This is more of a random anecdote... take from it what you will. Our 2Bed house in Toowong has been heading south in terms of rent over the last few years, despite painting interior, installing aircons, etc. (it's a 1920s Queenslander). 3 years ago before these improvements it was rented at $400 a week. Then we made the improvements and had to release it at $395 - now, who knows! We just tried to offer our tenants a new 6month lease and they asked for a rent decrease. My agent tells me she'd reccommend we drop it if we put it back on the market anyway, so it's a no brainer. I only hope our tenants actually accept the lease at the reduced rent! Given our house is a 2 bedroom it's probably competing against a lot of the units in the area. Are others having similar experiences?