Rent reform on agenda as low-income tenants priced out

RENTAL reforms planned for Sydney have market transparency, more options to pay, and fairer pet restrictions on the agenda.

More accurate data available on a new comparison site based on bond data will aim to give people a better idea whether the rent they are being asked to pay is in line with nearby homes.

The comparison tool allows users to input a postcode and a rental value and have it compared to similar properties in the area to see whether the requested rent is in line with market values.

Fair Trading Minister Anoulack Chanthivong said it will make it easier for tenants to see if requested rents are fair, and for landlords to set their price.

“One in three people in NSW are renters and many spend a large chunk of their weekly budget to pay for the roof over their head,” he said. 

The NSW government plans to introduce legislation next month to implement a number of rental reforms.

Landlords and agents are already required to provide at least one reasonably available way to pay the rent that does not incur additional costs – but the government may tighten the requirements.

Consultation including more than 16,000 public submissions will also inform changes to make it easier for tenants to have pets.

Landlords will still be able to reject pets under some circumstances, including if they live at the property themselves.

It comes as housing advocacy group Everybody’s Home reports people on the lowest incomes are being “priced out” of rentals.

“Sydney continues to be Australia’s most expensive capital city, with every household we studied in severe rental stress,” the report said.

Pensioners cannot meet requested rents and job seekers would have to spend one-and-a-half times their income.

“Others on higher payments or in coupled households can still expect to be spending a large portion of their income on rent with dangerously little left over to meet other essential costs,” the report said.