Rizna Mutmainah
Money & Banking

Real estate agency slammed for "greedy" rental increase

Real estate agency Nelson Alexander has come under fire after increasing the weekly rent to one of their vacant properties on the day of the viewing. 

The property, located in the inner suburbs of Melbourne, had a scheduled viewing on Thursday and many hopeful tenants were keen to check it out. 

Unfortunately, their interest came at a cost, as the agency sent out a text just hours beforehand saying that they were increasing  the weekly rent from $600 to $650 due to "overwhelming" demand.

Journalist Jacqueline Felgate shared the text on social media, and many branded the agency's move as  "greedy" and "disgraceful" and even accused them of perpetuating the rental crisis. 

The exact location of the property and the number of bedrooms it has is unknown, and after receiving all the backlash, the ad has since been pulled. 

The real estate agency also apologised and said that they "do not solicit or encourage any form of rental bidding".

"Whilst the current issue at hand is not a breach of legislation, it fell short of our commitment to fair and transparent practices," the statement read.

"We are deeply aware of the moral and social responsibility we have to our community during these challenging times."

They also added that they are currently reviewing their processes to "ensure this doesn't ever happen again". 

It is unclear whether the property has been put back on the market and for what price. 

Images: Instagram

Tags:
Property, Finance, Real Estate, Money & Banking, Cost-of-living crisis