Encore: Facing a rental increase? Know your tenancy rights

On this week’s episode of It All Adds Up we cover all you need to know about tenants’ rights in Australia and what options you have as a renter when your landlord comes knocking with a rental increase.

It All Adds Up is the podcast where we make money easy to understand so that listeners can begin building their financial wealth. You can submit questions via email or voice memo to [e-mail] for Jess and Dom to answer each week.

See omnystudio.com/listener for privacy information.

Episode Transcript

S1 (00:00):
Hello and welcome to It All Adds up the podcast.
So we chat about money, how to get it, how
to spend it and how to invest it. I'm money
and a dumb pal. And you're listening to our summer series. Well,
we're playing some of our hottest hits to help you
get in shipshape financial form for 2023. It all Adds
Up will resume normal programming in February with a brand
new season full of money saving tips and insights. So

(00:20):
until then, sit back, relax and enjoy. Hello and welcome
to It All ends up the podcast where we chat
about money, how to get it, how to spend it
and how to invest it. I'm money editor Don Powell.

S2 (00:37):
And I'm senior economics writer Jess Irvine. It's no secret,
of course, that interest rates are going up and up
and up as the Reserve Bank battles to counter rising inflation,
which is really putting the squeeze on home owners and
property investors, as we know.

S1 (00:52):
Yes, And look, we've talked about this extensively. We talked
about this in many previous podcast. It gets written about
all the time. You know, owners are struggling with rising
interest rates. But there's also another side to this, which
obviously just doesn't get quite the same level of coverage,
which is how this impacts renters.

S2 (01:07):
Exactly. Yeah. Look, we know the majority of Australians, about
two thirds are just a little bit over two thirds
of Australians are homeowners. But, you know, the rest are
renters and typically are made up of people who are
younger and also people on lower to middle income. So
it's really important that we keep talking about rents and

(01:27):
what's going on there because we know that rents have
jumped on average 10% this year alone and are up
about 20 to 30% since 2020. So ouch. That is
also a lot of pressure on on renters.

S1 (01:41):
Absolutely. So look, this episode today is going to be
about renting and your rights as a tenant, because I'm
sure any of our listeners who are renters, many of
them may have been given a rental increase in the
past couple of years. It's becoming more and more common.
So we're just going to talk about what you can
do and the sort of rights that you have when
that that does happen. And, you know, maybe you can

(02:03):
use some of these tips to to hopefully negotiate a
lower rent or maybe no increase at all. But I
thought just just to start off, we can talk about
maybe why rents are going up, because it is linked
to two interest rates to a certain extent. But there
is some other sort of factors as well. So obviously,
you know, Australia is a is a broad and vast country.
We can't talk about every single state and territory in

(02:24):
great detail. So I'm sorry for any of our listeners
that are in other states, but we are just going
to focus on on Melbourne and Sydney today. But the
story is broadly the same pretty much everywhere you look.
But if you look at a house in Melbourne, the
median rent for a house in Melbourne is at about
$160 a week, which is up at about 7% on
last year. And in Sydney it's worse, it's the median

(02:47):
rent is about $620 a week, which is up 12%
on last year.

S2 (02:54):
Yeah, that's really interesting. I remember before I bought my
place I was paying about 650 a week in Sydney,
inner Sydney for a two bedroom property, so I thought
that was sort of at the premium end, but seems
like that's about average now. Yeah, So there's a lot
of talk about what rising interest rates mean for renters
and it's something that I've asked economists about in the past,

(03:14):
like is it do rising interest rates mean that rents
also go up because, you know, it's more expensive for
landlords so they pass it on. And I've actually had
some pushback from that to say that, yes, that's a
cost for landlords, but they can't just come up to
you and say, my interest rates have gone up, so therefore, hello,
I'll have all that extra money please, from you in rent.
We should assume that the rental market is determined by

(03:37):
the forces of supply and demand like any other price.
That's how it's set. And economists always think that the
landlords have their rent set at the maximum that the
market can bear before they will turn off, you know,
potential renters. They will have been trying to get, you know,
maximum rents. So just because rates have gone up doesn't
mean that they can now just pass it all on

(03:59):
because eventually tenants will walk away from the properties. However,
I think that sort of fails to capture what happens
in reality. I think that when rates are low, I
think landlords perhaps do let things slide a little bit.
If they've got a good tenant, they're not going to
be sort of increasing the rent every year. They'll just
think I'll let it slide. And then when we do

(04:20):
get a period where the landlords are getting those massive
rate increases, they do focus again on rents and trying
to get the maximum amount. So maybe what we're seeing
when interest rates go up is landlords are really going
to give they're going to give it a go. You know,
they're feeling the pinch. So, you know, maybe they've let
things slide for a couple of years. Now might be
the time when they do come back to you and

(04:42):
say we need to recoup some of the higher costs.
But again, keep in mind that only as much as
you can afford, they can't ask for anything. Otherwise you
will you will move out and you will go find
other options, whether because you want to or because you
have to.

S1 (04:56):
And look, we'll get into, you know, the options that
you do have when when they increase rents or asterism
or increase your rents later on. But I think, you know,
it is also worth noting that obviously interest rates to effect,
you know, all economists may not think it, but there
is you know, there is obviously a direct impact there
in terms of interest rates and and rents. But there's

(05:17):
also the fact that we've had this fairly unique sort
of situation with COVID over the past three or so
years where there's been a great shift to the regions. Right.
Everyone's wanted to get out of Melbourne. And Sydney and
move out further afield. That's put a massive amount of
pressure on property markets in regional areas. So therefore there's
just not as many rental properties as there once were.

(05:39):
So you have this record low national the national rental
vacancy rate is at 0.9%, which is a record low.
And that's that's not much there when I was really small.

S2 (05:50):
Well, and you might think that it would have gone
the other way because we closed the borders. There was
basically no migration which would hurt demand. But you're right,
people were moving out into other regional areas. They wanted
a bit more space. Maybe they were moving into places
with more bedrooms. And interesting data from the RBA showed
that actually being forced into lockdown in your household led

(06:12):
to many share houses dissolving.

S1 (06:14):
Yes.

S2 (06:14):
Yes, I know. People went, Ah, I'm not staying at
home with four or five flatmates. I'm going to move
in with my partner. And actually household sizes got smaller
and if there's fewer people per household, you need more
of them. So that actually increases the demand for property.

S1 (06:28):
Prior to COVID, I had a house of five people,
and as much as I love all those people in
that share house and still do. If we had been
in that share house during COVID, we would have gone insane.
So I understand why that sort of angle where these
houses all sort of dissolved. And you know what? Five
people living in one house becomes a bunch of different
people living in three houses. So there's all these factors
that have that have sort of come together. And we

(06:49):
are in a true, true crisis when it comes to
the availability of rental properties in Australia. So yeah, rents
are rising. There's very few rental properties. You know, real
estate agents are quite pushy in terms of the suggested
increases they come to like, I don't want to come
too hot against the real estate agents here, but at
the same time they can be very suggestive in terms of,
you know, telling the landlords to increase their rents and

(07:11):
all that sort of stuff. So there's that aspect as well.
There's a bit of a power imbalance here, I guess,
when it comes to the whole, whole market. And, you know,
it's not looking like it's getting much better.

S2 (07:22):
Yeah. And economics does have another concept called the principal
agent problem, which is that the more sort of layers
you get between two people in an interaction, the more
heartless it becomes essentially because you've got, you know, many
people are not dealing with the landlord, you know, the
tenant and the landlord are not dealing face to face
in many cases. And the real estate agent just wants to. Well,
I think they get paid like a percentage of the rental.

(07:45):
They do probably get paid more if they get the
rent up. So they're trying to do that. Yeah. And
it feels like in Australia we just, you know, there
is a bit of a new battle between landlords and
renters and I know a lot of like younger people
of my generation do I get to still be young?
I'm not sure there's an ethical question around like will

(08:06):
I become a property investor? Because, you know, some of
the tactics, you know, the way that tenants are traded
are so poor. It's almost become an ethical issue of, well,
maybe I'll invest in shares instead because I just don't
think I should be in that market or I shouldn't
be taking home from a potential first home buyers. I
heard a great term hashtag, not all landlords. So as

(08:27):
someone on Instagram I follow who was talking about ethical
property investing and you know, she was a younger investment
property owner and sort of talking about, you know, re
forging that bond between landlords and tenants and like she
would buy Christmas presents for her tenants, you know, and
just check in with them and, you know, attend to
all the repairs. So hopefully it's not all landlords.

S1 (08:48):
But yeah, I do I do think I mean, I
think that that sounds great, but I think that is
probably like a minority. You know, I definitely think there's
a big part where the human aspect of the rental
agreement relationship is completely forgotten. But you're right, there is
this massive sort of disconnect which leads to these really
cruel sort of situations where renters who house for them

(09:11):
is part of their livelihood. It's it's an essential part
of of living are getting, you know, kind of done
by these these landlords who just view it view it
really as an investment.

S2 (09:20):
Yeah. And look, the policy settings are all wrong. And,
you know, in other countries like Germany, they have sort
of like it's typically you would be in a property
for ten years at least and like it even there
like you go and you take your own kitchen with
you and have it installed because you expect to be
there for so long. But you know, our tech settings
sort of favour mum and dad's or, you know, smaller
investors sort of, you know, having a crack, trying to

(09:43):
build that multiple property portfolio, selling out. It's not, you know, the,
the large institutional investors that we have overseas where it's
sort of a more manageable thing of trying to keep
occupancy rates, you know, across the board. It's really we're
kind of, you know, fisticuffs a little bit between sort
of smaller, you know, people dealing in this market.

S1 (10:02):
Yeah.

S2 (10:03):
Alright, So I'm so let's get into the nitty gritty
of what sort of legal rights that tenants do actually have.
So if your landlord is showing up in the next
couple of months or if they already had asking for
the massive rent rises, let's have a look at what
sort of legal rights you have. And again, we're going
to sort of focus again on Melbourne and Sydney just because,

(10:24):
you know, it does vary by state to state. So folks.
The thing on Victoria and New South Wales. What is
the deal, Dom, with if you're on a fixed term agreement,
what rights do you have there? Like you've signed up
for the 12 to 24 months.

S1 (10:38):
Yeah. So in both Victoria, New South Wales and I
do believe this is like broadly the same across most states,
But again, caveat check it. But you know, they can't
increase your rent during a fixed term agreement unless the
lease states otherwise. And then in that lease it has
to also not only state that they can. It has
to state how they're going to calculate that rent rise

(10:59):
if they do decide to raise it. But broadly, what
this means is that if you're on a fixed term agreement,
you don't really have to worry too much about rental increases.
But sadly, this is not the case. Like a lot
of times, you know, you get onto a fixed term
agreement first, six or 12 months and then once it stops,
they just put you on month to month because it's
easier for them. And usually it's actually easier for the

(11:22):
tenant as well in terms of moving out. So a
lot of people are actually on on month to month
agreements and on month to month agreements. Your landlord can't
increase your rent more than once every 12 months, though
it is very it is important to point out that
if you're in Victoria and your lease agreement is pre
2019 before 2019, they could do it every six months.

(11:42):
So it's worth checking when your lease agreement was signed
because if it is prior to 2019, they can come
and increase your rent every six months. So but by
and large it's it's every 12 months and they can
only do it once every 12 months.

S2 (11:56):
And one thing on the fixed term agreements, it's not
okay for that agreement to just say we're allowed to increase,
you know, once at the end of the first year
in line with market or just, you know, in line
with general forces. It has to be more specific than
that so that they can't see you're not exposed to
an open ended sort of, you know, what is the
market value type thing in your fixed term? Are there

(12:19):
any limitations on like percentage increase? Like what's excessive is
is there any like you can't put it up by
more than 50%?

S1 (12:27):
Look, there's no specific laws as far as I can tell.
But I think the general rule is that it has
to be reasonable, has to be a reasonable increase. So
they can't come and say, oh, you're paying an extra
$500 a week now because that's outrageous and they have
to give you information as to how they've calculated the increase.
So a bit like what we said with the fixed
term agreements, they have to come to you and say, well,

(12:48):
we've done this and we think it's because, you know,
rental rent in your area has gone up this much.
The property value is going up this much. They've got
to give you reasons for it. They can't just come
and say, this is your rent now, bad luck, you know,
see you later sort of thing. So there's there's that.
And they also have to give you 60 days written
notice about the increase of the rent. And another thing

(13:09):
worth pointing out is that they can't increase the rents. Again,
this is true in Sydney and Melbourne. And I think again,
broadly it's true everywhere. They can't increase the rents to
penalise you. So if you've done something they don't like, like,
you know, maybe through a raucous party in the neighbours complaint,
they can't come in and go, Well you've done that
in the end and now we're increasing your rent and

(13:29):
that's not a good enough reason to increase in rents.
They have to have other other reasons.

S2 (13:34):
That sort of seems like a de facto I've tried
to evict you, but by just setting an unreasonable.

S1 (13:38):
Yeah, exactly. Exactly. And did the landlords certainly do that?
They definitely will come in and say, well, our rents
going up by this much and they're doing that in
the hope that you'll leave. But you know, again, that's
not great. And this things you can do which which
we're going to now we.

S2 (13:52):
Will get to. Yeah. So what what are the first
steps that people should do when you when you get
that letter or that email. My number one tip is
just remember, everything in life is negotiable, including the rent.
So it because there is that power imbalance, people can
feel really hesitant to sort of push back against rate increases.
But you know, we tell mortgage holders to haggle all

(14:14):
the time on the interest rate. You got to haggle
on your rent as well. And just because it may
come with the impressive sounding, oh, the CPI has increased,
but therefore we have to you know, they're having a
crack and you can you can push back as well and,
you know, negotiate with if it's the real estate agent
or the landlord themself, you know, you just you have

(14:35):
to tell them if you think it is too high
and you're allowed to say, I don't think that's reasonable,
you're going to arm yourself with the information about what
you know, what you know, maybe, you know, you don't
want to walk to a different property because that lead
up moving costs, etc.. But, you know, check what the
comparable listings are in your area for, you know, comparable properties,

(14:57):
how much they're paying per rent. I used to also
ask my neighbours, Absolutely.

S1 (15:01):
There's no like salary secrecy clauses when it comes to rent.
You can, you can tell by all you.

S2 (15:06):
Like, so just try to calm yourself with some information.
But when you do mount the case that you want
to push back and not agree to just what's being asked.

S1 (15:16):
And that might mean that you get the, you know,
the increase next entirely, you know, that that might be
you maybe negotiate that or maybe you'll be able to
go see a smaller increase, which might be a bit
more palatable. And, you know, usable.

S2 (15:29):
Yeah. You can push back on the amount or you
can also push back or delay when the increase kicks in.
So that's another one. Say, look, I need more breathing space.
You know, this needs to happen in 3 to 6 months.
I need more notice. That's just a way to push back.
And you can also try you know what? If I
signed up for the 12 month lease, would you get

(15:51):
a could I, you know, agree to a lower figure
if I am willing to commit to the longer lease,
sometimes that can work as well.

S1 (16:00):
These negotiations don't always work out. I think I would
hazard to guess that most like most often they don't
work out. I think usually there's not a great deal
of wriggle room for these sort of things. So the
next step you can take is sort of bringing in
a third party. And in Victoria there is a free,
completely free service where you have to do it within
30 days of receiving this written notice from your landlord.

(16:22):
But you can ask the consumer affairs body for a
rent assessment and they will sort of assess the value
of the property, assessed the rental market and they can
decide if the rent increase is too high or if
it's appropriate or whatever. Completely free, but it's non-binding. So
what happens? Say like you apply for this free rental
service assessment in Victoria, they go, Oh, the rents too high.

(16:46):
And then they give that they give that assessment to
the to the landlord. Landlord is not bound by that
at all. So they can just go cool. Well we're
still going to do it. So I mean it's good
to do like it is a good thing to do.
And like maybe the threat of getting consumer affairs involved
will be enough to sort of, you know, make some
landlords back away. But this this free assessment in Victoria

(17:07):
is not binding. So the next step, which is sort
of the universal step, is to go to the tribunals,
which is V Kat in Victoria and Kat in New
South Wales. And again there's corresponding tribunals in every state
and territory. And again you have to do this within
30 days of receiving the notice from your landlord in

(17:28):
terms of the rent increase. And they do cost like
a little bit of money to apply to the tribunal.
It's not like the fees are quite reasonable though, like
at 65 bucks in Victoria, $54 in in New South Wales.
And I think they only get as high as maybe
100 bucks in some of the other states. But like,
they're very they're within the realm of affordability. So don't
get too scared about the fact that you do have
to pay a fee. They pay quite low.

S2 (17:49):
Yeah, it sounds kind of pretty epic to go to
the tribunal and, you know, take it to a legal.
Do you have to pay lawyers fees? No, this is.

S1 (17:57):
A great thing. I think you're right. People get really
scared and get sort of like quite apprehensive about the
concept of taking someone to a tribunal because it sounds
really big and scary, but it's really good. They like
they walk you through it. It's very, very renter, friendly,
like they're very, you know, in there for you to,
you know, give you a hand and sort of because

(18:17):
they recognise a lot of people don't understand the legal system,
they don't understand, you know, the sort of the nuances
of of the renter and landlord sort of agreement so
that it's really worth doing. And there's great resources online.
If you go to tenants of Victoria over in Victoria
or the New South Wales Tenants Union, if you're in
New South Wales, they have these great factsheets and guides

(18:39):
about what you should do and what you can do
when you want to actually take that step about going
to the tribunal. It's just so worth doing and it's
much easier than you would expect.

S2 (18:49):
And then those decisions are binding, You know, whatever they
decide is what you have to pay.

S1 (18:53):
Yeah, pretty much. So they can, if they decide in
favour of you, they can go, Well, all right, Your
rent is said at this. This is your rent. Or
they can say, okay, well the landlord now can't increase
rents for another 12 months. They can impose all these
orders on the landlord which you know, they have to
abide by. So it's pretty good.

S2 (19:11):
And how long does it take?

S1 (19:12):
They're pretty fast moving. I think it like you can
be locked up in it for a few number of months.
But I believe that whilst you're in the process of
taking someone to a tribunal, the landlord can increase your
rents during that time. So while your so there's sort
of this sort of amnesty period, I believe, where like
if you're sort of currently taking a landlord to speak
out or in cat, they can't during that time be like,
well I'm still trying to increase your rent. So it

(19:34):
sort of puts a bit of a stopper on the
whole thing, which is can be quite useful for a
lot of people. But keep in mind that if one
of the main reasons why you're sort of arguing for
like a no rental increase is because you can't afford it,
they don't typically, I believe, take into account your income
when it comes to deciding these cases. Usually it's sort
of all the external factors, so that maybe that's a

(19:56):
lot of like the number one reason maybe why like
I wouldn't say don't do it, but it just means
just keep in mind that that's not going to be
something they're going to be considering whilst deciding for or against.

S2 (20:07):
Is the tribunal also some way you can take a
landlord if they're like not repairing things around the home
or they're trying to like evict you because they're selling
the property, what is that the place to go for,
to protect against those other sort of issues that tenants
also have?

S1 (20:21):
Yeah. Like, you know, if your there's a bunch of
sort of factors that come into into play here but
like if you're not getting any repairs done or if
the landlord is selling the home or trying to evict
you and they're not following all these proper procedures, like,
you know, you can take them to be cut out
and cut and, you know, challenge them over this. Like,
you know, there's a lot of like, this is where
I recommend people go online and look at these resources

(20:42):
that I mentioned earlier in terms of tenants Victoria and
New South Wales Tenants Union, because they run through all
the things, all your rights in these situations in terms
of like repairs, urgent repairs, non-urgent repairs, all that sort
of stuff. Like for example, I was reading a story
the other day about someone who took their. Landlord to
the tribunal because they had not done any repairs on

(21:03):
the property for years and was being treated really awfully.
And not only did the landlord then have to go
and do the repairs, the tribunal found in favor of
the tenant and they got $10,000 in compensation. So you'd
like compensation is another thing that you can get from
going to the tribunals. So the bottom line is like
the tribunal is your friend. Don't get daunted by it.
It is, you know, it's where you should be going.
If things are if things are going great at your

(21:25):
at your property, it's very rent a friendly. So give
it a crack. So our listener question of the week
is from Carissa, who says that for many years she's
written an annual budget and she's recently graduated that two
a monthly spreadsheet which she hangs up on a noticeboard
in a kitchen. She was always under the impression that
it was better to do an annual budget rather than
a monthly one, because each month is different. But they

(21:49):
find themselves that they keep adjusting in different amounts in
their phone notes as the cost of living goes up.
The situation changes. So they curious about this, the thoughts
on an annual budget versus a monthly budget. And just
there's never been a better question for you to answer
in terms of budgeting. So run run wild with it.

S2 (22:08):
I may have gone through the reader email inbox, then gone.
I'm going to talk about this for 20 minutes, but
thank you, Chris. It is a great question and my
answer is always do both. But, you know, I think
people are looking at their budgets, you know, like I
used to be this weird person who tracked my spending
and tried to figure out if I had a budget surplus.

(22:30):
This is actually becoming critical for everyone, whether you're a renter,
facing those rent increases or dealing with the interest rates
going up almost every month. And so people are like,
how do I write a budget? And the thing I
see with budgets is people sort of sit down and go, Oh, okay,
I've got my rent, some food, electricity, my phone bill and,
you know, maybe 100 bucks for eating out. And they

(22:52):
just fail to capture so many of the expenses that
do actually come up and hit more irregularly, like the
water bill or, you know, servicing your car once a year,
going getting an annual skin check or whatever those sort
of big lumpy expenses are. So I do encourage people
to try and sit down and figure out over a
12 month period what is everything that can come up

(23:16):
for me. And you would be surprised. And people are
not going to be perfect at doing this. And so
tracking your spending at that monthly level so you're aware
of what is coming in and you're going to find
one month. You know, you put your car in for
service and you need new tires. How you know, how
on earth is that a representative month for me? So,
you know, just one month is not necessarily enough to

(23:36):
capture all those extra expenses. And in my book Money
with just I do, you know, run through a complete
checklist of when I went through the ABS data on
household expenditure in Australia, which goes to like 7000 items
or something. And I grouped it all together so people
could go through that checklist. But I think trying to
do both, you know, and and I want to try

(23:57):
and normalize this as much as possible since I started
budgeting like there is just such this wild community of
people who do track their spending, you know, and maybe
it's a privilege that I had previously of being on
a high income. I didn't have to look as closely,
but actually budgeting, figuring out where your money is coming from,
where it is going is a really great skill, and

(24:17):
it's one that people are going to need more, more
than ever. So and I'm just so excited that Chris
has done that. She's hung up on the on the
noticeboard in the kitchen, you know, making it visible as well.
So let's just normalise budgeting. Tom. Let's you know, it's
not I'm not the freak anymore. Yeah, get your budgets on.
You know, we're all doing it.

S1 (24:38):
I think it's interesting that, that you and I in
this podcast, you've got this sort of the hard core
budget in yourself and then me who's just like just
sort of going along with it. So I feel like
we're sort of the angel and devil of, of budgeting.
We're like, and I'm sure one day I'll sit down,
I'll be like, Alright, I'll get some, I'll do it,
just does and get some highlighters that actually planner. But

(24:58):
like for now I'm just vibe and it works, I think.

S2 (25:01):
I reckon there's a lot of people that including you,
that when you roll off your low fixed interest rate
home loan you're suddenly going to go say what now?
How do I find an extra 1500 dollars a month
or whatever? It's going to be done.

S1 (25:12):
But I'm just I'm just pretending that's not going to happen.
I've got to take another year. So I'm like that.
That's fine. It's good.

S2 (25:18):
I'm just looking forward to the vote when you come
to be and just show me how to budget, show.

S1 (25:23):
Me how to show me which highlighters you use. And
just lastly, as always, we've got just this budget tip
of the week, which is food related, I believe.

S2 (25:33):
Yes. Quick tip. And this is when people are adjusting
for their household spending, we're seeing that food is a
big thing that people are really trying to, you know,
not eat out as much and, you know, trying to
save on food costs. So this is my tip is
to know the difference between use by and best before
dates on your food, the one that you really you know,
you should check it out if it's past is the

(25:55):
use by date so donate food that is past the
use by date that is set by you know you
know the Food Standards Australia. And you really should do
that if it's just best before May. That's just a suggestion. Yeah.
Like this would be better if you had eaten it
before this date, but it doesn't mean you can't have
it afterwards. So I just think all.

S1 (26:13):
Systems are scam. The whole thing, the whole this before
thing scam, it's always wrong.

S2 (26:19):
Well, that's the incentive is they want you to be
checking it out and buying new ones. But no best
best before just give a little sniff if it smells.
All right, you could eat it well.

S1 (26:28):
Thanks, everyone, for joining us again. Hopefully you've got some
good tips there on both them. Best before dates and,
you know, rent renting. But yeah, it's been a pleasure.

S2 (26:39):
Yep. Know your rights when it comes to your tenancy and,
you know, get the help that you need if you
are facing one of those massive increases. Thanks, Tom.

S1 (26:47):
Thanks, Jess. See you next week.

S2 (26:53):
This episode of It All Adds Up was produced by
Chee Wong. The information discussed is general in nature and
does not take into account your personal financial situation, goals
or objectives. You should always do your own research or
get professional advice before making any major financial decisions. If
you like today's episode, hit follow in your podcast app.

(27:14):
Leave a review and recommend it to all your friends.
You can submit your listener questions in text or audio
format at. It all adds up at Nine.com.au. AEW.