More than half of Aussie renters are feeling the pressure to bid above advertised prices in desperate attempts to secure a home, according to new data.
The Real Property Report 2025 revealed that 73 per cent of Australians applying for rentals feel compelled to enhance their applications to stand out.
While rental vacancy rates remained tight, renters are feeling the heat with more than two in five tenants offering $75 or more extra per week to ensure they secure a home.
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New data shows just how far renters are stretched to get into a home. Picture: Gaye Gerard
Leasing agents were also significantly impacted renters’ experiences as well, according to Real Property. Three in five renters were dissatisfied with how agents handle applications and manage properties, with many discouraged from pursuing a property specifically because of their negative interactions with a leasing agent.
Joel Dignam, executive director of tenant advocacy organisation Better Renting, said the results were concerning but not surprising.
“We are hearing all the time from renters about a deep dissatisfaction with their renting experience, whether that be applying for properties, facing rent increases, or dealing with leasing agents,” he said.
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Better Renting Executive Director Joel Dignam at a press conference at Parliament House in Canberra. Picture: David Beach
“It’s particularly concerning that so many renters feel pressured to offer more than the asking rent, and it goes to show the weakness of current protections around rent bidding.”
Under current NSW and Victorian laws, anyone including a real estate agent cannot solicit or invite an offer of rent that is higher than advertised. This however does not stop applicants offering more than advertised.
Rent increases are also compounding financial stress with more than three out of five renters having faced two or more rent hikes in the past two years, leading almost half to reduce their savings and more than two in five report increased financial stress.
With the majority of renters having no other option but to rent, a new wave of tenants are taking their power back and swapping the traditional rental market for Build-To-Rent options.
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Jack Barnett and his dog Brutis has moved to a build-to-rent apartment.
Build-To-Rent buildings are designed specifically for renters, providing them with hotel-like amenities with longer lease options offering extra security compared to being at the helm of landlords.
Jack Barnett along with his partner and dog were tired of traditional rentals after having “poor experiences,” and have signed a two-year lease at The Gladstone build-to-rent building in South Melbourne.
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Amenities included in The Gladstone build to rent building in South Melbourne.
“We really value the amenities we have included in our rent … we wouldn’t have access to that entering the property market,” he said.
“We can wake up overlooking the ocean, head down to the gym for reformer pilates, have friends over for drinks around the lagoon, then watch a movie in the outdoor cinema all without leaving our home,” he said.
Unlike previous rentals, the couple felt like they were being treated like owners and they had no plans to purchase after becoming accustomed to all the inclusions in their rent.
Amenities in the building.
“The leasing team and concierge team have taken the time to get to know us and really want to support us to be a part of the community,” he said.
“Unlike a traditional rental experience where everything has to be passed onto the landlord then the body corporate, here you’re talking to the people who have the capacity to influence change for you.”
The Gladstone apartments range from studios to three bedrooms and start at $665 to $1465 per week and Mr Barnett said the rent was about $100-$150 more than traditional rental properties, but said the extra price was worth it.
Prospective residents could have a private exclusive tour of the available apartments, rather than a crammed and rushed open home, he added.
Lagoon pool at The Gladestone.
“The most challenging part of renting for us previously was having a pet,” he said.
“While laws have changed in Victoria and tenants have more rights regarding pets, I think landlords still prefer tenants without animals. Here at The Gladstone, pets are just as much part of the community as any of the other residents, so that really puts us at ease.”
