Leaky unit where tenant is not allowed to use bedroom and bathroom for $650 per week due to rental crisis
A downtown landlord is turning heads with an offer to rent a leaky unit for rent at $650 a week, but with a catch: They can’t use the master bedroom or bathroom.
Potential tenants are only being offered a six-month lease on the house at 101/437 Bourke St in Surry Hills and the listing warns that repair work is underway.
The listing for the two-bedroom, two-bathroom unit in the Alba building states, “Master bedroom and bathroom cannot be used and work will be completed during rental.”
MORE: Sydney area still booming
How the F45 co-founder changed Northern Beaches
“Big hit”: the fall in prices wipes out 3 years of growth
He then explains that access to these rooms “must be ensured if necessary” while work is being carried out to repair a water leak in the ceiling.
The supply came amid a rental crisis that recently saw Sydney’s vacancy rate – which measures the supply of available homes – slip to the lowest level in 16 years.
Unit rents across the city have climbed nearly 10% over the past year, while house rents have increased nearly 20%.
The Bourke St apartment is listed higher than the median weekly rent for units in Surry Hills, which PropTrack data shows is $575 per week.
Normally, the apartment would cost $850 per week for renters, but construction has lowered the price to $650.
Listed via Spencer & Servi agents Regina Quinaging and Jeko Quinage, the unit is billed as “beautiful and freshly painted” on its listing.
The rental supply for the apartment seems to point to a wider trend that sees rental prices in capital markets rising, leaving many tenants paying higher than average rents each week.
The listing comes the same week as the Productivity Commission’s review of the National Housing and Homelessness (NHHA) Agreement, which focused on rental housing as vacancy rates hit lows historical.
“As the Productivity Commission points out, ensuring that housing supply is more responsive to demand will have a powerful impact on affordability and must be a key policy objective for governments,” said the chief executive of the Property Council of Australia, Ken Morrison, in response to the report.
“The report reaffirms that we will remain in a housing supply crisis until we improve our planning for new housing of all types.”
Although the apartment offers the tenant a secure parking space and is minutes from the shops and cafes of Surry Hills and Darlinghurst, it is unclear how long the repairs to the water leak would take to complete. .
Originally published as Leaky unit where tenant is barred from using bedroom and bathroom for $650 per week due to rental crisis