A budget investment in a fairer and more modern rental market

NSW Gov

The 2024-25 NSW Budget will establish a NSW Rental Taskforce to help deliver the Minns Labor Government’s plan to build better communities and a fairer rental market.

An $8.4 million investment into the work of the Rental Commissioner will deliver investigators, inspectors and support teams to engage with renters, target dodgy agents and act on serious breaches of rental laws.

The Taskforce in Fair Trading, led by the Rental Commissioner, will be given a mandate to crack down on poor quality rental homes and bad behaviour from dodgy agents and owners.

The Rental Taskforce will be one of the biggest teams within NSW Fair Trading, cementing protections for renters as a key priority for the state’s consumer affairs regulator.

The Taskforce will conduct targeted inspections and work with Fair Trading to act on breaches. It will use intelligence and market analysis to inform its work.

NSW has the largest rental market in Australia, with more than two million renters. The state has more than one million rented properties owned by around 620,000 landlords.

The Minns Labor Government has laid the groundwork for a fairer rental market by appointing the first ever NSW Rental Commissioner and starting the process to deliver carefully balanced reforms.

The 2024-25 Budget ensures this priority can be delivered.

This is part of the Minns Labor Government’s plan to build better, safer communities for NSW.

A plan to protect renters and reform the market.

A plan to build a better NSW.

Minister for Better Regulation and Fair Trading Anoulack Chanthivong said:

“The last 12 months has laid the foundation for future reform, and the NSW Budget paves the way to implementing change.

“We’re in a housing crisis in NSW and bad players can make things even worse for renters.

“This investment means renters in NSW can be confident we’re moving forward with fairer rules that can be enforced.”

NSW Rental Commissioner Trina Jones said:

“The Rental Taskforce is an essential part of the work towards achieving a fair, quality and affordable rental market.

“We are listening to the needs and concerns of renters, landlords and industry, and working together to create a better renting experience in NSW.

“The Taskforce made up of specialists will support our work across Fair Trading to better enforce rental laws and bolster public confidence in the state’s rental protections.”

/Public Release. View in full here.