Melbourne rental crisis: ‘Rent bidding’ concerns in out of control market - realestate.com.au

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Melbourne rental crisis: ‘Rent bidding’ concerns in out of control market - realestate.com.au
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Knockout rent offers are rampant in Victoria’s raucous rental market, despite it being illegal for an agent or landlord to solicit higher prices

The four-bedroom house at 11 Judy Court, Melton, is listed for $400 per week.

“They’re not asking outright if they are going to offer something more … renters feel like they’re being coaxed to offer more. But Real Estate Institute of Victoria chief executive Quentin Killian said he had not heard of this, although rental bidding “does occur but certainly not from our members” and he was not aware of any complaints to the REIV.“It’s not illegal or incorrect for people to be offering a higher price if they want. The key is the agent cannot then enter into any form of bidding competition or soliciting higher offers, that is absolutely verboten,” he said.

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