I currently live in the rear unit of a block of 3 units which are all owned by the same people. My unit is a VERY small 3 bedroom unit which was freshly painted when I moved in and a brand new kitchen and split system airconditioner. My rent is currently $285 p/w.
Unit 2 is an even smaller unit which is only 2 bedrooms, old original kitchen and old aircon. Unit 2 is currently up for rent at the whopping price of $320 p/w - yes, a massive $35 a week MORE for a crappier smaller unit! I seriously can't see how anyone would pay that amount for that unit!
I would say that there are very good odds of my rent going up soon by the looks which really sucks when soon I am also going to be paying off a mortgage and paying rent :( If my rent went up to $320 p/w that would increase my rent by $250 a month which is almost a 25% increase - can they even do that?
And again, FAAAAAAAAAAAAAAARRRRRRRRRRKKKKKKKKKKKKK!!!