Woman’s rent increases $12,000 overnight

A Sydney influencer has revealed how her rent increased by an eye-watering sum overnight, after a “shady” email was leaked.

A Sydney influencer has revealed how her rent increased by an eye-watering sum overnight, after a “shady” email from apartment giant Meriton was leaked.

Milly Rose Bannister was commenting on an internal email which surfaced online last week in which the country’s biggest apartment developer instructed employees to take advantage of the current market to squeeze renters.

“Hi all, as you are all aware, the market is on fire and vacancy extremely low, so please ensure you’re pushing rents as hard as possible,” read the email, which was shared to Facebook and Reddit.

“Students are arriving and we will see record numbers this year.

“For HOT/family units, please ensure you push above targets, especially if you have nothing available and doing six month leases.

“For landlord units, I recommend starting with a six month lease, as this gives you the opportunity to increase the rent sooner in a rising market.

“Please also ensure you’re doing your rent reviews now whilst the market is hot.”

Influencer Milly Rose Bannister says Meriton has increased her rent by nearly $12,000 per year. Source: @millyrosebannister/TikTok

In a post on TikTik on Sunday, Bannister described the scandal as “absolutely cooked” and revealed she had been affected, with her rent set to increase from $670 to $900 per week in two months.

“Basically this shady email was leaked from the Meriton bosses in the head office to let all of their landlords know that they need to be pushing rents as hard as possible and signing six-month leases so they can increase the rent more often,” she explained.

“I currently live in a Meriton and our rent went up yesterday by 35 per cent. That’s $230 a week and almost $12,000 a year.

“I met someone yesterday in the Meriton next to us who said that they’ve been pushed out because their rent is going up by $1000 a week and they’re getting students in three to a room.

“Unfortunately there is no limit to how much Meriton can increase the apartments [rent] every year, no limits to the percentage and you can’t do anything about it unless you want to go to the tribunal — not fun.”

@millyrosebannister

Overnight my rent went up $12,000 per year (35% increase) 😳💔 #meriton#brutal#rentalcrisisaustralia#yahoonews#shesonthemoney#rentalproperty#apartment#rental#inflation#scandal#leaked#aita#australia#aussie

♬ original sound - MILZ

The post has attracted more than 500 comments with many sharing similar experiences.

“My rent in Botany went from $595 to $950. Three bedroom apartment OMG. Yes I moved out,” one said.

Another wrote, “Just moved out from our Meriton apartment on Monday after two years, the rent went up by $400 per week in one go.”

A third said, “Who suddenly has an extra $12,000 to spend on rent. #cancelmeriton”

“Agreed! Renters’ circumstances aren’t changing … nobody’s budgeting for a $12,000 increase,” Bannister replied.

Some suggested the government needed to step in with “rent caps”.

“Every day there’s more people homeless due to greed with rent increases. It’s a real problem,” one said.

Several people recommended she try to fight the increase.

“Go to the tribunal. I got an 8 per cent increase judged as excessive. Landlord terminated me three days later. Back to tribunal for retaliatory eviction. Done,” wrote one.

Another added, “We just had a big increase in our apartment in the city. We refused it and counter-offered. Said it was exorbitant and we’d take it to tribunal. It worked.”

Not everyone had sympathy, however.

Meriton has denied being ‘greedy’ after the leaked email.

“It’s not a scandal. It’s called supply and demand. They are investors maximising their return. Did you do a video of rents dropping 30 per cent two years ago?” one person asked.

Bannister replied, “I agree — but it’s more cut-throat the way they’re going about it and the complete monopoly they have over the apartment market.”

Responding to the leaked email last week, a Meriton spokesperson denied having “greedy” practices and said if the company was greedy, it would be “unable to lease any of its own apartments”.

“Meriton manages 4250 properties on behalf of landlords and part of that service is to ensure landlords achieve ‘market rent’ for their property,” the spokesperson said.

“The rents are no greater than they were before Covid and of course the costs have gone up.

“Recent inflationary pressures have also impacted rent values but this seems to be exacerbated more so in Sydney where there is a chronic undersupply of apartments.

“The banks are increasing interest rates rapidly, why are they not being called greedy?”

The spokesperson added Meriton was “doing more to keep rent increases at a stable pace” than many other companies and was “working hard” to meet Australia’s housing demands.

It comes amid fears more Aussies could be pushed into homelessness as the availability of private rentals remains low and waiting times for social housing stretches into the years, according to housing campaigners.

The national rental vacancy rate remains at a record low – below 1 per cent – while campaign group Everybody’s Home spokeswoman Maiy Azize said Australia still needed half a million social houses immediately.

“It is the least affordable we’ve ever seen it — the rental market is at fever pitch and the social housing shortfall is growing all the time,” she told The Sydney Morning Herald.

“We’ve heard stories about people living in their cars for months at a time while they try and find a place that’s affordable. So this is absolutely a problem that’s getting worse, and the unavailability of social homes and the enormous waiting list is playing into it.”

— with Brooke Rolfe