Labor has supported the introduction of new protections for renters in NSW, including a requirement for landlords to justify restrictions on rent increases above the inflation rate.

The NSW Labor conference on Sunday passed a range of rent-related motions.

Non-geared unit trusts can be an effective way for self-managed funds to co-invest to purchase a property Credit:Tamara Voninski

Labor's building sustainable communities committee noted that almost a third of NSW citizens live in rented properties "with a growing proportion of those being families".

"The next Labor government will modernise rental rules to provide certainty, balance and fairness to renters and landlords," it said.