Dr MARJORIE O'NEILL (Coogee) (11:50): My question is to the Minister for Better Regulation and Fair Trading. Can the Minister update the House on the Minns Labor Government's work to create a fairer system for the millions of renters across New South Wales?
The SPEAKER: I call the member for Oatley to order for the first time.
Mr ANOULACK CHANTHIVONG (Macquarie Fields—Minister for Better Regulation and Fair Trading, Minister for Industry and Trade, Minister for Innovation, Science and Technology, Minister for Building, and Minister for Corrections) (11:50): I thank the member for Coogee for her question and for her strong advocacy for the 48 per cent of households in her electorate that are renters. I am thrilled that on 24 October this Parliament passed the most comprehensive suite of rental reforms we have seen in over a decade. The historic legislative reforms follow through on Labor's election commitment to improve rental laws and strike a balance between the interests of owners and the millions of renters across New South Wales.
The reforms will mean that more than 2.3 million renters across our State will soon enjoy the following benefits: No grounds evictions will be banned; rent increases will now be limited to once a year; it will be easier to have pets in rentals; renters must have a fee-free way to pay their rent; and making renters pay for their own background checks will now be banned. The banning of no grounds evictions will ensure housing security for renters, allowing them to make a house a home. The reforms will also give landlords greater clarity on when they can end a fixed-term or periodic lease based on clear, straightforward reasons. The historic reforms from the Minns Labor Government will also make it easier to have pets in rentals, with landlords only able to decline a renter's application to keep a pet on certain grounds. Renters will also have free ways to pay their rent by requiring property owners and agents to offer zero-fee ways to pay their rent, such as a simple bank transfer or the Commonwealth Centrepay.
I am extremely proud to inform the House that the new laws limiting rent increases to once a year and the ban on renters having to pay for their background checks have actually commenced. The ban on no grounds evictions and the rules making it easier to have pets in rentals will start once the Residential Tenancies Regulation 2019 has been amended in early 2025. The Residential Tenancies Amendment Act 2024 also complements key initiatives already announced to rebalance the rental market, such as the $6.6 million we are investing to develop the nation's first Portable Rental Bonds Scheme. That reform will mean eligible renters can move homes and take their rental bond with them by digitally transferring their existing bond to their next property. We have also established Rent Check, a new free website that renters can use to help check whether the rent they are paying is fair. We have also funded the Rental Taskforce within NSW Fair Trading. The Government will invest $8.4 million for a taskforce with inspectors and support teams to help renters and act on serious breaches of rental laws. [Extension of time]
But I haven't finished—there's more, Mr Speaker! The Minns Labor Government is providing even more support to renters through a massive $4 million funding boost to the Tenants Advice and Advocacy Service, which is an extra million dollars a year over the next four years. That excellent service comprises a network of 21 local not-for-profit organisations that help tenants to understand their rights, support them during negotiations and in resolving disputes, and assist and advocate for them at NCAT. It is a very worthy service for the millions of renters across New South Wales. Those landmark reforms are bringing the New South Wales rental market into the twenty-first century.
The reforms also get the balance right by providing more security for renters and greater certainty for landlords. For too long, landlords and renters have been pitted against each other. But we know that landlords want good tenants and good tenants want good landlords. A better and fairer rental market benefits everyone. The reforms are needed to help families build their lives around a home that they know they will not be asked to leave without reason. The reforms are needed to stop young people abandoning this great State because they cannot take another rental increase. The reforms are needed because pets are part of the family, whether someone is a homeowner or a renter. We are delivering a fairer balance and greater certainty to the New South Wales rental market at a time when it is sorely needed. In closing, I thank all members in this House who supported the once‑in‑a‑generation reforms which will make a huge difference to the millions of renters in New South Wales.
