Greenacre Sydney: Rent-free home in exchange for tenant renovating it defended by Rabie Chehade

The real estate agent for an 'unliveable' three-bedroom house listed as 'rent-free' in return for a tenant renovating it out of their own pocket has defended the controversial proposal. 

The Greenacre home in Sydney's west was listed by real estate agent, Rabie Chehade, who spruiked it as a 'win-win' situation for the landlord and a renter seeking a long-term lease agreement.

Initially advertised as one year of a three-year lease being rent-free, Mr Chehade said that rent will instead be offset over the term of the lease by the total spent on renovations by whoever moves in.

Photos from inside the house show exposed drywall and no ceiling in many rooms, with loose wiring hanging from the roof's structure. 

The listing was widely rubbished online by people pointing out how much it would cost to renovate the run-down property. 

The owners of the house are hesitant to sell as it has been in their family for over 50 years.

'The owner is basically short for some cash supply and he wants to rent it, it's been empty for three years,' Mr Chehade told Sunrise on Tuesday morning.

'I guess it's a renovator's dream.'

He then made a callout for 'tradies with the right licences' who could work on the house themselves to apply to live there. 

The house was originally advertised at $650 per week after the first rent-free year, which almost amounts to $34,000 in rent per year.

Although the cost of renovation is uncertain, some people online have estimated it would cost upwards of $100,000 to make the house habitable - making the proposed rent-for-renovation deal laughably one-sided.

But when quizzed on the financial viability of the agreement, Mr Chehade revealed more incentives for prospective renters to jump on the deal.

An 'unliveable' three-bedroom house in Greenacre, in Sydney's west, (pictured) has been listed as rent-free but with a catch, successful tenants must renovate it out of their pocket

'The owner is happy and willing to sit down with a potential person and come to an agreement to scope the works of the actual property and a long-term lease and a rent that's below the market for future,' he said.

'It's not just the first year rent-free. If the renovation cost supersedes the first year, we'll cover the second and third year, offsetting the rent.

'It's a pretty good deal, it's a win-win situation for both the tenant and the landlord.' 

After being on the market for a matter of days, the listing was taken down after Mr Chehade claims he received 'plenty of interest'. 

'We are preparing to take a number of parties through the property,' Mr Chehade said. 

Real estate agent, Rabie Chehade (pictured), called the deal a 'win-win' situation although tenants might need to fork out upwards of $100,000 to cover renovation costs

While Mr Chehade believes the incentives will result in the house having its first tenant in years, NSW Premier Chris Minns weighed in on the proposed deal online.

'There is no excuse for this,' Mr Minns wrote on Twitter. 

'That's why we're acting now to reform our rental laws.'

Other Twitter users commented on the state of the house on a separate post to Mr Minns'.

'So it needs kitchen, bathroom, (insulation) & Gyproc to all interiors plus decoration & exterior works. And that’s just what we can see,' one user wrote, commenting on photos of the property.

'[It will cost] $150k even on the cheap and [the landlord] thinks a $34K rent reduction & free labour is doing you a favour?'

'Wouldn't even come close to fully renovating that with a year's rent,' another Twitter user wrote.

'Not sure how you're supposed to live in it while you do it either!'

Photos from inside the house (pictured) show exposed dry wall and ceiling in numerous rooms in the house with exposed wiring hanging down 

'You get to renovate this person's property, with your own money, so you can live in it, but own none of it, and then you get to pay them rent for the luxury,' Steph Briese said in a video posted to TikTok. 

'This, contrary to the suggestion that this is an opportunity for a savvy-minded person, is disgusting.

'What kind of late-stage capitalism hellscape are we living in where a landlord and a real estate company think its acceptable to rent out a property that is not habitable to live in by law. And then make the renters pay for it?'

'If the landlord lacks the funds to upgrade the property, they should sell it,' one user wrote under the TiKTok.

'If a building inspector determines it unliveable, it is the owner's responsibility to fix it up to be liveable,' a second wrote. 

'Wouldn't be surprised if if the tenants were evicted after the renovation work was completed,' a third joked. 

Daily Mail Australia have reached out to Mr Chehade for comment.