The NSW Office of Fair Trading has announced comprehensive changes to the Residential Tenancies Amendment (Review) Act 2018 [NSW] and the Residential Tenancies Regulation 2019 [NSW]. The Residential Tenancy Laws NSW changes will come into effect on 23 March 2020 and will affect property managers, landlords and tenants.
If you are wondering how these landlord legislation changes will impact you and to ensure that you remain compliant, this video will pinpoint three changes that are important and every landlord should know about.
If you’re ready to discover how you can rent out your property with confidence, download our free Step By Step Checklist to Renting Your Property with Confidence.
Tenants may make minor alterations, fixtures, additions and renovations with the landlord’s consent, but the landlord cannot unreasonably withhold consent if the alteration, fixture or addition is considered unreasonable. A prescribed list in the 2019 Regulation will outline was is considered unreasonable.
Tenants have the right to break their lease agreement if it is signed after 23 March 2020. Tenants will pay a break fee of:
The disclosure statements have been strengthened, meaning landlords are required to ensure that tenants know anything of the property’s history that they should know. This includes:
It should be noted that form March 2025, all toilets in rented properties must be dual flush with a minimum 3-star rating in accordance with the Commonwealth Water Efficiency Labelling and Standards (WELS) scheme. The WELS scheme uses a rating system to help consumers make informed choices about the water efficiency of products they buy. Landlords who intend to replace or upgrade existing toilets in their property should consider installing dual flush toilets with a minimum 3-star WELS rating to meet the water efficiency requirements by 23 March 2025.
To find out more information about these changes coming in to effect to the Residential Tenancies Act, we encourage you to visit the NSW Fair Trading website or contact our office.
If you’re ready to discover how you can rent out your property with confidence, download our free Step By Step Checklist to Renting Your Property with Confidence.
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I hope that has helped you today. If you have any questions I’d love to talk to you. My number is 0426 264 771. I look forward to talking to you soon.