A devastated tenant has spoken out against “excessive” rent spikes after her one bedroom apartment underwent a shocking $250 a week increase.
At 31 years old, Megan Pustetto should be in the prime of her life.
She has worked hard over the years to become the successful business owner she is today, and enjoys being a single and independent woman living in Sydney.
But she is now facing the grim reality that she will be forced to move back home with her parents in her thirties due to being hit my a massive rent increase.
Megan’s one bedroom Rosebery apartment in Sydney’s inner south – which has no car space or storage – has suddenly increased by $250 a week, going from $550 to $800.
“I’d been living in this place for three years with no issues,” Megan told news.com.au.
“This huge rent increase is really stressful to be honest. I have decided that I have to move back home with my parents.
“I can’t afford what is out there. Even if I did have the money, the vacancy rate is so low right now. It is almost just by luck that you would get anything.
“I am fortunate enough to have parents to live in Sydney. I feel awful for people who have no family here, and they have to stay here for work and pay this absurd amount.
“But I moved out of home when I was 18. Moving back there at 31 was not in my plans.”
Megan says she reached out to her real estate to as whether it would be possible to negotiate the $250 a week rental increase.
But sadly, they would not budge.
Megan will need to move back in with parents due to the rent increase. Picture: Instagram / @meganpustettoHer rent increased from $550 to $800. Picture: Instagram / @meganpustetto
“I live alone, so paying that amount by myself is basically impossible,” the podcast host explained.
“When I got the email about the increase, I just burst out crying. That was my entire wage spent on rent.
“I was shocked. It was so excessive and extreme.”
In a string of emails, Megan’s real estate agent cited rising mortgages and interest rates as their reason behind being unable to negotiate the $1,000 per month increase.
“I asked them if they would consider a lower increase, but they refused,” she said.
“They told me that the landlord was under a lot of pressure. Which I understand, but what about the tenants?
“I know the costs are rising, but that’s the risk you take when you invest in a property.
“The fact that they can’t meet their repayments is not my responsibility. I am paying their entire mortgage.”
Have you been hit by a huge rental increase? Continue the conversation: [email protected]
She hopes the government will step in. Picture: Instagram / @meganpustettoShe moved out of home when she was 18. Picture: Instagram / @meganpustetto
Megan has decided to take them to the tribunal, both for the rent increase and due to them allegedly not reimbursing her for paying an emergency plumber.
That is when she claims the real estate gave her notice that they would be terminating her lease.
“My toilet did not flush, and they were not responding to my requests for help,” Megan said.
“I told them I would pay for a plumber, and they said they would reimburse me.
“But when I sent them the invoice, they told me it was not approved.
“When all this came up with the rent increase, I informed them I am taking it to the tribunal.
“They then said they were terminating my lease.”
The real estate cites the rising interest rates for the rent increase. Picture: Supplied
Megan says she feels some landlords are taking advantage of the current rental crisis for financial gain.
She also hopes that in the near future, the government will step in to help tenants who find themselves in similar situations.
“Don’t buy investment properties if you can’t afford increases,” she said.
“So many landlords are capitalising on people’s desperation right now. Some do not even need the extra money. They are just reflecting what everyone else is doing.
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“The government needs to step up and intervene. It is out of control. They need to offer rental support, and a rental cap.
“There are people out there who don’t earn as much as me, they have families. I don’t know how they are doing it.”
Read related topics:Sydney