The real estate body in the state has raised concerns about imposing overly burdensome conditions on landlords, pointing to the situations in New Zealand and Victoria. The Minns Labor government in New South Wales has implemented a series of rental reforms to enhance housing conditions for tenants. These reforms include a ban on no-grounds evictions, restrictions on rent increases to once per year, and easier rules for tenants to have pets. The legislation also facilitates fee-free rent payment methods and prohibits tenants from being charged for background checks when applying for properties.
Premier Chris Minns emphasized the significance of these changes, stating that renters have been neglected for too long in NSW. The new laws aim to provide long-term housing security for tenants by banning no-grounds evictions and ensuring clarity for landlords on lease terminations. Additionally, rent can only be increased once a year to protect tenants from frequent hikes.
The reforms also make it easier for tenants to keep pets in rental properties and require property owners to offer fee-free payment options. Furthermore, renters will no longer have to bear the cost of background checks. These changes, along with the introduction of a Portable Bond Scheme and Rent Check tool, aim to make renting more transparent and fair for all parties involved.
While the NSW government has received praise for these reforms, the Real Estate Institute of NSW (REINSW) has cautioned against potentially repeating the mistakes of other jurisdictions like Victoria and New Zealand. REINSW CEO Tim McKibbin emphasized the need to focus on increasing supply to address the rental crisis, including encouraging new development and attracting investors to residential properties. Can you please rewrite this sentence for me?
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