Roughly 17,000 Aussies are going on strike this month and stopping payments of rent to their landlords after the COVID-19 pandemic has left most of them jobless.
There is a number of COVID-19 Rent Strike Pledge floating around online where people are asking for rent amnesty from landlords and mortgage amnesty for real estate agents.
Demanding a total freeze on rent payments may seem harsh but we’re living in unprecedented times in one of the most expensive cities in the world.
With this strike happening, landlords aren’t legally allowed to evict tenants for 6 months because of regulations in place by Scott Morrison.
There are rental waivers and deferrals being introduced for commercial real estate but nothing yet for residential!
For landlords, the term investment property means their rental income is profits from an ‘investment’.
Investments are not guaranteed to be profitable 100% of the time, sometimes losses are incurred!
While the economy begins to crash, everyone is losing money on various investments, why is it just assumed that rental profits will remain the same?
Food for thought!
We hope none of you are going through something as difficult as this at the moment, but if you are, maybe it’s time to have a discussion with your landlord.