The opposition is also promising reform that would require landlords to identify a reason from a set list of reasonable grounds to end a lease,amid reports of tenants being evicted from properties for trying to enforce their contractual rights or dispute exorbitant rent rises.
Data from Domain’s September 2022 quarterly rental report showed the average rent for a house in Sydney is $650,up from $570 in September 2021. The average rent for a unit increased from $480 to $550 in the same time period.
While the process of transferring bonds between properties was technically introduced in legislation in 2018,NSW Labor leader Chris Minns said this was not occurring in practice and renters were being faced with upfront costs of thousands of dollars to secure a place to live.
“Anyone who rents in Sydney knows just how anxious and challenging a process it can be to find suitable accommodation,never mind the significant costs associated with moving,” he said.
“This is a sensible cost of living measure to help ease the pressure on the over 30 per cent of people in NSW currently renting.”
Under the proposal,the tenant’s new landlord would receive a certificate from the NSW Rental Bond Board,which would allow an already received bond to be held on trust for the new property. Claims for property damage and differences in the amount of bond required at each property would then be managed through the board,allowing for tenants to pay the difference to cover their new bond.
Leo Patterson Ross,CEO of the NSW Tenants Union,said his organisation supported the introduction of rental bond transfers,with a similar scheme already implemented in Queensland.