Renter slams landlords for complaining about mortgage hikes: ‘A luxury’

Renter slams landlords for complaining about mortgage hikes: ‘A luxury’

A landlord has sparked an online debate after complaining about his rising mortgage costs. (Source: yourinvestorbroker/TikTok, izabella.antoniou/TikTok)

An Australian tenant has sparked an online debate after calling landlords who complain about their mortgage repayments increase.

Izabella Antoniou responded to a video on TikTok, in which an American owner complained of having increased the rent for its tenantsbut there was $11 left out of his pocket.

“When tenants complain about a $100 [sic] rent increase, but my mortgage went up by $111, so I’m making less money, not more,” the landlord said in the video.

Antoniou, the Greens’ candidate for Summer Hill in New South Wales, said owners needed to reassess their risk profile.

“You made an investment of your own free will. Having an apartment building is a luxury. The housing your tenants need is a human right,” she said in TikTok.

“You can’t punish people who try to live in housing [sic] for your poor financial decisions or lack of foresight or lack of consideration of your own investment risk tolerance.

Antoniou said she wanted to expose the lack of electricity tenants had in the current housing system.

“What I hear is that people are terrified of being evicted from their homes at any time – either directly evicted or evicted by unchecked rent hikes,” Antoniou said. Yahoo funds.

“They live in places that aren’t up to scratch because they know they don’t have the power to push back, and that ‘making noise’ could lead to them being evicted without cause, for someone else’s benefit. ‘one who will accept the exorbitant price, the toxic mold and the cracks in the ceiling, in desperation.

TikTok sparks debate

But Australians were divided in the comments, with some agreeing with Antoniou’s comments, and others saying the owners had every right to pass on their cost increase.

“Rental housing is not a human right, and it becomes a choice between me losing the roof over my family or the tenant…sorry,” one person said.

“As a tenant, I’m not on the landlord’s side, but… rental properties are not charities, they can legally raise the rent. Do not like [it] move then,” another commented.

“How lucky is she, she [pays] $11 for a mortgage, but most of us can’t afford to buy our own homes and live in fear of not having a lease! said one user.

“They end up with paid-for property worth hundreds of thousands in assets. It’s a short term loss for a long term gain for them,” another person wrote.

What can tenants do?

Jemima Mowbray, head of policy and advocacy for the NSW Tenants’ Union, said the debate showed Australians had lost sight of what homes were.

“For a tenant, it’s his home, and when he talks about struggling to make rent, he’s talking about struggling to keep a roof over his head,” Mowbray said. Yahoo funds.

“It becomes very emotional for them when they see owners talking about properties as an investment and losing an investment.”

In most states and territories, rent is set by the market, not by landlord costs.

“When owners get an extra cost, sometimes they test the market and see if they can get a little more,” Mowbray said.

“Right now we have such tight supply that tenants feel they have to pay the extra rent, so we see market rents being forced up.

Mowbray encouraged tenants facing rent increases to contact their landlord or real estate agent to negotiate and review the market price of similar properties in the area. Showing a good rental history can also be helpful.

“It’s helpful to try to humanize the conversation and give them an idea of ​​your situation and also your rental history,” she said.

Follow Yahoo Finance on Facebook, LinkedIn, instagram And Twitterand subscribe for free to our daily newsletter.

Leave a Comment

Your email address will not be published. Required fields are marked *