The Minns government has announced it will 'press pause' on controversial rent bidding legislation amid concerns the ban could spark 'rental auctions' among desperate Sydney renters.
A key election promise by the Minns government to ban"secret" rent bidding has been shelved after advocacy groups warned the move could worsen the state's housing crisis.
The government's proposed legislation would have forced agents to notify applicants of offers above the listing price, providing an opportunity for other applicants to increase their bids. “We have been upfront: the minority Parliament won’t support every bit of every bill, and we’ll be pragmatic working through that," he said.
A committee last week heard from peak bodies including Tenants Unions, NCOSS, Homelessness NSW, and the Real Estate Institute, which warned the government's proposal would worsen the situation by"encouraging a transparent, regulated rental auction process".“This is an excellent outcome progressing an important debate and showing the value of consultation," said Leo Patterson Ross, CEO of the Tenants' Union of NSW.
Independent Alex Greenwich said the further deliberation of the bill"is a sign of good and consultative government".
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