Residential Tenancy Reforms Affect Every Tenancy In New South Wales | Australia and New Zealand's Leading Outsourcing Provider

Residential Tenancy Reforms Affect Every Tenancy in New South Wales

There are significant legislative changes afoot for residential tenancies in New South Wales as a result of the recent floods throughout the state.

The Residential Tenancies Amendment (Tenant Protections and Flood Response) Bill 2022 was introduced to parliament on 24 March 2022. The changes are major and controversial and have not had rigorous public consultation processes that are needed due to the nature of the changes.

Some of the changes include:

  • Removal of the no grounds termination notice
  • Introduction of restrictions and a cap on rent increases
  • Restrictions on termination at the end of a fixed-term lease
  • Landlords will be required to ensure properties have adequate waterproofing
  • Landlords to be responsible for keeping the premises free from mould or else the premises (irrespective of whether they are habitable or not) will be deemed to be unfit for habitation

The REINSW has been proactive on this front and we suggest that concerned principals/ property managers who are members of the Institute contact the Institute to get more information on the changes and what they can do to raise industry concerns over the changes.

At Universal Property Systems, we can see that the changes will add additional burdens upon property managers. We have begun working with our clients in not only NSW but across Australia on how we can assist property managers to ease their compliance burdens by creating Compliance Administration positions. The cost of compliance is real to every property management business. UPS is ready to help ease the cost and time burden upon property managers.

For further information on how Universal Property Systems can assist you in this vital area of property management practice, contact Colin Rodgers, our head of Property Management on 02 8555 0103 or colin@upsystems.com.au

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