Rent hike forces Scrapbook Fantasies owner to move
IT WAS not the best letter a small business has ever received.
Scrapbook Fantasies owner Alicia Redshaw had been renting her location for nine years when the landlord sent a letter in June informing her that her rent would increase by 127%.
That meant her rent would more than double overnight.
The new price was always going to be too much, so she started looking around.
"We looked for a new place and the only ones we could afford were so hard to get," she said.
Ms Redshaw and her husband decided he would buy a building on Toolooa St and her business would pay rent to him.
It was not an easy solution, as the move involved a large mortgage.
"The repayments on (the loan for) this building are less than the rent they wanted and this is twice the size."
She said other businesses were struggling with rents.