Residential Tenancies Amendment Bill 2024
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Attention Property Investors! Stay informed about the New South Wales Residential Tenancies Amendment Bill 2024, which introduces important changes designed to strengthen tenant rights and improve rental practices. Passed in October 2024, these changes will affect how termination notices, rent increases, and pet permissions are handled. Here's what you need to know to stay compliant and informed.
Key updates in this video:
Termination Notices: "No grounds" terminations now restricted to specific, evidence-based reasons (e.g., breach of lease, sale of premises, family occupancy, or renovations). Reletting exclusion periods may also apply.
Pet Permissions: Tenants can request pets, with landlords allowed to refuse only for valid, legislated reasons.
Rent Increases: Rent increases limited to once per 12 months, regardless of lease type or status.
These changes align NSW with other states like Victoria and Queensland and are expected to take effect in early 2025, pending Governor approval.
Contact:
Nicole Hoare | 0408 434 461 | Book in a meeting with Nicole
Lee de Sain | 0478 904 447 | Book in a meeting with Lee
Looking to know more about our Property Management service and how we can remove the stress and maximise your return, book in a meeting with an Investor Consultant, Nicole Hoare or Lee de Sain.
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