Is your rent too high? Millions in one Aussie state urged to check

Millions of Australians in one state are being urged by the government to check if they're paying too much rent.

A new online tool, Rent Check, has been developed by the New South Wales Rental Commissioner to provide updated, current data on rental markets around the start.

Rent Check compares up-to-date weekly rents by NSW postcode across metropolitan and regional locations using rental bond data, ensuring the tool provides a realistic indication of rent prices.

READ MORE: Sydney expecting smothering smoke amid backburns

Users enter a postcode and answer questions about whether the home is a unit or house, how many bedrooms it has and the current rent, or price they are willing to pay for a property.

The result will give them the median market rental range for a particular location and if the price is above or below the median price for that suburb.

The new, free-to-use website will help renters compare pricing and identify excessive rent while also helping owners better understand the range of rent being charged for similar properties in an area.

READ MORE: Congestion is easing on Sydney roads - for two key reasons

The website will also provide links to further advice and resources for renters, owners and other users on the NSW Fair Trading website.

Rent Check is available online here

"One in three people in NSW are renters and many spend a large chunk of their weekly budget to pay for the roof over their head," Minister for Better Regulation and Fair Trading Anoulack Chanvithong said.

READ MORE: Warning over electric scooter and bike batteries amid daily fires

View gallery

Rents are dropping in these 10 areas across Australia

Rental Commissioner Trina Jones said the website provided benefits for owners and renters.

"With transparent market information, renters are empowered to make informed decisions and negotiate better rental agreements while owners can use it to set competitive and fair rent prices by understanding market trends, ensuring they attract and retain tenants," she said.

FOLLOW US ON WHATSAPP HERE: Stay across all the latest in breaking news, celebrity and sport via our WhatsApp channel. No comments, no algorithm and nobody can see your private details.