I have lived in apartments in Western Sydney and in Newcastle that had less than half the apartments in the block tenanted… yet none advertised. I do not know the motivations of the owners. But it is quite common, in my experience. Perhaps they have no one pass through their doors for six months at a time or more for another reason, but I cannot think of one.
Comment on Create a race to the bottom in the rental market
fine_sandy_bottom@aussie.zone 5 months ago
Do you have any data about investors leaving properties untenanted because it’s “not worth the hassle”?
I’m an accountant. I’ve never seen or heard of an investor doing that. Your costs are similar whether or not the property is tenanted. If you’re paying for or holding the house it doesn’t make any sense not to rent it.
Thisfox@sopuli.xyz 5 months ago
TheBananaKing@lemmy.world 5 months ago
Primary sources, no - just a lot of people talking about it everywhere I go.
Certainly there seem to be vastly more dwellings than households - why do you think that is?
fine_sandy_bottom@aussie.zone 5 months ago
I don’t really know what you mean by that - vastly more dwellings than households.
Think through it logically, if you owned a house, paid for everything, why would you forego the $30k, $40k, or $50k rent? The answer is simply that you wouldn’t.
As I said, I work in this space. There’s no hidden cache of empty houses.
Aside from a few isolated cases of offshore investors it’s not really a thing.