From December 17 2022 rent bidding will become illegal in NSW, this means real estate agents and private landlords cannot ask a potential tenant to make an offer higher than the advertised price.
This dodgy practice has been going on behind the scenes for many years and squeezes those more vulnerable out of the market without them knowing they missed out because someone said they will pay more.
If you’re a prospective tenant, you can no longer be asked to put in rental offers above the advertised price. Agents must also advertise all new listings with a fixed price from Saturday 17 December.
More info on renting in NSW 👉 bit.ly/RentingInNSW
NSW GOVERNMENT