Community consultation regarding changes to NSW Rental Laws and Protections.
Have your say by filling out the official survey.
https://www.haveyoursay.nsw.gov.au/improving-nsw-rental-laws
[NSW] Community Consultation - Changes to Rental Law and Protections
bigbadboogieman on 03/08/2023 - 23:01
Comments
I wanted to write something about rent bidding but there's nothing in the survey about rent bidding at all. This should be illegal on all parties, it's not enough for agents to not suggest rent bidding yet due to supply and demand and other factors, people will continually to offer to rent bid.
Rental bidding is the most efficient way of hitting the equilibrium rent.
Its not the REA's or LL's fault if someone is willing to pay more than the other guy, everyone should be given their fair chance to put their best offer in.
If it were up to me I'd allow open rental auctions, if it were done in the open then theres transparency rather than the opaque bidding that people don't like.
Its not the REA's or LL's fault if someone is able to pay more than the other guy.
Fixed it for you.
If it were up to me I'd allow open rental auctions, if it were done in the open then theres transparency rather than the opaque bidding that people don't like.
Please, no. Enforcment is bad enough in home sales that underquoting is rife. Imagine subjecting more people to the same "laws" where advertised price has no relation to the end result. What's next, we'll see "landlord bids" in this "auction" process. We need more transparency, not less. I say this as a landlord myself.
There is an option on the same link to make a submission.
Oh thanks, most likely missed it
You can write a submission on this link on the same website. Submissions can be with your name or anonymous.
https://www.haveyoursay.nsw.gov.au/improving-nsw-rental-laws…
The survey is sucked into a computer and never seen by humans until the computer says NO, or yes. So stories will be wasted on the limited intellect of the computer.
It's not possible to fix rent bidding.
Exactly.
If I were a tenant that really liked the property and were told my application was not accepted because the rent was too low, the first thing I'd ask is how far off I am from a successful application.
The agent hasn't initiated anything.
Instead of making all tenants anxious that the agent was going behind everyone's back, let it be in the open so everyone can see what each is bidding.
There are ways and it's just a matter of execution.
An example is:
If the rental listing state 500p/w, there should be a universal system the REAs and landlords need to input that property is 500p/w and that price is locked for minimum 1 month, and if it changes, the listing price needs to change before the tenant signs the contract, then the REAs need to go into the system and update the listing stating it's occupied at 500p/w.
Listings would just start high, and people could make offers for lower amounts.
I feel like this is going to descend into another multi page post where unreasonable landlords fight with unreasonable renters.
There are moderate normal people on both sides but they seem to get lost in the sea of the comments from the two extremes.
My experience is most landlords are pretty awful and most tenants are pretty awful, good relationships between moderate parties are pretty valuable and less common IMO.
So to summarise, People equal Sh!t?
Well i'm not saying completely evil, but largely sh!t enough that I wouldn't want a large investment to be at the mercy of their home life, or to have to live in a house owned by them.
I find it annoying with surveys in general where they don't let participants write their story or opinion.
A well written survey should have a written field for anyone to write additional information.
To have the participant only answer multiple choice questions isn't getting the full story behind the problem they want to fix. Not all options will be there and thus forcing the participants to answer what's only in the multiple choice makes the survey, IMO, incomplete and ironically bias.
I wanted to write something about rent bidding but there's nothing in the survey about rent bidding at all. This should be illegal on all parties, it's not enough for agents to not suggest rent bidding yet due to supply and demand and other factors, people will continually to offer to rent bid.