New laws in New South Wales continue to shape the rental sector and affect many landlords in Sydney. The primary objective for this Law is to provide more protections for renters while making sure landlords are dealt with responsibly and legally.
For property holders in New South Wales, one must pay attention to these changes in order to comply the law, as well as have a seamless rental experience. This guide will highlight the most recent changes in the law or regulations and what they mean for landlords.
1. Changes to Rental Bond and Rent Increases
In order to make renting fairer for tenants, the state government has now put new rules in place regarding rental bonds and rent increases.
What’s New?
- Long-standing tenants can benefit from capped rent increases for periodic leases.
- Tenants are finding it easier to have their deposits returned to them. Faster processing of bond claims is certainly helping.
📌 Learn more about NSW rental bond laws
2. Minimum Standards for Rental Properties
Landlords should not forget that compliance with new minimum standards for rental properties is a must in order to legally rent out their buildings. New regulations target habitability and safety for the tenants.
Key Elements:
- Minimum security, ventilation and heating, among other things, must be included in all properties.
- Functional smoke detectors are required by law and are the landlord’s responsibility to service on an annual basis.
- Both upkeep and repair must be done within a reasonable timeframe in order to adhere to fair housing standards.
3. More Rigorous Policing of ‘No Grounds’ Evictions
With the new Residential Tenancies Act, landlords are prohibited from giving tenants on periodic leases ‘no grounds’ evictions.
Implications for the Landlords:
- When it is desired to terminate a tenancy, a rationale needs to be provided: the property being sold, extensive remodeling, or the owner occupying the residence.
- Unjustified unilateral terminations of leases by landlords for tenants are now more difficult.
4. Withdrawal of Pet-Free Accommodation Policies
The residents in NSW are now able to keep pets, which impacts how landlords set their pet policies.
Primary Aspects:
- A landlord is no longer allowed to pet-proof their rental properties.
- Pets in rental units are permitted, but permission must be sought first, which if granted means the owner has to provide a good reason for not permitting it.
- No additional bonds for pets will be permitted; all damages will be dealt with through the standard rental bond.
5. Equalizing the rental relations with respect to repairs and maintenance of property incurred by the landlord
Landlord have taken on added rules concerning swift repairs of the property and general maintenance of the house.
What You Ought to Know:
- There is a need to spend money on all necessary repairs, and there are already sanctions for failure to supply essential services, e.g. plumbing or electrical work.
- Tenants are guaranteed to receive the right to contact the landlord for emergency repair services.
- Legal claims or fines may arise if maintenance responsibilities are not met.
How AB Property Consultants Can Help Landlords Stay Compliant
Staying Compliant as a Landord with AB Property Consultants, Seeing a lawyer to understand a new tenancy law in NSW can mean protecting your investment and preventing legal problems. With AB Property Consultants, landlords can get help with dealing with difficult rules, tenant relations, and even compliance issues.
📞 Looking for a property manager? Maintenance, lease compliance, and tenant screening all add to the property owners’ worries, but we take care of all so that the property remains enjoyable and profitable.
📩 Looking to sell? With our expertise in the market along with targeted advertising, we ensure you will get the most price for your estate.
🌏 Would you like to know more? Along with other things, our team makes sure you do not fall behind on compliant with new NSW tenancy laws.
📞 Contact us today: 0402 96 1515
📩 Get in touch: ab@abproperties.com.au
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Stay ahead of NSW’s rental regulations and protect your investment with AB Property Consultants!