Submission to the review of regulations and supply of short- and long-term rental accommodation in NSW by the homelessness

Submission to the review of regulations and supply of short- and long-term rental accommodation in NSW by the homelessness sector 14th March 2024 We welcome the NSW Government’s review of the regulation and supply of short- and long- term rental accommodation. [...] Less than 1% of rental properties are affordable to people on low incomes, and in some parts of NSW, people are spending as much as 95% of their income on rent.2 Many people are priced out of the private rental market, and they are facing homelessness as a direct consequence. [...] For example, the three areas of NSW with the highest concentrations of short- term rental accommodation are also areas with high wait-times for social housing and high rates of homelessness. [...] Housing crisis is the main reason that people seek assistance from specialist homelessness services in NSW – 40% of people who access specialist homelessness services report a housing crisis as their main reason for seeking assistance, and 38% of people report financial difficulties as the main reason for seeking assistance.6 As affordable private rental properties become less accessible and peopl. [...] We also acknowledge that the evidence on the effectiveness of many of these interventions is continuing to emerge and as such, it is vital that the impacts of interventions are rigorously monitored and transparently reported.