his renters a payment freeze during the Covid outbreak.
People need to keep in mind that when you work, you have super, David remarked, especially those who are renting.
“Super pay is about 9.5%.” However, I lack super. My rental revenue returned to me last year was 3.1% of what I made.
Are the local, state, and federal governments going to freeze their earnings if they wish to implement a freeze on that?
I pay over $7000 in land tax year per property because the Queensland government assessed me a 2.25 percent land tax.
The landlord’s remarks come as rental costs nationwide hit a 14-year high and as first-time homeowners deal with increasing loan rates and challenges from the cost of living.
Fordham worries that ordinary Australians may soon be priced out of the real estate market.
In response to David’s remarks, he stated, “That’s a lot of houses for one individual to possess.
That’s the system we have in place, but you have to question whether it’s actually in the best interests of everyone in Australia who is trying to find a place to live.
Furious users of social media echoed Fordham’s criticism and called the landlord “greedy.”
One individual said on Facebook, “There ought to be limitations on residential property, all it does is drive up demand and costs, we can’t afford to live.”
A another person chimed in: “Yeah, what with all the negative gearing tax incentives he must enjoy while we’re all paying out our behinds to fund his greed.”
One more said, “That’s why folks can’t afford to purchase and have to pay $500 to $800 rent for a property that they could pay a $300-$400 mortgage on.”
The discussion was triggered by Mr. Chandler-Mather and the Greens’ suggestion to implement a rental freeze in order to relieve housing constraints, referring to the position renters are now in as a “crisis.”
Australia’s housing market is in trouble. Millions of Australians are experiencing extreme rental stress as a result of Australia’s worst rent hikes in 14 years, according to Mr. Chandler-Mather.
Families are sleeping in their vehicles, employees are unable to buy a house close to their workplace, and homeowners are being evicted because they are unable to pay 20% rent hikes.
Australia is going through a problem with housing costs.
A two-year rent freeze would provide individuals the assurance they need to start moving on with their lives because “too many Australians are one rent rise away from eviction or homelessness.”
What does the Greens’ proposed rental freeze entail?
The National Cabinet would approve national tenancy guidelines, including a two-year emergency rent freeze, under the Greens’ proposal.
After that, there would be permanent rent controls, a halt to evictions without cause, minimum requirements for rental properties, and the opportunity for renters to undertake small home renovations.
A national rent freeze should be coordinated by the National Cabinet, with each state and territory enacting its own Rental Tenancy Acts to put it into effect.
For a period of two years after the day the bill becomes law, rents for all residential leases will be frozen at the weekly amount of rent agreed upon or published on 1 August 2022.
The landlord is only permitted to rent the property at or below its 1 August 2022 level if a new tenant begins a lease there after that date.