Exclusive: NSW finalising tenancy relief as residential rents likely to drop
The Berejiklian government's plans for residential rent relief will include deferring or even waiving land tax for landlords on the condition they pass on the savings to tenants.
NSW is finalising residential rent relief as tenants are hit by the financial impact of the coronavirus.“Offering a degree of land tax waiver or deferral for landlords is something we are finalising," Mr Perrottet said. "This is a complicated area and both sides face challenges, and I urge landlords and tenants to work together to find solutions at this extremely difficult time."Rents are expected to drop in coming months, experts say, as a surge in rental properties combines with a drop in tenant demand due to the economic impact of COVID-19.
"The big question is if this is going to continue. If it does, we will see downward pressure on rents," Dr Powell said.reaching their lowest levels in years
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