Published on July 2nd, 2012
New amendments to NSW Tenancies Act come into force this week
Landlords, managing agents and tenants alike need to remain abreast of any changes surrounding state residential tenancy laws – and this is particularly true in New South Wales this week.
New amendments to the New South Wales Tenancies Act 2010 are set to take effect from Friday (July 6), including changes regarding the payment of bonds, abandoned premises, service of notices, and termination of notice for non-payment of rent.
The Real Estate Institute of New South Wales is encouraging all its members – including real estate agents and private landlords – ensure that new wording is now used in all non-payment termination notices served after this date.
Under Section 88(3), non-payment termination notices must notify the tenant that they will not be obligated to leave a residential property as long as they pay any rent owed in full, or comes to a repayment plan agreement with the landlord.
But new changes to this section – which will take effect from Friday onwards – now outline that in the event a tribunal makes a termination order against a tenant who has exhibited a pattern of failing to pay the rent on time, this individual may still be required to vacate the premises.
According to the REINSW, it is essential for all its members to confirm that any new non-payment termination notices include this vital new information.
Other changes include the ability for a landlord or acting agent to receive a bond ahead of the signing of a residential agreement – although asking a tenant to pay a bond before a residential tenancy agreement is signed will remain an offence – and greater clarification about break fees in fixed-term tenancies.
To find out more about Elders Real Estate Property Management click here.