A Minns Labor Government will make renting in New South Wales fairer and more affordable by establishing a Rental Commissioner, and having legislation ready to go when Parliament is recalled to ban secret rent bidding and to introduce a portable bond scheme.
 
One in three New South Wales households are now renters. But that number will only increase, as rising house prices and stagnant wages continue make owning your own home increasingly difficult.

More and more families and people are now becoming lifetime renters.  Additionally, more than a third of renters are paying more than 30 per cent of their household income towards their weekly rent.
 
A NSW Rental Commissioner will be an advocate and voice for renters by working closely with government, consumer affairs, stakeholders and renters to:

• Lead consultation and drafting of legislation to introduce reasons for eviction;
• Implement Labor’s portable bonds scheme;
• Oversee a ban on secret rent bidding;
• Identify barriers to increasing housing supply for renting;
• Identify practices and gaps that erode the rights of renters;
• Identify options for longer term agreements, giving security and certainty to both renters and owners;
• Initiatives including educational resources for renters and owners to increase knowledge of their rights’
• Gather data on renting and survey renters to help inform future policy making; and
• Identify ways for renters to more easily access energy efficiency initiatives.

 
But Labor understands there is a cost of living crisis now. That’s why when Parliament is recalled to pass legislation on coal caps, Labor will also introduce legislation to crack down on secret rent bidding and for a portable bonds scheme.
 
Secret rent bidding encourages renters to continually out bid each other on price to secure a home, driving up the costs of rent. It has to stop.

The Government has had 12 years to act on this dodgy practice that is already outlawed in other states, but they have sidelined and ignored renters. 
 
Labor’s plan will mean that all rental transactions will be open and transparent. If tenants want to offer more than the listed price, this is disclosed to all applicants who then have the chance to match the offer.
 
This builds on Labor’s comprehensive renter’s package, which is aimed at reducing upfront costs and ensuring fairness for renters, while also providing certainty to mum and dad investors. 
 
Labor’s plan to making renting fairer and affordable includes:

• Establishing a NSW Rental Commissioner to be an advocate and voice for renters, working closely with both renters and owners, along with government and stakeholders;
• Introducing a portable bonds scheme to help relieve some of the cost pressures of moving homes by allowing renters to transfer their bond from one property to another;
• Introducing reasons for eviction;
• Banning secret rent bidding to ensure more transparency for renters;
• Increasing housing supply by looking at transport land holdings close to public transport; and
• Targeting 30 per cent social, affordable, and universal housing on surplus public land, including an audit of all available public land close to Metro stations and infrastructure 

Quotes attributable to Chris Minns, NSW Labor Leader:

“If parliament sits before the March election, we’ll have legislation ready to go to make renting fairer to end the secret bidding wars that drive up the cost of rentals, and for a portable bond scheme.

“And if we win, we’ll install a rental commissioner, whose job will be to hold landlords and agents to a high standard to ensure fairness across the rental market.

“I know how important and difficult housing affordability has become, and these measures help to ensure every person has access to a safe and affordable roof over their head, regardless of whether you rent or own your own home.”

Quotes attributable to Courtney Houssos, NSW Shadow Minister for Better Regulation and Innovation:

“For 12 years, this Government has sidelined and ignored renters. We understand renters are under increasing pressure and have a clear plan to give them immediate relief by ending secret rent bidding, introducing reasonable grounds for evictions and implementing a portable bonds scheme.

“But to solve the larger issues for renters, we must ensure that there is more housing available on the private rental market. Vacancy rates are at records lows, with more and more investors leaving the market. Labor’s plan to target transport land holdings close to public transport for housing will increase the overall supply of housing available for both home buyers and renters.”

Quotes attributable to Rose Jackson, NSW Shadow Minister for Housing and Homelessness:

“Our current rental market is unfair and is directly contributing to increased homelessness.

“It’s simply too hard to find and keep stable and secure housing in the rental market, particularly in some regional areas. 

“More and more people are renting – and in many cases renting for life. They need security for them and their children.”

CHRIS MINNS MP
NSW LABOR LEADER
 
COURTNEY HOUSSOS MLC
NSW SHADOW MINISTER FOR BETTER REGULATION & INNOVATION

ROSE JACKSON MLC
NSW SHADOW MINISTER FOR HOUSING & HOMELESSNESS