Taking heed of mounting concerns over its potential implications, the NSW government has made the decision to abandon its push to outlaw rental bidding.
Zarah Torrazo reporting in Real Estate Business.
The Minns government has announced it will “press pause” on a proposed law that would have required real estate agents to notify all rental applicants if someone offers above the advertised rent.
A letter from Homelessness NSW and the Tenants’ Union of NSW, that was signed by the St Vincent de Paul Society of NSW, the Redfern Legal Centre, Shelter NSW and the Older Women’s Network NSW, asked the government to scrap the rent bidding section of its laws after they were proposed.
Notably, the group called on the government to outlaw the practice entirely by not allowing real estate agents to accept any offers above the advertised price of a property.