While the Real Estate Institute of NSW (REINSW) commends the NSW  Government’s commitment to support small business, the fact that landlords and  tenants have again been left out is unjustified, considering the contribution the property  industry makes to the state’s economy. 

REINSW CEO Tim McKibbin says the small business support package announced today is an  appropriate and necessary response to the latest COVID-19 outbreak, however landlords and  tenants have once again been ignored.

Today, when the Treasurer said that landlords should work with their tenants, he is actually  asking landlords to provide tenants with financial assistance,” Mr McKibbin says.

It’s a situation that took many landlords to the brink through the rental moratorium previously  put in place. Then, just as now, landlords were asked to provide financial support to tenants in  need. This is the role of Government.

Through stamp duty, the NSW Government has pocketed an additional $1 billion above Budget  forecasts from the property industry. This is the time to give something back.”

Mr McKibbin says the record stamp duty collected by the NSW Government provides it a clear  avenue to support the tenants impacted by job losses or reduced hours as the current outbreak  progresses.

It is entirely appropriate and achievable for Government to provide direct rental assistance to  tenants impacted by the latest lockdown so that landlords are not left out of pocket. Landlords  should not carry the financial burden,” he says.

It was unfair last time and it’s unfair this time.