The NSW parliament is set to introduce rental reforms as rising living costs continue to burden Sydney renters with record-high prices. The Minns government plans to bring in a new bill on May 10 that aims to create a fairer system by prohibiting secret rental bidding and implementing a portable bond scheme, giving tenants on lease greater certainty about their homes. Premier Chris Minns stressed the challenging process of finding affordable accommodations in NSW, making it necessary to ease the pressure on over 30 percent of renters. The proposed bill will also close loopholes allowing agents to solicit bids and driving up prices, while banning agents from taking bids without informing other prospective tenants. Renters will be able to transfer their bonds from one property to another, freeing up cash and making it easier for them to move. The government also plans to appoint a rental commissioner who will advocate for tenant rights and ban landlords from evicting tenants without reason. With rent prices spiking by 13.1 percent in the past year in Sydney, these reforms are timely and much needed.