Changes to new south wales' residential tenancy laws

As of the end of January 2011, the New South Wales residency tenancy laws changed quite significantly. The new Residential Tenancy Act 2010 applies to all existing and new residential tenancies, and therefore affects you and the advice you give on a daily basis as a CENTURY 21 real estate agent to both your rental clients and landlords. 

According to NSW Fair Trading, the new Act contains more than 100 areas of reform.  However the main changes outlined by NSW Fair Trading are as follows:

• There is more protection for victims of domestic violence
• Tenants must be given at least one means of paying their rent that does not incur a fee
• The time to evict a tenant who has stopped paying rent will be cut by up to 18 days
• Red tape will be cut for landlords dealing with goods left behind
• Tenants will be able to make reasonable requests to make minor changes to premises or to sub-lease a spare room
• Landlords will be required to make premises ‘water efficient’ if they wish to charge tenants for water usage
• Landlords will gain the right to show premises to prospective tenants or buyers at least twice a week
• Landlords and their agents will be prohibited from knowingly concealing certain important information from tenants
• Tenants will no longer be forced to have carpets professionally steam-cleaned when vacating premises. 

The NSW Fair Trading website contains further information about the changes, with specifics on how they apply to both renters and landlords.  If you haven’t already, it may be a worthwhile exercise to take some time to read through the changes in detail, so that you can confidently explain them to your property clients. 

Posted by Reality Bytes - Real Estate Training Blog on 27/04/2011 at 9:09 AM | Categories:

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