Latest news with #REINSW
News.com.au
12-05-2025
- Business
- News.com.au
‘Pet bidding' on rise as renters give up animals to secure homes
A surge in tenants surrendering their right to keep pets is sparking alarm as renters, under pressure from a brutally competitive housing market, increasingly see pet ownership as a liability they can't afford. As vacancy rates plunge and recent tenancy reforms in NW shake investor confidence, a disturbing trend has emerged: renters offering to forgo pets altogether just to improve their chances of securing a lease. Industry leaders are warning that so-called 'pet bidding' — tenants voluntarily giving up their legal right to keep animals — is accelerating a silent but devastating decline in pet ownership among renters, especially in NSW. 'With extremely tight rental vacancies at the moment, tenants continue to offer to pay over-and-above the advertised rent, and the so-called ban on rent bidding has had no impact,' said Tim McKibbin, CEO of the Real Estate Institute of NSW. 'Now, we're seeing tenants offer to give up their right to have pets — even though the law entitles them to up to four.' The law, introduced as part of a raft of reforms to improve tenant protections, was meant to mirror changes made in Victoria. Under the legislation, landlords must accept up to four pets per tenancy unless they obtain formal approval to refuse. But as demand continues to outstrip supply, tenants are pre-emptively waiving these rights, hoping that the promise of a pet-free tenancy will sway landlords in their favour, Mr McKibbin reported. According to REINSW, while lease agreements cannot legally strip away pet rights, tenants are now submitting written statements with their applications saying, 'I will not apply to have pets, as is my right'. 'This would presumably occur in two ways,' Mr McKibbin said. 'By foregoing the right to have four pets, and reducing that to three or less. Or by foregoing their right to have a pet entirely.' There are now growing concerns that housing insecurity is making it nearly impossible for would-be pet owners to adopt, while existing pet owners are increasingly being forced to choose between housing and their animals. Critics say the problem is worsened by landlord regulations that, while well-intentioned, have pushed investors out of the market. This has reduced the supply of rentals, pressuring many tenants to extreme measures like giving up pets to compete for the scant supply of available homes. Mr McKibbin pointed to Victoria as an example of how increased regulations were driving out landlords. The state has had a raft of 'anti-landlord' laws in place since 2020 that, while intended to support tenants, have made it more difficult for investors to keep their properties, Mr McKibbin said. Victorian government data showed that the top reason for no-fault evictions across the state in 2023–24 was property sales — in 53 per cent of cases — as landlords exited a more regulated market. 'We are already seeing tenants going to extra lengths as they are faced with fewer options. Who knows what other new and desperate measures tenants will be forced to take?'
News.com.au
26-04-2025
- Business
- News.com.au
‘For solo use': Outrage over fine print in landlord's listing for two-bed apartment in Nelson Bay
A would-be landlord has been slammed on social media for trying to take advantage of a tight rental market by offering up their holiday home with a major twist. The female landlord is currently seeking a tenant for a 'fabulous' two-bedroom, two bathroom apartment in Nelson Bay for $380 per week. While renters get a stunning ocean view, they would only be allowed to stay in the place for around 85 per cent of the time – with the landlord returning when she wanted a break from Sydney. 'You will be expected to vacate the property so the owner can use the apartment for her sole use about 15 per cent of the time, about 30 days over six months, mainly Thursday, Friday and Saturday nights,' the listing states. The advertisement on goes on to say the place available for the 'right person' with the potential landlord expecting the apartment to be left in a 'great to come home condition'. The clause has provoked outrage over social media, with one person taking to Reddit to share an insight into the local offering. 'Apparently the last tenant was a single mum. The owner would ring her mid week and tell her she had to be out the next day for 4 days at a time,' the post continued. Another wrote: 'Cool, I'll happily pay 85 per cent of the rent too then.' A third questioned where tenants who took up the offer were supposed to live when ordered out. 'It was like $350 a week for only 4 days of it. No idea where they expect you to disappear off to every weekend,' the user wrote. The $380-a-week rent does not cover bills, with any potential tenant asked to sign on for a minimum three month stay. Despite coming with unusual terms and conditions, another renter said the landlord would likely find a tenant. 'Accommodation is stupidly scarce at the bay. I've no doubt this person will get someone to agree to this,' another Reddit poster said. 'It's really gotten way too out of hand.' According to the latest figures from the Real Estate Institute of NSW (REINSW) the state continues to show residential rental availability remain at a 'crisis level'. The research said rental market conditions remained dire in March, with REINSW chief executive, Tim McKibbin, stating that vacancy rates continue to 'hover at historically low levels'. 'Month after month, the story remains the same – rental availability is at crisis levels, stock is diminishing, and rents are increasing,' Mr McKibbin said. In regional NSW, the REINSW's findings indicated that vacancy rates decreased in many areas over the past month.
Perth Now
25-04-2025
- Business
- Perth Now
Landlord slammed for insane rental clause
A would-be landlord has been slammed on social media for trying to take advantage of a tight rental market by offering up their holiday home with a major twist. The female landlord is currently seeking a tenant for a 'fabulous' two-bedroom, two bathroom apartment in Nelson Bay for $380 per week. While renters get a stunning ocean view, they would only be allowed to stay in the place for around 85 per cent of the time – with the landlord returning when she wanted a break from Sydney. A listing on offers a 'fabulous' two-bed apartment in Nelson Bay for $380 per week, but there is a major catch to the listing. Flatmates Credit: Supplied In the listing, the landlord states tenants would only be allowed to stay for 85 per cent of the time due to the owner returning for her 'solo use'. Flatmates Credit: Supplied 'You will be expected to vacate the property so the owner can use the apartment for her sole use about 15 per cent of the time, about 30 days over six months, mainly Thursday, Friday and Saturday nights,' the listing states. The advertisement on goes on to say the place available for the 'right person' with the potential landlord expecting the apartment to be left in a 'great to come home condition'. A Sydney landlord has caused divide by making a big claim about Sydney The clause has provoked outrage over social media, with one person taking to Reddit to share an insight into the local offering. 'Apparently the last tenant was a single mum. The owner would ring her mid week and tell her she had to be out the next day for 4 days at a time,' the post continued. Another wrote: 'Cool, I'll happily pay 85 per cent of the rent too then.' The listing has stoked outrage over the shocking clause, with some questioning where tenants were supposed to live when ordered out for the time the landlord would return. Flatmates Credit: Supplied A third questioned where tenants who took up the offer were supposed to live when ordered out. 'It was like $350 a week for only 4 days of it. No idea where they expect you to disappear off to every weekend,' the user wrote. The $380-a-week rent does not cover bills, with any potential tenant asked to sign on for a minimum three month stay. Despite coming with unusual terms and conditions, another renter said the landlord would likely find a tenant. 'Accommodation is stupidly scarce at the bay. I've no doubt this person will get someone to agree to this,' another Reddit poster said. 'It's really gotten way too out of hand.' A landlord in New South Wales has gone viral on social media after posting an advertisement for a new tenant with a major twist. Flatmates Credit: Supplied According to the latest figures from the Real Estate Institute of NSW (REINSW) the state continues to show residential rental availability remain at a 'crisis level'. The research said rental market conditions remained dire in March, with REINSW chief executive, Tim McKibbin, stating that vacancy rates continue to 'hover at historically low levels'. 'Month after month, the story remains the same – rental availability is at crisis levels, stock is diminishing, and rents are increasing,' Mr McKibbin said. In regional NSW, the REINSW's findings indicated that vacancy rates decreased in many areas over the past month.
