PM hit by landlord karma bus

Anthony Albanese has been hit by the landlord karma bus as he’s forced to slash the selling price of his empty investment property after evicting his tenant.

Proving that the life of the property investor is not all beer and skittles, the Prime Minister is still trying to flog the property in Sydney’s inner west months after it hit the market with $1.9 million hopes.

It is now vacant, which means he’s also missing out on rent while he pays a large mortgage on his new Copacabana getaway.

In other words, Mr Albanese now owns two empty homes – the $4.1 million cliff top mansion in Copacabana and his investment property where nobody is home amid a housing crisis.

MORE: Fresh twist in Albo’s investment home saga

He also needs the Dulwich Hill investment property cash to make the mortgage on his new holiday house – which is also empty – less eye-watering.

Mr Albanese pulled the Dulwich Hill home from auction last month instead putting a reduced asking price of $1.85 million.

Now the price has come down again to $1.75 million.

Mr Albanese purchased the investment property in 2015 for $1.175 million, and had it scheduled for auction with a price guide of $1.9 million.

In the listing on realestate.com.au, the three-bedroom semi in Sydney’s inner west was pitched as a “superb family residence designed to maximise space & style”.

It followed an unedifying public exchange with his former tenant who begged his landlord to let him stay in the property.

The tenant living in the Sydney property belonging to Mr Albanese was handed an eviction notice earlier this year, giving him 90 days to leave the three-bedroom townhouse.

The tenant Jim Flanagan, 45, accused the Labor leader of talking the talk but not walking the walk on the housing crisis by evicting him from the rental.

Mr Albanese said the decision was triggered in part by his wedding to Jodie Haydon.

“I’ve had changes in my personal life so I’ve decided to sell the property,” Mr Albanese said.

Speaking on Melbourne radio, Mr Flanagan said he had “never refuted or disputed that, that the PM, as his landlord, didn’t have the right to do what he’s doing”.

“He is absolutely entitled to issue a termination notice 100 per cent. I have nothing against Albo personally. Or property owners,” he said.

“But when you’re a renter, there is a power disconnect between landlords and renters.

“Ideally, I guess we’re just looking for a little bit more of a considerate approach when it comes to evictions, terminations issues, notices to vacate.

“And I guess I was just a little surprised that I wasn’t afforded that.”

The tenant said that the way the eviction was handled “seems a little bit misaligned” with the messaging Labor has been putting out about the rental and cost of living crisis.

According to new financial records lodged with parliament, Mr Albanese owns a $2.5 million Marrickville house and previously owned a $600,000 Canberra apartment mortgage-free.

When you include his two taxpayer funded homes – the Lodge in Canberra where he is based and Kirribilli in Sydney – he now has access to four residential homes.

Mr Albanese also scored a huge pay bump after the election and now earns over $550,000 – before allowances.

Mr Albanese’s climb up the property ladder began in 1990 when he bought first home in Marrickville for $146,000.

“My story began here in a council house in Camperdown,” Mr Albanese has said.

“Just me and my mum.”

Former prime minister Scott Morrison has previously had a dig at Mr Albanese’s property wealth in parliament.

“The leader of the Opposition has bought plenty of homes,” Mr Morrison said in 2022. “He’s bought plenty more than I have. Good for him. Good luck to him. We celebrate success.”

The disclosure paperwork surrounding the Prime Minister’s financial affairs, reveals that the only property that he has a mortgage for is Dulwich Hill with the Commonwealth Bank.

Mr Albanese previously made a tidy $500,000 profit on the sale of his Canberra apartment as he prepared for life in the Lodge and encouraged baby boomers to divest of assets to help first home buyers get into the market.

Putting his money where his mouth is, Mr Albanese sold the property with the same real estate agent he purchased the property for 23 years ago for $162,000.

It sold at auction with three registered bidders for $662,500 on August 20, 2022.

Mr Albanese previously claimed $17,169 in travel allowance from taxpayers to stay at the Canberra unit for 59 nights during Sydney’s marathon lockdown while staging “guerrilla” campaign missions into Queensland and Tasmania.

He claimed a travel allowance for 74 nights in Canberra, Queensland and Tasmania, while parliament was only sitting for 19 days during the same period.

By basing himself in the nation’s capital during the lockdowns in NSW and Victoria, Mr Albanese was able to campaign in Queensland while the his opponent Mr Morrison remained largely locked down in Sydney and unable to travel.