Source: ABC News —
Hundreds of NSW real estate agents have been issued warnings for breaching new rent bidding rules and Fair Trading officials will now start attending open houses to stamp out illegal activity.
Last December the state government outlawed solicited rent bidding, which is when a landlord or agent invites, suggests or asks prospective tenants to increase their rent offer to secure a property.
But the new laws are being ignored by many in the industry.
To date, almost 1,000 rental advertisements have potentially breached the new laws and 306 real estate agents have been sent initial warning notices, according to the department of Fair Trading.
The listings in question used prohibited terms such as “offers from”, or rent “by negotiation”.
These were most commonly seen in listings for properties in:
