NSW Rent Advertising Requirements for Residential Landlords and Agents

Residential Tenancies Amendment (Rental Fairness) Bill 2023

Legislative Assembly

Legislative Council

Assent

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Effects of this bill

If this bill passes, it means that:

Landlords and agents must state a fixed rent amount in advertisements; they cannot invite offers higher than that amount.
Landlords and agents must tell all applicants in writing if a higher offer is made; this must happen within one business day.
Landlords and agents must update advertisements to the highest offer if another open house is happening; they must also tell prospective tenants the highest offer during inspections.
Landlords and agents must keep copies of higher-offer notices for at least three years.
The Commissioner for Fair Trading can require information to monitor rent advertising.
The Rental Bond Board holds funds in the Rental Bond Account on trust.
The Fair Trading Secretary gets more power to regulate rental bond roll-over schemes; this includes how the Tribunal handles unpaid bonds.

The Debate

What different members said when this bill was debated:

Scott Farlow LIB

“I lead for the Coalition in debate on the Residential Tenancies Amendment (Rental Fairness) Bill 2023. As was our position in the Legislative Assembly, I confirm that the Coalition will support the passage of the bill, notwithstanding the Government’s shambolic management and approach to rental reform to date.”

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Mark Banasiak SFFP

“I contribute to debate on the Residential Tenancies Amendment (Rental Fairness) Bill 2023. None of what I am about to say reflects on the Minister with carriage of the bill in this House. The Shooters, Fishers and Farmers Party [SFF] does not support the bill.”

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Cameron Murphy ALP

“I wish to start my contribution to debate on the Residential Tenancies Amendment (Rental Fairness) Bill 2023 by saying I had a look at the members’ code of conduct, which was developed for the purposes of section 9 of the Independent Commission Against Corruption Act 1988 and I want to declare that I am currently a renter and probably will be in the future.”

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Jacqui Munro LIB

“I make the same disclosure as the Hon. Cameron Murphy about being a renter. While the Opposition supports the Residential Tenancies Amendment (Rental Fairness) Bill 2023, I fear that it will have limited effect in making rental properties more affordable. My colleague the shadow Minister has already explained the shambolic way in which the bill has been spoken about and introduced.”

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Cate Faehrmann GRN

“On behalf of The Greens, I support the Residential Tenancies Amendment (Rental Fairness) Bill 2023. The bill addresses a clear gap in existing legislation that allows landlords and landlord agents to solicit rental bids from prospective tenants. The Greens support the bill because it supports New South Wales renters, who bear the impact of the housing and cost-of-living crisis.”

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Emily Suvaal ALP

“I support the Residential Tenancies Amendment (Rental Fairness) Bill 2023. The current rental market is very challenging for renters in New South Wales. Rental vacancy rates have hit historic lows.”

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Rod Roberts IND

“On behalf of One Nation, I say that we will not support the Residential Tenancies Amendment (Rental Fairness) Bill 2023. In fact, a more accurate statement is that we cannot support the bill. It may be well intentioned, but it is completely void of any substance and has been from the minute it first surfaced.”

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Emma Hurst AJP

“On behalf of the Animal Justice Party, I contribute to debate on the Residential Tenancies Amendment (Rental Fairness) Bill 2023. Renting in the New South Wales market has never been more unaffordable. Rental prices are sky high and vacancy rates are at an all-time low. We are well and truly in the midst of a rental housing crisis, and it is harming the most vulnerable members of our society.”

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Tania Mihailuk IND

“I make a contribution to debate on the Residential Tenancies Amendment (Rental Fairness) Bill 2023, which seeks to extend restrictions on soliciting rent bidding and expand regulatory powers regarding a portable bond scheme. I echo the sentiments of my colleague the Hon. Rod Roberts, who expressed One Nation’s opposition to the bill, which lacks crucial details as to how it will operate.”

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Stephen Lawrence ALP

“I speak in support of the Residential Tenancies Amendment (Rental Fairness) Bill 2023. I will express some opinions about the bill and share some of my lived experience as a renter—it was a while ago but it may be about to begin again—but also currently as a landlord and a home owner.”

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Anthony D'Adam ALP

“I make a contribution to debate on the Residential Tenancies Amendment (Rental Fairness) Bill 2023. I start by putting on record that I have been a renter and I have been a home owner, but I have never been a landlord. Landlords are very well represented in this place and the other place. In fact, landlords probably have the numbers in this place and the other place.”

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Sarah Kaine ALP

“I speak in support of the Residential Tenancies Amendment (Rental Fairness) Bill 2023. The bill amends the Residential Tenancies Act 2010, the Property and Stock Agents Regulation 2022 and the Residential Tenancies Regulation 2019. I acknowledge the earlier interjection from the Hon. Wes Fang.”

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Mark Buttigieg ALP

“Mr Assistant President—”

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Rose Jackson ALP

“I speak in support of the Residential Tenancies Amendment (Rental Fairness) Bill that is before us in relation to what is the first group of amendments to the Residential Tenancies Act that the Minns Labor Government is going to implement. I say that deliberately in acknowledgement that this is the first, but it will not be the last.”

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Courtney Houssos ALP

“I thank the Hon. Scott Farlow, the Hon. Mark Banasiak, the Hon. Cameron Murphy, the Hon. Jacqui Munro, Ms Cate Faehrmann, the Hon. Emily Suvaal, the Hon. Rod Roberts, the Hon. Emma Hurst, the Hon. Tania Mihailuk, the Hon. Stephen Lawrence, the Hon. Anthony D’Adam, the Hon. Dr Sarah Kaine, the Hon. Mark Buttigieg and my ministerial colleague the Hon.”

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News articles and press releases

Residential Tenancies Amendment (Rental Fairness) Bill 2023

Mr ANOULACK CHANTHIVONG, Minister for Better Regulation and Fair Trading — 2023-05-10

The bill will enact another two of the Government’s election commitments: to eliminate the practice of secret rent bidding and to establish a portable bond scheme. Those two important changes will help level the playing field for tenants and assist with the costs of renting. The changes to rent bidding will fix loopholes in New South Wales’ current rent-bidding laws and boost transparency for everyone in the system. The bill does this by extending the existing ban on solicited rent bidding so that it also covers owners and third parties, not just real estate agents. Those changes will also fulfil the Government’s promise to remove secret rent bidding, where one applicant for a tenancy offers a higher price and secures the property without the other applicants knowing about the higher offer or being given an opportunity to match it.