When interest rates go up, there are a lot of negative impacts on the economy. Business costs go up, export sales are affected, tourism is affected.. Eventually, wages go down, and the economy slows down. That is why RBA increases rates, to contract the economy and reduce inflation. When that happens, people have a harder time paying for their homes, especially if they are self employed or expecting a pay rise that doesn't come. Landlords on the other hand have the flexibility to increase rents or find new tenants willing to pay the higher rent. As long as they can ride out a short-term loss until their tenancy agreement expires. It's a grim view of the rental market but it's the truth.