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Mortage Broker , Sydney Region

NSW: New NSW Residential Tenancy Laws set to take effect in March 2020

2Mo ago 0 Replies 71 Views
The NSW Office of Fair Trading has announced sweeping changes to the Residential Tenancies Amendment (Review) Act 2018 [NSW] and the Residential Tenancies Regulation 2019 [NSW].
Many changes are to safeguard tentant interests and will come into effect on 23 March 2020.

Details:
* Rent increases must be limited to once per year during a periodic agreement when the fixed term has passed. 
* Landlords must obtain tenants’ prior written consent to publish photographs or video recordings of premises, including property interiors for advertising purposes which may show tenants’ possessions. 
  1. * 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 one from a prescribed list in the 2019 Regulation.
* Repairs and replacements of hardwired smoke alarms must be carried out by an authorised electrician
* Non-payment of water usage or utility charges may now result in tenancy termination (in addition to non-payment of rent)
* Tenants have the right to break their lease if it is signed after 23 March 2020. Tenants will pay a break fee of:
4 weeks rent if less than 25% of the fixed term has expired
3 weeks rent if 25% or more but less than 50% of the fixed term has expired
2 weeks rent if 50% or more but less than 75% of the fixed term has expired
1 week’s rent if 75% or more of the fixed term has expired
* Victims of domestic violence will be able to terminate their tenancy without penalty

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