As part of a sweeping reform to the rental laws in NSW, the state’s government has introduced a new cap to rent increases. In what is sure to be a devastating blow to the already-struggling landlords of NSW, property owners will now only be allowed one measly unlimited rent increase a year. Oh the humanity!
NSW Premier Chris Minns‘ Government has been on a spree of soft launching rental reforms over the past few months, as part of their election commitment to create a more equal balance between renters and landlords.
Previous elements of the reforms include scrapping no-grounds evictions, making it easier for tenants to keep pets, and ensuring they have a free way to pay rent. And for the 2.2 million NSW folks who rent, these changes are all welcome improvements.
‘Cos let’s be real, literally everything is an improvement of the current power balance, where if a landlord wants something… they get it. AKA: as balanced as a one-legged elephant.
Today the Minns Government announced it would be introducing a new component to the reforms to NSW Parliament, adding a cap of rent increases to one per year.
“Current protections against multiple rent hikes do not apply to fixed term leases of less than two years, or when there is a change in the type of lease, such as from periodic to fixed term,” read a statement from the Minns Government.
“The changes limiting rent rises to one per year will make renting in NSW fairer, simpler, and more certain, and will align NSW laws with the National Cabinet’s Better Deal for Renters.”
The Minister for Better Regulation and Fair Trading, Anoulack Chanthivong, said the change would “provide greater certainty and protection for renters” regardless of their type of lease.
“By ending no grounds evictions, making it easier to have pets, and ensuring people can pay their rent without hidden charges, these landmark reforms will make it fairer for the state’s 2.2 million renters,” said Chanthivong.
“These reforms are focussed on getting the balance right. We are now one step closer to a fairer and more affordable rental market in NSW.”
One step closer, in the same way that every time I watch an episode of House I get one step closer to getting a medical degree.
Because even though a cap on rent increases has been heavily requested by renters and tenant advocacy groups, a limit on the amount an increase can be is still missing.
So while there will undoubtedly be some disgruntled NSW landlords who whine that they’re limited to one rent increase a year, they can rest assured in the knowledge that their sole increase can still be as large as they want.
Gotta love that balanced rental protection. But oh well, renters can’t be choosers.
Lead Image: Getty
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