Rental Property Bidding Wars Will Banned In NSW Dodgy Agents Who Encourage It Will Be Fined

In good news for Sydney renters, rental bidding wars have finally been banned in NSW — a practice that’s already illegal in Victoria, Tasmania and Queensland. If you’ve tried to rent in Sydney in the last two years, chances are most of the properties you’ve come across haven’t advertised a fixed rental price — meaning prospective tenants can offer to pay more money than listed for the rental in order to secure it. So if a house is going for $600 a week in rent, someone can offer the real estate $650 or $700 to make sure they’re the one who bags it, leaving those without extra cash priced out of the market. It’s fkn rough out here, but that’s about to change. Premier Dominic Perrottet announced rental bidding will finally be banned from Saturday December 17 onwards. “We know right across the country the property market is tight and the rental market is difficult,” Perrottet said on Monday, per 9 News

Victor Dominelloreport any dodgy listings or agents to Fair TradingGuardian AustraliaSophia Kim@sophiainsydney

@sophiainsydney

Replying to @Jack OHara502 trying to have his cake and eat it too I’m over this; good news is I found something today #sydney #sydneyrentals #rentinginsydney #apartment #sydneyapartment #fyp #foryoupage #foryou #sydneyrent #sydneyhome

♬ It’s My House – Diana Ross

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