Bidding Wars Between Would-Be Tenants

Posted on April 28, 2007 by | 0 Comments

Tim O'Dwyer M.B., LL.Bby Tim O’Dwyer M.A., LL.B Queensland Solicitor & Consumer Advocate

 Queensland’s Courier Mail newspaper has reported that tenancy advocacy groups are warning that bidding wars between desparate tenants are causing havoc in the Queensland rental market. This fiercely competitive market, the groups claim, has been hit hard by low vacancy rates and high property prices.

Bidding Wars! Queensland Shelter’s Adrian Pisarski told The Courier’s housing reporter, Amanda Horswill, that a shortage of properties was forcing would-be tenants to compete.

There were, he said, more and more open houses and “auctions for rental properties”. Mr Pisarski explained that, just like in regular property auctions, agents were opening houses for prospective tenants to inspect before they put in their private bids or applications to the agents. As a result, he said, some families with young children were forced to live in tents and caravans.

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