Property Investor News | Tenancy Changes

Changes to the residential tenancy laws start on 23 March 2020, with amendments to the Residential Tenancies Act 2010 and the new Residential Tenancies Regulation 2019.
The changes aim to reduce disputes over repairs and maintenance, increase protection and certainty for tenants, and clarify the rights and obligations of tenants and landlords.
The list below highlights the key changes, contact your Property Manager for further information or access the link below:

Changes to NSW Tenancy Laws

1 – Minimum standards to clarify“fit for habitation”.
2 – New smoke alarm obligations for landlords
3 – Changes of a “minor nature”
4 – Damage & removing modifications
5 – New mandatory set break fees for fixed term agreements
6 – Strengthened information disclosure requirements
7 – New material facts
8 – New information to be disclosed to prospective strata tenants
9 – Remedies for tenants for breaches to information disclosure requirements
10 – Water Efficiency Measures
11 – New Rectification Order Process
12 – New Standard form of agreement

Some of the new laws will not apply to existing fixed term residential tenancies entered into before March 2020 and over the coming months we will update you accordingly once finalised.

If you have any questions, or need clarification on any of the above, please contact Anna Marten, our Senior Investment & Property Manager, on 9651 1666 or anna@guardianrealty.com.au

 

Important note: Clients should not rely solely on the content of this newsletter. All endeavors are made to ensure the content is current and accurate however, we make no representations or warranties as to the accuracy, reliability, completeness, or currency of the content. Readers should seek their own independent professional advice before making decisions.

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