States other than NSW charge either nothing or very little for the use of Crown Land, i.e. for “mud & water” under jetties, ramps, pontoons, mooring pens, boatsheds, skids etc.

Since 2004, the rents charged by the NSW Government to about 8,000 renters have increased dramatically (in some cases by as much as 700%).

The Government has adopted a complicated and fundamentally flawed formula devised by the Independent Pricing and Regulatory Tribunal (IPART) to determine your rent.

 The advice of property experts is that the average net rate of rental return for waterfront properties is considerably less than 1%, compared to the 3.05% figure being used in the formula to calculate current invoices. If the NSW Government properly implemented the IPART rental formula, current rentals would generally be around 75-90% less.

WaterfrontActionGroup Current Campaign To convince the NSW Government and the responsible Ministers that the IPART formula for establishing rentals charged for waterfront leases is flawed in the extreme.

The Rate of Return needs to be based on sound valuation principles and the regular review required by IPART needs to be implemented and not ignored as is currently occurring.

Correct application of the IPART formula should be adopted to produce a fairer and more equitable rent.  This committee believes it has the answers and is willing to work with the Government to achieve those ends

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