1 00:00:01,200 --> 00:00:03,520 Speaker 1: My name is Lily Maddon and I'm a proud Arunda 2 00:00:03,760 --> 00:00:08,520 Speaker 1: Bungelung Carcuttin woman from Gadighl Country. The Daily oz acknowledges 3 00:00:08,600 --> 00:00:10,800 Speaker 1: that this podcast is recorded on the lands of the 4 00:00:10,800 --> 00:00:14,360 Speaker 1: Gadighl people and pays respect to all Aboriginal and Torres 5 00:00:14,360 --> 00:00:17,279 Speaker 1: Strait Island and nations. We pay our respects to the 6 00:00:17,320 --> 00:00:20,079 Speaker 1: first peoples of these countries, both past and present. 7 00:00:25,720 --> 00:00:28,400 Speaker 2: Good morning and welcome to the Daily os. It's Thursday, 8 00:00:28,440 --> 00:00:31,520 Speaker 2: the eighteenth of May. I'm Sam, I'm Zara. This will 9 00:00:31,560 --> 00:00:34,880 Speaker 2: not come as a surprise to anyone renting, but Australia 10 00:00:35,000 --> 00:00:37,800 Speaker 2: is facing its tightest ever rental market. 11 00:00:38,120 --> 00:00:42,200 Speaker 3: It's an absolute dumbstuffire everywhere. 12 00:00:42,440 --> 00:00:44,600 Speaker 1: It's pretty fucked At the moment. 13 00:00:44,720 --> 00:00:48,200 Speaker 4: The carpets around the skirting boards were black with mold. 14 00:00:48,840 --> 00:00:52,080 Speaker 4: There was a tree growing into the toilet from outside. 15 00:00:52,440 --> 00:00:57,080 Speaker 4: It was not liveable and it went so quickly. 16 00:00:57,480 --> 00:01:00,760 Speaker 2: So when it comes to rental increases, rent bidding and more, 17 00:01:01,200 --> 00:01:04,680 Speaker 2: what actually are your rights and is there any relief 18 00:01:04,760 --> 00:01:07,199 Speaker 2: on the way. We'll let you know in the deep dive. 19 00:01:07,319 --> 00:01:09,680 Speaker 2: But first, Sarah, what's making headlines. 20 00:01:13,720 --> 00:01:16,880 Speaker 5: Next week's Quad Later summit in Sydney has been canceled 21 00:01:17,000 --> 00:01:19,760 Speaker 5: after US President Joe Biden pulled out of the event. 22 00:01:20,360 --> 00:01:22,800 Speaker 5: Biden will instead have to return back home to the 23 00:01:22,920 --> 00:01:25,959 Speaker 5: US to deal with those major issues relating to the 24 00:01:26,000 --> 00:01:28,959 Speaker 5: debt ceiling that we spoke about last week. It hasn't 25 00:01:28,959 --> 00:01:32,679 Speaker 5: been confirmed if Indian Prime Minister Narendramodi or Japanese PM 26 00:01:32,760 --> 00:01:34,760 Speaker 5: Forumio Kashita will still make the trip. 27 00:01:36,840 --> 00:01:39,800 Speaker 2: Police believe the deadly blaze at a hostel in Wellington, 28 00:01:39,840 --> 00:01:43,119 Speaker 2: New Zealand could have been an arson attack. The update 29 00:01:43,160 --> 00:01:46,399 Speaker 2: came on Wednesday afternoon, with police confirming they will look 30 00:01:46,440 --> 00:01:49,160 Speaker 2: at multiple suspects who could have been involved in the fire. 31 00:01:49,600 --> 00:01:51,720 Speaker 2: A homicide inquiry has now been launched. 32 00:01:54,040 --> 00:01:56,400 Speaker 5: The driver of the truck that crashed into a bus 33 00:01:56,480 --> 00:01:59,960 Speaker 5: carrying forty five children has been charged with dangerous driving 34 00:02:00,120 --> 00:02:03,640 Speaker 5: causing serious injury. The crash occurred on Tuesday afternoon in 35 00:02:03,680 --> 00:02:06,880 Speaker 5: Western Melbourne and resulted in ten children being admitted to 36 00:02:06,960 --> 00:02:10,520 Speaker 5: hospital and some having to undergo amputations. The bus driver 37 00:02:10,560 --> 00:02:11,799 Speaker 5: suffered minor injuries. 38 00:02:13,720 --> 00:02:16,880 Speaker 2: And today's good news, same sex couples in Taiwan will 39 00:02:16,880 --> 00:02:19,400 Speaker 2: now have the full rights to adopt a child together 40 00:02:19,480 --> 00:02:23,079 Speaker 2: following the passing of new laws this week, only heterosexual 41 00:02:23,080 --> 00:02:25,880 Speaker 2: couples and single people were legally allowed to adopt children 42 00:02:25,919 --> 00:02:28,960 Speaker 2: they were not biologically related to in Taiwan, meaning that 43 00:02:29,000 --> 00:02:31,680 Speaker 2: only one parent in the same sex couple could formerly 44 00:02:31,720 --> 00:02:35,640 Speaker 2: be the child's legal parent. It comes after Taiwan became 45 00:02:35,720 --> 00:02:38,799 Speaker 2: the first Asian jurisdiction to legalize same sex marriage back 46 00:02:38,840 --> 00:02:44,560 Speaker 2: in twenty nineteen. We've all heard that rental prices are 47 00:02:44,680 --> 00:02:48,720 Speaker 2: up and availability of rentals is down, but we wanted 48 00:02:48,720 --> 00:02:50,600 Speaker 2: to know a little bit more about what's been going 49 00:02:50,639 --> 00:02:53,880 Speaker 2: on and how it's impacting you in the TDA audience. 50 00:02:54,120 --> 00:02:56,680 Speaker 5: So Sam, we put out a poll because we know 51 00:02:56,760 --> 00:02:58,360 Speaker 5: that this is a big issue. We know that our 52 00:02:58,400 --> 00:03:01,959 Speaker 5: audience cares a lot, and to say it was unsurprising 53 00:03:02,080 --> 00:03:06,320 Speaker 5: that we were completely inundated with messages about rising prices. 54 00:03:06,720 --> 00:03:09,760 Speaker 2: Definitely, we heard a lot of stories like this one 55 00:03:09,760 --> 00:03:11,520 Speaker 2: from Denzil Gooday friends. 56 00:03:11,680 --> 00:03:15,880 Speaker 6: So when I lived in Darwin last year, my rent. 57 00:03:15,680 --> 00:03:19,880 Speaker 7: Spiked from for eighty to five twenty when we signed 58 00:03:19,919 --> 00:03:21,040 Speaker 7: an additional six. 59 00:03:20,880 --> 00:03:23,640 Speaker 2: Months and Denzil is not alone. At the time of 60 00:03:23,680 --> 00:03:27,600 Speaker 2: recording this, ninety five point seven percent of respondents to 61 00:03:27,639 --> 00:03:30,600 Speaker 2: our survey said they have seen the rent increase over 62 00:03:30,600 --> 00:03:34,200 Speaker 2: the last year. That's an astonishing statistic, and one in 63 00:03:34,320 --> 00:03:37,600 Speaker 2: five people had actually been forced to move because of 64 00:03:37,600 --> 00:03:38,360 Speaker 2: a rent increase. 65 00:03:38,560 --> 00:03:41,000 Speaker 6: They wanted to increase it by two hundred dollars to 66 00:03:41,080 --> 00:03:44,320 Speaker 6: nine hundred and fifty and we just couldn't afford that, 67 00:03:44,360 --> 00:03:47,360 Speaker 6: and as a result we've had to move cities. Sydney's 68 00:03:47,440 --> 00:03:49,000 Speaker 6: no longer affordable for us anymore. 69 00:03:49,160 --> 00:03:51,760 Speaker 2: Now, this is not a problem unique to the TDA audience. 70 00:03:51,800 --> 00:03:54,480 Speaker 2: It's supported by other data, with the latest prop Track 71 00:03:54,520 --> 00:03:57,760 Speaker 2: rental report saying that Capital City rents in the last 72 00:03:57,840 --> 00:04:00,280 Speaker 2: quarter are up thirteen percent year on year. 73 00:04:00,480 --> 00:04:04,240 Speaker 5: Before we go on what actually are the rules here? 74 00:04:04,480 --> 00:04:06,480 Speaker 5: I think I want to know how much a real 75 00:04:06,600 --> 00:04:11,040 Speaker 5: estate agent's and owners landlords actually allowed to increase the 76 00:04:11,080 --> 00:04:13,480 Speaker 5: rent because we're hearing these stories, but I don't often 77 00:04:13,520 --> 00:04:15,000 Speaker 5: hear about what the actual rules are. 78 00:04:15,360 --> 00:04:18,880 Speaker 2: Well, it's complicated and it differs in different states and territories, 79 00:04:19,040 --> 00:04:21,440 Speaker 2: but there are some basic principles that remain the same 80 00:04:21,480 --> 00:04:25,000 Speaker 2: across the country. Ultimately, if you're on a fixed term 81 00:04:25,040 --> 00:04:28,760 Speaker 2: rental contract, so you've got to set period of your lease, 82 00:04:29,120 --> 00:04:32,320 Speaker 2: your landlord can't generally raise your rent unless your contract 83 00:04:32,360 --> 00:04:35,720 Speaker 2: has specific clauses that allow for it. But if you're 84 00:04:35,760 --> 00:04:38,200 Speaker 2: on a periodic contract, so a month to month is 85 00:04:38,240 --> 00:04:41,000 Speaker 2: the most common example there, or that fixed contract of 86 00:04:41,040 --> 00:04:44,039 Speaker 2: yours is up for AMWLE, that's when your landlord can 87 00:04:44,120 --> 00:04:47,320 Speaker 2: increase your rent. Legally, there are limits on how often 88 00:04:47,360 --> 00:04:50,240 Speaker 2: this can happen, but it's only in act that there 89 00:04:50,240 --> 00:04:52,560 Speaker 2: are limits on how much your rent can go up by. 90 00:04:53,200 --> 00:04:54,800 Speaker 2: We're going to throw a link to a post we 91 00:04:54,880 --> 00:04:57,120 Speaker 2: did with more of the specifics in the show notes 92 00:04:57,160 --> 00:04:57,719 Speaker 2: if you need it. 93 00:04:58,480 --> 00:05:00,680 Speaker 5: One of the things that we often talk about on 94 00:05:00,720 --> 00:05:04,000 Speaker 5: this podcast is the idea of supply and demand, and 95 00:05:04,040 --> 00:05:06,080 Speaker 5: it's an issue that is also at the heart of 96 00:05:06,560 --> 00:05:10,520 Speaker 5: rising prices. It's a lack of supply right because if 97 00:05:10,520 --> 00:05:14,919 Speaker 5: there were more rentals available, that would drive prices down totally. 98 00:05:14,960 --> 00:05:17,839 Speaker 2: There is this one endemic issue that we know is 99 00:05:17,880 --> 00:05:20,360 Speaker 2: holding back young Australians who are trying to find an 100 00:05:20,360 --> 00:05:23,680 Speaker 2: affordable rental. There's some new stats from prop track that 101 00:05:23,760 --> 00:05:26,160 Speaker 2: analyzed rentals on real estate dot com do the U 102 00:05:26,800 --> 00:05:29,560 Speaker 2: and they found a ten percent month on month decrease 103 00:05:29,720 --> 00:05:33,400 Speaker 2: in total listings available last month. And this is what 104 00:05:33,440 --> 00:05:36,080 Speaker 2: we heard from the audience. It's so competitive at the 105 00:05:36,080 --> 00:05:39,920 Speaker 2: moment that people are actually upping the advertised price just 106 00:05:39,960 --> 00:05:41,679 Speaker 2: to get their offer over the line. 107 00:05:41,720 --> 00:05:43,359 Speaker 8: They told us it was going to be listed for 108 00:05:43,400 --> 00:05:45,360 Speaker 8: five point fifty, and even before they put it on 109 00:05:45,400 --> 00:05:48,480 Speaker 8: the market, they told us that someone had bid up 110 00:05:48,520 --> 00:05:52,480 Speaker 8: to six twenty, so we were forced to bid six 111 00:05:52,640 --> 00:05:55,240 Speaker 8: twenty five, even though it wasn't even on the market. 112 00:05:56,320 --> 00:05:58,080 Speaker 9: The real estate agent came back to us and said 113 00:05:58,080 --> 00:06:00,680 Speaker 9: they really liked our application, but so had put in 114 00:06:00,760 --> 00:06:03,400 Speaker 9: an offer for eight fifty, which one hundred dollars more 115 00:06:03,600 --> 00:06:06,520 Speaker 9: than the going price. We kept our offer at seven 116 00:06:06,640 --> 00:06:08,480 Speaker 9: fifty and then we did get the place. 117 00:06:09,320 --> 00:06:11,799 Speaker 5: I do want to talk about that kind of rent 118 00:06:11,800 --> 00:06:14,960 Speaker 5: bidding because I know that both the ACT and New 119 00:06:15,000 --> 00:06:18,839 Speaker 5: South Wales have recently introduced new rules restricting the practice, 120 00:06:19,200 --> 00:06:24,839 Speaker 5: and that protections already existed in Victoria, Queensland and Tasmania. 121 00:06:24,880 --> 00:06:27,600 Speaker 5: Why is this still happening if there are those protections 122 00:06:27,640 --> 00:06:28,080 Speaker 5: in place. 123 00:06:28,279 --> 00:06:30,200 Speaker 2: Well, I think for many people who are answering the 124 00:06:30,279 --> 00:06:32,480 Speaker 2: questions yesterday, you don't know you're in a rent bidding 125 00:06:32,560 --> 00:06:35,640 Speaker 2: practice until after the actual practice itself. 126 00:06:35,680 --> 00:06:37,039 Speaker 5: I think a lot of people also don't know that 127 00:06:37,200 --> 00:06:40,120 Speaker 5: term fact that there is a name for that happening well. 128 00:06:40,000 --> 00:06:41,600 Speaker 2: It's not like an auction where you can stand around 129 00:06:41,640 --> 00:06:43,719 Speaker 2: and look at everyone else who's bidding. This is often 130 00:06:43,760 --> 00:06:46,239 Speaker 2: a process done over the phone or over a number 131 00:06:46,240 --> 00:06:49,560 Speaker 2: of days. Although new legislation which has been introduced to 132 00:06:49,600 --> 00:06:52,520 Speaker 2: the New South Wales Senate could force agents to disclose 133 00:06:52,600 --> 00:06:56,400 Speaker 2: when they've received offers above the advertised price if it passes. 134 00:06:56,680 --> 00:06:59,960 Speaker 2: But interestingly, the messages that you just heard were describing 135 00:07:00,160 --> 00:07:02,800 Speaker 2: rental bidding situations that took place in New South Wales 136 00:07:02,800 --> 00:07:06,120 Speaker 2: before December of last year. The rule change on rental 137 00:07:06,120 --> 00:07:09,480 Speaker 2: bidding only came into effect in New South Wales' last December, 138 00:07:09,880 --> 00:07:11,960 Speaker 2: and that means that if those situations that we just 139 00:07:12,040 --> 00:07:15,480 Speaker 2: heard about were replicated right now, they would now be illegal. 140 00:07:16,200 --> 00:07:18,840 Speaker 2: This would also be the case in the places you've 141 00:07:18,880 --> 00:07:22,920 Speaker 2: mentioned where rent bidding rules already apply, and South Australia 142 00:07:23,040 --> 00:07:26,600 Speaker 2: is currently in the process of introducing similar legislation. The 143 00:07:26,640 --> 00:07:29,840 Speaker 2: issue is, while these laws generally aim to stop real 144 00:07:29,920 --> 00:07:33,760 Speaker 2: estate agents actively asking people to up their offer on rentals, 145 00:07:34,440 --> 00:07:38,000 Speaker 2: they don't really do much to stop people Renters from 146 00:07:38,080 --> 00:07:41,440 Speaker 2: volunteering are higher offer themselves because they are so scared 147 00:07:41,520 --> 00:07:44,000 Speaker 2: of being locked out of the rental market and there 148 00:07:44,000 --> 00:07:46,520 Speaker 2: does seem to be a lot of this happening. One 149 00:07:46,560 --> 00:07:49,080 Speaker 2: in three respondents Sarah, that's a heck of a lot 150 00:07:49,080 --> 00:07:51,960 Speaker 2: of people to our survey said they offered more than 151 00:07:52,000 --> 00:07:53,400 Speaker 2: the advertised weekly rent. 152 00:07:53,680 --> 00:07:57,280 Speaker 7: When we applied for this place, the rent was offered 153 00:07:57,360 --> 00:08:01,560 Speaker 7: at a seven hundred I believe, and we offered fifty 154 00:08:01,600 --> 00:08:05,720 Speaker 7: dollors above the renting price and that's been pretty consistent. 155 00:08:05,880 --> 00:08:08,000 Speaker 3: So my partner and I we live in Brisbane and 156 00:08:08,040 --> 00:08:10,960 Speaker 3: we just moved into a new apartment. It took ages 157 00:08:11,080 --> 00:08:14,640 Speaker 3: to find one, an affordable one. So yeah, it was 158 00:08:14,840 --> 00:08:17,560 Speaker 3: really really difficult and we were looking for almost six months. 159 00:08:17,840 --> 00:08:21,480 Speaker 3: We always offered more end, even though it's technically too much, 160 00:08:22,200 --> 00:08:27,120 Speaker 3: but yeah, it's an absolute dumb stuff fire everywhere. 161 00:08:27,880 --> 00:08:29,640 Speaker 2: So the important thing to know with rent bidding is 162 00:08:29,640 --> 00:08:32,240 Speaker 2: that there are laws in place, and you should check 163 00:08:32,280 --> 00:08:35,000 Speaker 2: what the rules are in whatever state and territory you're in. 164 00:08:35,559 --> 00:08:37,520 Speaker 2: But if you're in a state and territory that doesn't 165 00:08:37,520 --> 00:08:40,760 Speaker 2: allow real estate agents to encourage bidding, and you also 166 00:08:40,840 --> 00:08:43,320 Speaker 2: have an experience of that happening, we definitely want to 167 00:08:43,320 --> 00:08:46,560 Speaker 2: hear about it. So our dms on Instagram are always open. 168 00:08:46,760 --> 00:08:51,679 Speaker 5: Rent bidding is certainly making the situation worse by artificially 169 00:08:51,720 --> 00:08:55,440 Speaker 5: inflating those prices, but that doesn't actually address the root 170 00:08:55,480 --> 00:08:57,439 Speaker 5: cause of the problem, as I said, which is. 171 00:08:57,440 --> 00:08:59,440 Speaker 2: A lack of supply, not enough houses. 172 00:08:59,720 --> 00:09:03,120 Speaker 5: Is the government doing anything to actually increase the availability 173 00:09:03,120 --> 00:09:04,280 Speaker 5: of rentals in Australia. 174 00:09:04,440 --> 00:09:07,160 Speaker 2: So we got that budget last week and there were 175 00:09:07,200 --> 00:09:09,520 Speaker 2: some new tax benefits for people who invest in the 176 00:09:09,559 --> 00:09:13,080 Speaker 2: construction of developments which are built specifically to be rentals. 177 00:09:13,600 --> 00:09:16,400 Speaker 2: The budget also allows an additional two billion dollars in 178 00:09:16,520 --> 00:09:20,120 Speaker 2: loans for the construction of social and affordable housing, which 179 00:09:20,160 --> 00:09:23,760 Speaker 2: the government says we'll see in extra seven thousand homes built. 180 00:09:24,080 --> 00:09:27,960 Speaker 5: It takes time to build homes, let alone seven thousand 181 00:09:27,960 --> 00:09:32,120 Speaker 5: of them, and there needs to be relief immediately, especially 182 00:09:32,120 --> 00:09:34,360 Speaker 5: if you listen to some of the grabs we've included 183 00:09:34,360 --> 00:09:37,720 Speaker 5: in this podcast. So is there any sort of immediate 184 00:09:37,760 --> 00:09:38,600 Speaker 5: relief available. 185 00:09:38,640 --> 00:09:42,040 Speaker 2: Well, the maximum amount of the Commonwealth rent assistance payment 186 00:09:42,080 --> 00:09:45,400 Speaker 2: will increase by fifteen percent and that payment goes to 187 00:09:45,440 --> 00:09:48,840 Speaker 2: welfare recipients who rent, including those on job seeker and 188 00:09:49,000 --> 00:09:52,160 Speaker 2: the age pension. Now, in real terms, that increase is 189 00:09:52,200 --> 00:09:55,560 Speaker 2: equivalent to about thirty one dollars a fortnite. But with 190 00:09:55,640 --> 00:09:58,280 Speaker 2: the type of rent increases that we've heard about, not 191 00:09:58,440 --> 00:10:02,480 Speaker 2: to mention the rising cost of gross petrol and life itself, 192 00:10:02,960 --> 00:10:05,520 Speaker 2: it could be that that's not a huge relief to many. 193 00:10:08,080 --> 00:10:10,600 Speaker 2: If you're not sure of your rental rights, there are 194 00:10:10,640 --> 00:10:13,840 Speaker 2: tenants unions or advocacy bodies in every state and territory. 195 00:10:13,880 --> 00:10:15,559 Speaker 2: I'll throw a link to where you can find those 196 00:10:15,679 --> 00:10:19,160 Speaker 2: organizations in today's show notes. They can help you along 197 00:10:19,240 --> 00:10:21,439 Speaker 2: if you feel like you're being treated unfairly or your 198 00:10:21,480 --> 00:10:23,480 Speaker 2: rental is actually unsafe to live in. 199 00:10:25,559 --> 00:10:27,839 Speaker 5: Thanks for joining us on the Daily OS. If you 200 00:10:27,960 --> 00:10:31,199 Speaker 5: learn something from today's episode, don't forget to hit subscribe 201 00:10:31,240 --> 00:10:34,560 Speaker 5: so there's a TDA episode waiting for you every weekday morning. 202 00:10:35,040 --> 00:10:37,720 Speaker 5: We'll be back again tomorrow morning, but until then, have 203 00:10:37,800 --> 00:10:38,520 Speaker 5: a brilliant day.