Rent Bidding is Over in WA... or is it?

As the owner of AussieOs, I welcome the recent rental reforms and their implications for the Western Australian real estate industry. These changes mark a significant step towards ensuring fairness and transparency in the rental market, aligning perfectly with our values at AussieOs.

One notable aspect of these reforms is the crackdown on rent bidding, which prohibits agents or owners from soliciting or incentivising tenants to pay more than the advertised price for a property. While tenants still retain the freedom to offer additional rent voluntarily, especially in competitive markets, it is important to note:

"Tenants can still voluntarily offer to pay more, which will happen in a highly competitive market, and this is not considered rent bidding."

However, at AussieOs, we recognise that the rent amount is not usually the primary decision factor for property managers and landlords. Instead, factors such as regular maintenance and the ability to pay the rent with savings in the bank and evidence of income often take precedence.

This is why our role as relocation consultants is so important for individuals and their dependents when they move to Australia. We provide our clients with insights into properties that best suit their needs and offer good value. Additionally, leveraging our vast property management experience and relationships with property managers, we understand the main concerns regarding their investment properties. We often encourage tenants to contribute towards pool maintenance, hiring a cleaner, and/or gardener, showcasing their commitment to maintaining the property in top condition.

Without our support and guidance, many potential tenants could find themselves in the situation of offering to pay too much for a property that is not suitable.

As we move forward, we anticipate further reforms in the pipeline, including limitations on rent increases and policies regarding pets and minor modifications. We embrace these upcoming changes and remain dedicated to providing top-notch relocation services that comply with the evolving regulatory landscape.

In summary, the recent rental reforms represent a positive shift towards a fairer and more transparent rental market, and AussieOs is fully prepared to adapt and thrive in this new environment, ensuring the satisfaction of both tenants and landlords alike.

You can find out more about AussieOs here.

Reference: REIWA - Rent Bidding Banned from Today