Stefan Belevski says he will save about $340 a month across his three investment properties as a result of the Reserve Bank of Australia’s first interest rate cut in more than four years, which is not enough for him to think about lowering the rent for his tenants.

“In the grand scheme of things, it’s a small saving. Any suggestion that mum and dad investors should pass that, or every rate cut, to tenants, is absolutely ridiculous,” the Melbourne mortgage broker and landlord said.