Mr EDMOND ATALLA (Mount Druitt) (12:05): My question is addressed to the Minister for Better Regulation and Fair Trading. Will the Minister update the House on how the New South Wales Government is making renting fairer in New South Wales?
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) (12:06): I thank the member for Mount Druitt for his question and for his great interest in advocating for renters in his electorate. The 39 per cent of households who are renters in his electorate would be keen to hear the answer about what the Minns Labor Government is doing for them. It is not only in Western Sydney. It is also the 46 per cent in the North Shore electorate, the 42 per cent in the Ryde electorate and the 30 per cent in the electorates of Coffs Harbour and Tamworth.
The SPEAKER: The member for North Shore will come to order.
Mr ANOULACK CHANTHIVONG: More than 2.2 million people across New South Wales electorates are renters. The Labor Government knows that more people are renting and that they are renting for longer. That is why we need to update our rental laws to make sure that they strike the right balance between renters and landlords. The Government will soon introduce its bill, which will see some of the biggest changes in the rental market in a decade. We will end no-grounds evictions by requiring landlords to have a valid reason to end a periodic or fixed-term lease, and we will make it easier for people to have pets in rentals. Those changes will help renters turn their rental property into a home. I know that Jinxy is relying on the member for Ryde to support our bill.
We will also take practical steps to help relieve household budget pressures for renters. The Government is ensuring that renters can pay their rent easily and without being charged extra fees. Every dollar counts for every renter. Those admin fees can add up to hundreds of dollars a year. We will tighten the law to require landlords and agents to offer electronic methods of payment that are free, such as electronic funds transfer or the Commonwealth's Centrepay system. That will no doubt be a welcome relief for many renters. In fact, 92 per cent of respondents to our survey support the reform, including 82 per cent of landlords who responded.
The SPEAKER: I call the member for North Shore to order for the third time.
Mr ANOULACK CHANTHIVONG: As another cost-of-living measure, the Government will ensure that renters do not have to pay for their own background checks when they apply for a rental property. We are not stopping there. We are also making an $8.4 million investment to set up the Rental Taskforce within NSW Fair Trading. The taskforce will be made up of investigators, inspectors and a support team to help renters and to act on serious breaches of our rental laws. On top of that, this week we launched Rent Check, which is a new free website that allows renters to check whether the rent they are being asked to pay is fair. Rent Check uses the latest bond data to provide an accurate and comprehensive breakdown of market prices. That transparency helps renters better understand the market to make more informed decisions. [Extension of time]
Landlords can set more competitive prices by using the rental check tool, making rents fairer and enabling landlords to attract good tenants. The Minns Labor Government is also developing the nation's first portable bonds scheme. We have committed $6.6 million in this year's budget to develop and deliver the scheme, which will provide relief to cost‑of‑living pressures by allowing renters to digitally transfer their existing bond to a new property. All of these measures are designed to reduce the stress of renting in a tight market and to ease the financial pressure on many renters. We know that tackling the housing crisis must be done on multiple fronts. We are overhauling the planning system and investing in social housing. We are uplifting the standards in the building sector and updating strata laws to boost confidence in strata investment, and we are delivering on our election commitments to improve rental laws.
There is no denying that the current rental market is tight and it is a very tough time for renters. We have historically low vacancy rates and a system that leaves renters vulnerable to being evicted at any time. Renters have been calling for change for a long time. Unlike members opposite, the Minns Labor Government has listened and, not only that, it has acted. We have developed a broad package that will make renting fairer to give renters peace of mind and to give landlords a clearer set of rules. The Government has got the balance right. I urge all members in this place to support our comprehensive rental package because 2.2 million renters in across all our electorates are counting on us to make their lives better.
