Tom was given a 48% rent hike. But that’s not why he’s upset with his corporate landlord
The Age
23-05-20 19:00
Corporate landlord Wentworth Capital has been accused of trying to skirt Victoria’s no-grounds evictions ban through ambiguous lease agreements. Tom French and other residents of the company's Parkville building accused the property manager of increasingly furtive methods to get them to sign fixed-term agreements rather than continue on periodic leases. Wentworth reportedly kept raising the rent until future tenants were priced out or signed an agreement, thereby avoiding the no-grounds evictions law. The property specialist bought the block from the government late last year.
The allegations coincided with a rise in demand for more build-to-rent towers, fuelled by investment incentives in the Australian Federal Budget. Critics, such as research fellow Dr Chris Martin, fear that more corporate landlords will lead to an increase in landlord bullying tactics.
Despite the state’s efforts to clamp down on the issue, this is not a new problem for Australian renters. In May, charity Anglicare published its annual Rental Affordability Survey that shed light on the struggle renters face to find affordable and appropriate homes. In 2021, Anglicare found that only 5% of rental properties being made available were affordable for a single person on a government assistance plan.