The reason people keep homes empty and do not lease out is due to the legislation. If a tenant do not pay rent, it costs an year or more in NCAT to evict the tenant. Lawyers charge around $500 per hour. Department of Fair Trading is Department of UNFAIR trading for the landlords. Since recent legislation changes, investors diverted their funds to shares or other investments resulting in serious shortage of properties. I myself just evicted a tenant from my property and now property is vacant. Will I risk leasing it again!!! I guess not. My original planning was to have atleast 2 fully paid rental properties by the time I retire so that I do not have to be on government funded pension. Now I am diverting my funds to bank shares due to reliability of dividends.
