Learn these changes in the Residential Tenancy

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Subject: Learn these changes in the Residential Tenancy

UNIVERSAL | PROPERTY | SYSTEMS

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.

Image of a group of wood blocks shaped like houses and condominiums.

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.

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.

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Subject: Learn these changes in the Residential Tenancy