Victorian rental bidding ban looms amid housing market squeeze
Kathryn Whiteley knows exactly how brutal Melbourne's rental market can be.
The Nunawading renter has seen properties snapped up in minutes, sometimes for $100 above the asking rent, and has experienced the anxiety of applying for homes alongside dozens of desperate hopeful tenants at inspections.
'You turn up hoping to find somewhere stable and suddenly it's like a silent auction,' Ms Whiteley said.
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'People are whispering offers to the agent, offering six months in advance, it's insane.
'One property jumped up nearly $100 just from competition. I left feeling so defeated.'
The new laws to ban all forms of rent bidding are due in November that will make it illegal for landlord to accept, encourage or solicit rental offers above the advertised price.
Agents and landlords who breach the rules could race up to fines of $47,422 under the reforms, which aim to close legal loopholes and improve fairness for tenants.
But, Ms Whiteley says many renters have already been forced to bid, or miss out.
Ms Whiteley said Melbourne's rental market feels like a 'silent auction', where tenants are forced to offer hundreds more just to compete. Picture: Jason Edwards
'It puts so much pressure on people who are just trying to find a home,' she said.
'You feel like you're being punished for not being wealthy.'
She considers herself lucky now, living in a property managed by a 'respectful, generous landlord', the kind of rental experience she says should be far more common.
'I've had agents ghost me, landlords who barely return messages,' Ms Whiteley said.
'To have someone who actually checks in, who hasn't raised the rent just because they can, it means everything.'
But even with supportive landlords doing the right thing, Ms Whiteley said the system is 'failing everyone, renters and landlords alike'.
'We talk about this generational divide, but we shouldn't be turning it into 'us versus them,' she said.
'A lot of older Australians are struggling with rising costs too. It's not just young people who are doing it tough.'
Ms Whiteley said the cost of living squeeze – particularly soaring food and fuel prices – has made it harder than ever to stay ahead, let alone save for a home.
'The dream of owning a home feels like it's slipping away for so many of us,' she said.
Despite finally finding stability, Ms Whiteley believes Victoria's rental system is still failing both tenants and landlords and says reform can't wait. Picture: Jason Edwards
'Rent takes up so much of your income that saving just isn't realistic anymore.
'People are working full-time, doing everything right, and still falling behind.
'The ones trying hardest are often the ones struggling most.'
Despite the challenges, Ms Whiteley still holds onto hope for a fairer system.
'We need a housing system that looks after everyone, the renters trying to get by, the investors doing the right thing, and the older Australians who paved the way,' she said.
'Housing shouldn't be this hard. Everyone deserves a place to belong.'
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david.bonaddio@news.com.au
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