Energy-hungry rental homes are costing NSW tenants more than $1 billion every year in extra bills, an analysis has found.
Tenant-driven grassroots organisation Better Renting says there are 712,000 energy-inefficient rental properties in NSW, costing each household more than $2700 annually to warm their home in winter and cool it in summer.
With cost of living concerns on the rise and rents skyrocketing in NSW, Better Renting executive director Joel Dignam said politicians should prioritise improving the energy performance of rental properties.
"Every year, inefficient rental homes mean that renters are missing out on about $1.2 billion in benefits. If these people were owners, government would be on this in a flash," he said on Tuesday.
"But because they are renters, this issue is being ignored."
Governments should step in with tighter energy regulations to protect millions of NSW renters from avoidably high energy costs, the report said.
"What our analysis shows is that there is a free lunch here: bringing up substandard rental properties will help renters with heating and cooling, with benefits worth thousands of dollars per household."
Retrofitting homes, not just ones damaged by floods in recent natural disasters, should be mandated, the report said.
These weather-proofing features such as ceiling insulation, draught sealing and window treatments would reduce energy consumption.
The NSW government announced on Monday it would ban real estate agents from instigating bidding wars between prospective renters wanting to secure a lease on a property.
Opposition Leader Chris Minns said Labor would hold a roundtable in January bringing together the NSW Tenants Union, the Real Estate Institute of NSW and others to discuss what was needed to make renting fairer.
About one-third of NSW people live in rented properties and rents in Greater Sydney have increased by up to 28 per cent in the past year.
The roundtable would find solutions for the crisis renters were facing, Labor spokeswoman for better regulation Courtney Houssos told reporters on Tuesday.
Labor has committed to passing legislation that would oblige realtors to disclose to prospective tenants when a higher bid was made on a rental property.
"If an unsolicited offer is received, then it will have to be communicated with all of the other applicants," Ms Houssos said.
"We know that this is happening in practice. We think this is really important that we regulate it."
If elected next year, NSW Labor is also promising to appoint a rental commissioner to be an advocate and voice for tenants.
