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Other Rent Reforms

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Portable Bonds Scheme

The problem?

Currently when someone is moving between homes, they will usually have to pay a new bond up front before having the bond for their previous tenancy returned to them. ​ This can add additional financial pressure during what can sometimes already be an expensive process of moving house. ​ That is why the Minns Labor Government is developing a Portable Bonds Scheme.

What is a portable bond scheme?

​The Australian first program will allow renters to transfer their bonds between properties when moving homes. It means when a renter is already forking out on the costs of moving, they don’t have to pay for a new bond before getting their old one back.

Banning Background Checks for Rentals

What are background checks?

​NSW has more than 2.2 million renters. At the moment, some online rental property application apps encourage renters to pay between $25 – $30 to cover the cost of their own background checks, on top of providing detailed information to the leasing agent.   These ‘optional’ charges often come with the promise that they’ll increase an applicant’s chances of securing a home.​ This can add additional financial pressure during what can sometimes already be an expensive process of moving house. ​ That is why the Minns Labor Government is developing a Portable Bonds Scheme.

What's happening?

The Minns Labor Government will change the law to make it clear that renters cannot be charged for background checks.  ​ Under these changes, the only payments renters can be charged when applying will be those specifically listed: The deposit. The rental bond. Rent for the property. Any fee for registration of a lease longer than 3 years. ​ Landlords will continue to have the right to check or make reports to third party tenancy databases, in line with the strict rules already in place. ​ Tenants can only be listed on a database for two reasons, either they have left the property and owe money, or the Tribunal has made an order to terminate the agreement because the tenant has done the wrong thing.

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Reducing Rental Fees

The issue

The current rental market in NSW is the toughest that renters have seen for decades, with historically low vacancy rates, and median rent prices for houses increasing by around 7 per cent over the last 12 months.
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Renters are also frequently saddled with the additional burden of unnecessary fees and service charges for paying their rent.

The solution

The Government will require property owners and agents to offer free ways to pay, such as bank transfer and the Commonwealth Government’s Centrepay.

It is not fair that renters are being charged additional fees simply to pay their rent, especially amid current cost-of-living pressures.

Authorised by Dominic Ofner, Australian Labor Party (NSW Branch), Level 9, 377 Sussex St Sydney NSW 2000

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