Ms CHARISHMA KALIYANDA (Liverpool) (12:00): My question is addressed to the Minister for Better Regulation and Fair Trading. Can the Minister update the House on how the Minns Labour Government is making renting fairer, including by saving tenants money when transferring their bond?
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) (12:00): Yes, I can absolutely inform the House of the changes that the Government has made to make renting fairer for the people of New South Wales. I thank the good member for Liverpool for her question. She is a hardworking advocate for the thousands of renters in her electorate. In fact, about 40 per cent of her electorate are renters, so the issue is no doubt close to her heart.
There are 2.3 million renters under enormous pressure in a relatively tight housing market. As we all know, moving house is physically exhausting and financially expensive. Coming up with thousands of dollars for a second bond whilst waiting for the first bond to clear adds to that financial stress and can even break the bank for many renters. The Government understood that renters were frustrated and wanted a fairer deal. That is why the Minns Labor Government delivered on its commitment to give renters Smart Rental Bonds. Instead of saving thousands of dollars to meet the cost of two bonds, renters can now digitally transfer one bond to the next property as they move, saving them up to $4,000. That is a significant saving for renters in New South Wales.
That is just the latest way the Government is saving renters money at a time of significant stress. We have delivered the biggest changes in a generation. The rental system is fairer and better because of our Government's changes, while those opposite have proven time and time again that they do not care about renters. It has been a month since Smart Rental Bonds were rolled out statewide well ahead of schedule.
The SPEAKER: Order! The member for Oatley will remove himself from the Chamber under Standing Order 249A until the end of question time.
[Pursuant to standing order the member for Oatley left the Chamber at 12:02.]
The SPEAKER: I do not need any assistance from the member for Riverstone. I call the member for Riverstone to order for the second time.
Mr ANOULACK CHANTHIVONG: I wonder how the Smart Rental Bonds scheme is going? It is a smash hit. Let me present some facts. More than 2,300 renters have used the Smart Rental Bonds system and more than $6 million have been transferred. Renters on the Central Coast and in Parramatta and Penrith are leading the charge, and no doubt many more renters across every local government area will use Smart Rental Bonds when they move home. Under the Minns Labor Government, the days of the dreaded double bonds are over. We want renters to take advantage of this wonderful system to help them move house each and every time. Let me tell you how it works. It is actually very easy. [Extension of time]
Renters log in to Rental Bonds Online and opt in to transfer the bond. If their new bond is high, they pay the difference. If it is cheaper, they get money back. If there is a claim on the bond, the Government will pay the landlord upfront, so there are no financial risks. Nothing changes for the landlord because the renters pay back the Government. Smart Rental Bonds is better for renters and better for landlords as well. Under the Minns Labor Government, we can be sure of one thing: Rental promises made are rental promises kept and rental promises delivered. Those opposite cannot say the same about rental reform. They have broken the promises given to renters. They promised a rental bond rollover scheme back in 2018, but they never delivered it. They had five years to deliver it and they never did. Only a Labor government would deliver practical support for renters in New South Wales.
Our work to make renting fairer and save renters money does not end with Smart Rental Bonds. In three years, the changes the Government made have been transformational. It has banned no‑grounds evictions, limited rent increases to once per year, banned fees for background checks and mandated fee‑free ways to pay your rent. It has made it easier to have pets in your rental home and made changes to support domestic violence victim‑survivors. It has passed legislation to protect a renter's privacy and stop misleading AI rental ads, and established the NSW Rental Taskforce to enforce all these changes. Only the Minns Labor Government has delivered for renters and made renting fairer for the people of New South Wales.
