Residential Tenancies Act Reforms Pass
Reforms to the Residential Tenancies Act have passed without amendment, according to the Real Estate Institute of New South Wales.
These major changes affect the real estate industry, landlords and tenants!
REINSW President Leanne Pilkington said the Residential Tenancies Amendment (Review) Bill 2018 has passed and REINSW is now commencing the first phase of educating the property management community.
“It is important for our profession to understand all of the changes that the new Bill includes. We will be conducting intensive Training Sessions in 17 locations across the state beginning in Sydney next Thursday 25 October and running to 29 November 2018.
“The second phase will follow the release of the Regulation, which are the guidelines that dictate how the act should be applied.
“REINSW with the support of the REINSW Property Management Chapter Committee and a dedicated Sub-Committee which formed in June 2015, worked tirelessly to specifically identify those areas in the current legislation requiring reform.”
Ms Pilkington said while many of our lobbying efforts have been adopted in whole or part by the Government, a lot have been ignored, such as the Government’s proposed changes to:
- Alterations to property
- Break fees
- Domestic violence
- Rent increases, and more.
The bill will now be sent to the Governor of NSW for his assent. A date for the reforms to be implemented is yet to be disclosed.