{"id":189119,"date":"2025-05-18T17:30:22","date_gmt":"2025-05-18T07:30:22","guid":{"rendered":"https:\/\/propertyupdate.com.au\/?p=189119"},"modified":"2025-05-23T08:40:00","modified_gmt":"2025-05-22T22:40:00","slug":"is-pet-bidding-the-next-frontier-in-australias-broken-rental-market","status":"publish","type":"post","link":"https:\/\/propertyupdate.com.au\/is-pet-bidding-the-next-frontier-in-australias-broken-rental-market\/","title":{"rendered":"Is Pet Bidding the Next Frontier in Australia\u2019s Broken Rental Market?"},"content":{"rendered":"

Just when we thought we\u2019d seen it all in Australia\u2019s rental crisis\u2014skyrocketing rents, chronic undersupply, and fierce competition for even the most modest of properties- a new phenomenon is emerging that reflects just how desperate tenants have become.<\/p>\n

It\u2019s called pet bidding<\/em>.<\/p>\n

Yes, really.<\/p>\n

We\u2019ve long been talking about rent bidding<\/em>, where would-be tenants offer to pay more than the advertised rent to jump ahead of the pack.<\/p>\n

But now, tenants in New South Wales are reportedly starting to make another kind of offer, to voluntarily give up their right to keep a pet<\/em>, in the hope that it will make them more appealing to landlords.<\/p>\n

It\u2019s a direct response to recent tenancy reforms that, while well-meaning, may have once again missed the mark.<\/p>\n

\"Pets2\"<\/p>\n

The background: when good intentions meet harsh market realities<\/span><\/h2>\n

In early 2025, the NSW Government introduced new residential tenancy reforms, including a rule that effectively grants tenants the right to keep up to four pets<\/em> in a rental property.<\/p>\n

This followed similar legislation rolled out in Victoria several years ago, aimed at making renting \u201cfairer\u201d for tenants.<\/p>\n

But we\u2019ve seen how those Victorian reforms have played out, and the lessons haven\u2019t been heeded.<\/p>\n

According to Tim McKibbin, CEO of the Real Estate Institute of NSW (REINSW)<\/a>, this new regulation has opened the door to a perverse new trend.<\/p>\n

He explains:<\/p>\n

\n

\u201cWith landlords now forced to accept up to four animals in their property, it opens up another opportunity for tenants to distinguish themselves by offering to forego their right to have pets.\"<\/p>\n<\/blockquote>\n

In short, instead of negotiating for better terms, tenants are now negotiating away their rights.<\/p>\n

What does \u201cpet bidding\u201d actually mean?<\/span><\/h2>\n

According to REINSW, the concept is straightforward, if unsettling.<\/p>\n

A tenant applying for a property might say in writing, \u201cI will not apply to have pets, as is my right\u201d<\/em>, in an attempt to look more appealing to the landlord or property manager.<\/p>\n

They\u2019re giving up something they\u2019re legally entitled to in exchange for the chance to simply secure a place to live.<\/p>\n

As McKibbin puts it:

<\/div><\/p>\n

\u201cThis would presumably occur in two ways. One, by foregoing the right to have four pets, and reducing that to three or less. Or two, by foregoing their right to have a pet entirely.\u201d<\/p><\/blockquote>\n

It\u2019s essentially the mirror image of rent bidding.<\/p>\n

Instead of offering more money, tenants are now offering to accept less freedom, all in the name of gaining an edge in a brutally competitive rental market.<\/p>\n

The real issue: a brutal lack of supply<\/span><\/h2>\n

Let\u2019s not sugar-coat this.<\/p>\n

Pet bidding, like rent bidding, isn\u2019t something tenants want<\/em> to do.<\/p>\n

It\u2019s not driven by greed or opportunism, it\u2019s driven by scarcity and desperation.<\/p>\n

It\u2019s a consequence of years of policy missteps that have reduced investor confidence, stalled housing supply, and turned renting into a battle of survival.<\/p>\n

McKibbin says it plainly:<\/p>\n

\n

\u201cObviously, forcing investors to accept pets and removing their right to recover possession of their property has driven them from the market. It\u2019s tenants who suffer.\u201d<\/p>\n<\/blockquote>\n

And the data backs him up.<\/p>\n

In Victoria, the reforms that NSW is now replicating have already shown their downside.<\/p>\n

According to the Victorian Government\u2019s own data, the top reason a no-fault notice to vacate was issued in 2023\u201324 was because the property was being sold, in 53% of cases.\u00a0<\/em><\/p>\n

In other words, the very policies designed to help tenants have actually led to a reduction in available rental properties.<\/p>\n

Investors are pulling out, selling up, or simply not entering the market in the first place.<\/p>\n

That\u2019s the real crisis.<\/p>\n

Tenant rights vs. investor confidence: can we balance both?<\/span><\/h2>\n

On the surface, it sounds compassionate to give tenants more rights, especially when it comes to having pets, which are often considered part of the family.<\/p>\n

But when these laws are implemented without regard for market dynamics, the result is predictable: less rental stock, more competition, and worsening affordability.<\/p>\n

What\u2019s missing in this debate is balance.<\/p>\n

Investors aren\u2019t the enemy here.<\/p>\n

They are an essential part of the rental ecosystem.<\/p>\n

If they\u2019re not confident that they can manage risk, whether that\u2019s the risk of damage from pets or an inability to reclaim their property when circumstances change, they\u2019ll take their capital elsewhere.<\/p>\n

McKibbin warns:<\/p>\n

\n

\u201cOnce again, politically populist policies harm those Government is attempting to win favour with more than anyone else.\"<\/p>\n<\/blockquote>\n

And he\u2019s right.<\/p>\n

The people these policies aim to protect\u2014tenants\u2014end up bearing the brunt of the fallout.<\/p>\n

\"Tenant<\/p>\n

Final thoughts<\/span><\/h2>\n

Pet bidding is not just a quirky headline, it\u2019s a canary in the coal mine.<\/p>\n

It\u2019s a sign that Australia\u2019s rental market is under extreme pressure, and people are starting to trade away rights in order to secure basic shelter.<\/p>\n

That should alarm all of us\u2014landlords, tenants, policymakers, and industry professionals alike.<\/p>\n

McKibbin leaves us with a sobering warning:<\/p>\n

\n

\u201cIn New South Wales, we are already seeing tenants going to extra lengths as they are faced with fewer options. Who knows what other new and desperate measures tenants will be forced to take?\u201d<\/p>\n<\/blockquote>\n

It\u2019s time to stop treating housing policy as a popularity contest and start treating it as the serious economic infrastructure issue it really is.<\/p>\n

Because without a course correction, pet bidding may just be the beginning.<\/p>\n

\r\n\r\n\r\n

<\/div>\r\n
<\/div><\/p>\n","protected":false},"excerpt":{"rendered":"

Just when we thought we\u2019d seen it all in Australia\u2019s rental crisis\u2014skyrocketing rents, chronic undersupply, and fierce competition for even the most modest of properties- a new phenomenon is emerging that reflects just how desperate tenants have become. It\u2019s called pet bidding. Yes, really. We\u2019ve long been talking about rent bidding, where would-be tenants offer…<\/p>\n","protected":false},"author":117,"featured_media":189120,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[54,1118,1186],"tags":[],"class_list":["post-189119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-property-updates","category-news-and-features","category-weekly_latest"],"acf":[],"yoast_head":"\nIs Pet Bidding the Next Frontier in Australia\u2019s Broken Rental Market?<\/title>\n<meta name=\"description\" content=\"Just when we thought we\u2019d seen it all in Australia\u2019s rental crisis\u2014skyrocketing rents, chronic undersupply, and fierce competition for even the most...\" 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