‘It’s our role’: Ray White defends email appearing to encourage rent hikes

Ray White is defending a leaked email appearing to encourage hefty rent hikes amid the state’s housing crisis.
The agency’s West End branch allegedly encouraged landlords to raise rent by between 17 and 20 per cent.
They reportedly pointed out that Queensland’s tight rental market meant it was unlikely tenants would push back against the increase.
“This can be as much as $10,000 per year in additional rental income,” the email read.
It comes as Brisbane’s rental vacancy rate dips below one per cent, far from the healthier range of 2.6 to 3.5 per cent.
“It doesn’t seem right to me but I get the investor side of things,” Bill McDonald said.
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Ray White Queensland chief executive Jason Andrew told Bill McDonald the email was sent by a “young property manager reporting what it is we are seeing inside the market”.
“We don’t make the market, we report the market,” he said. “It is our role to report that, it is our role to tell our investors and we will do so.”
Mr Andrew said he understands rent increases can “hurt” tenants.
“But I think when tenants hear the entire story, that it can in certain circumstances cost $5- or $10,000 to move, there can occasionally be acceptance to rents going up.
“Rents don’t go up all that often. Many tenants would admit to the fact that it’s been five, six, seven years since their last increase.”
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Image: Getty