MeisterEckhart wrote on Dec 30
th, 2023 at 10:36am:
Sophia wrote on Dec 30
th, 2023 at 10:29am:
You know what else can’t be justified? Exorbitant yearly rates rises, and insurance, wow… our home insurance, our house we lived in 30 years… just went up $800 renewal to $3,200!
I’ve lowered it by $600 by top excess of $1500 and leaving out contents.
Just building insurance. Next renewal will be a worry.
Our council rates are approx $4,500, insurance $2,600.
Wages don’t go up as much as these!
Yes, True.
There's a social theme in Australia among some that
renters need not plan for possible future adverse outcomes because 'that's what the government's for'. If that fails, there's always evoking 'moral outrage', via social media, from those looking for a deflection.
Since when does renting come with these extra conditions about things outside a renatal agreement?
They are hiring/ leasing/ renting something from a provider.
They still have to pay for the electricity, & now water usage on top of their rent costs.
With these exhorbitant rent increases & prices I think that power & water charges should be included in the rental price.
For $630 a week that would be a fair expectation.
Otherwise keep the rents at reasonable levels.
Edit: how do renters plan or put aside for future adverse outcomes when the majority of their income goes to paying the rent & after that food & bills ...... they don't have any disposable income to save/put aside?
Obviously you have never really ever done it tough.
What other option is there aside from planning for future adverse outcomes when economic forces like inflation, housing crises, and others are a fact of life in any economy?
To hope that buyers will rent their properties out significantly below their market value and bear the cost of that themselves is not a feasible plan.