NSW government to crack down on rent bidding
- Dec 14, 2022
- 1 min read
Landlords and real estate agents in NSW will be banned from encouraging tenants to offer more money to secure a property, under urgent changes to help deal with the state’s rental crisis.
Asking an interested tenant to offer to pay more than the advertised rent will become illegal from Saturday, and landlords and agents will also need to specify the rent payable on advertised properties.
However, there is concern the practice of rent bidding could continue, as no restriction is being placed on a landlord or agent accepting a higher offer made by a prospective tenant.
Comments