A re-elected NSW Liberal and Nationals Government will introduce a package of measures this year to provide greater protection and support for renters.
The proposed reforms include:
· Moving to a ‘reasonable grounds’ model for evictions during periodic leases, with the final list of reasonable grounds to be subject to consultation with key stakeholders, including landlords.
· Extending notice periods for end of fixed term leases from 30 to 45 days, allowing tenants more time to find a new home.
· Introduce a new, optional standard lease agreement with three and five year terms, to improve uptake of long-term leases and improve the ability for tenants to ‘make a home’. These standard forms will be developed in consultation with industry.
· Introduce a rental bond rollover scheme to reduce the financial impact associated with moving homes.
· Regulating information collected and stored from tenants and applicants.
These measures are in addition to a range of initiatives already implemented, including:
· Prohibiting solicited rent bidding;
· First Home Buyers Choice initiative, to help first home buyers enter the market;
· A shared equity scheme to assist key workers, single parents and singles over 50;
· Planning reforms to increase the supply of homes.
Premier Dominic Perrottet said the reforms would provide greater protections and certainty for renters across the state, while protecting the rights of landlords.
“We are supporting renters to get into housing in a fairer way, without stressful bidding wars where people get pushed beyond their comfort levels,” Mr Perrottet said.
“Our ban on solicited rent bidding is already improving affordability for those looking for rentals.
“These new measures will provide even greater certainty and flexibility for nearly a million renters across NSW.
“This package supports a range of existing measures introduced by the NSW Liberal and Nationals to drive housing supply, improve rental affordability and increase home ownership.”
Minister for Fair Trading Victor Dominello said the changes build on new rules introduced by the Government last year to stamp out rent bidding in the market.
“Whether you are a university student, a young family or retiree, these reforms will strengthen the rights of renters,” Mr Dominello said.
“This package will complement work undertaken since 2020 to improve and enhance residential tenancy laws, including allowing tenants to take immediate action to end their tenancy, without penalties, if they or their children are experiencing domestic violence.
“The NSW Liberal and Nationals Government has listened to the concerns of tenants’ advocacy groups, and now is the time to act to give more protections to renters.”