Crucial reforms to ease the pressure on renters have passed the NSW Parliament.
The passage of the Rental Fairness Bill means the Minns Labor Government has:
- Closed existing loopholes and extended the ban on soliciting rental bids so it applies to third-party platforms and owners, not just real estate agents,
- Empowered the NSW Rental Commissioner to gather pricing data from agents, allowing them to advocate for renters and provide quality advice to government, and;
- The powers needed to get on with designing and implementing a portable bond scheme that will deliver significant financial relief to renters.
After 12 years without a voice, the Government has heard renters and is acting to boost their rights and deliver relief.
When designed and in place, a portable bonds scheme will deliver critical financial relief to renters by making sure they don’t have to pay twice.
Closing loopholes and providing the NSW Rental Commissioner with the powers needed to find solutions across government will pave the way for further action.
Aside from rental reforms, the Minns Government is taking steps to increase housing supply across the state and ease pressure on the rental market, including creating a pathway for faster planning decisions and incentives for developers to include affordable housing in their plans.
The NSW Government has also begun an audit into surplus public land that could be rezoned for housing, it has included housing supply in the Sydney Metro review and the Government will establish a Building Commission to make sure NSW is building good quality, affordable homes.
Quotes attributable to Minister for Fair Trading and Better Regulation Anoulack Chanthivong
“Our focus is on getting the balance right with responsible reforms that deliver better rights for renters and changes to get new homes built to drive down rents.
“In the existing system, a renter paying $550 per week faces a bond cost of $2,200 if they want to move.
“A portable bonds scheme will end the system that sees the average renter forced to spend the equivalent of 11 weeks’ groceries to move from home A to home B.
“Today’s reforms are the first step, not the last. We’re already working on the next tranche of changes to deliver relief, including making it easier to have pets in rentals and ending no-grounds evictions.”