Hi folks,
having just read an article in "The States" section (NSW) of the latest API mag Feb 2010 titled "Contraversial Changes" begins p. 88, I thought I'd post some links to the draft residential tenancies bill 2009 for NSW.
http://www.fairtrading.nsw.gov.au/A...on/Draft_Residential_Tenancies_Bill_2009.html
http://intranet.tenants.org.au/print/policy-papers/submission-draft-rtbill.pdf
The first one is from the Office of (un)Fair Trading and the second from the tenants union providing their input to the draft.
Whilst it is still a draft and not L.A.W. law, I found some of the contents of the article a little disconcerting. I'm not going to reproduce it here, however it appears that discretion will be slanted to the tenant moreso than the landlord.....yeah, yeah, I know resi leases go that way anyhow, however it appears the scales are now weighted even more to the tenant side
Includes allowing poor performing tenants not to pay rent until sheriff serves notice and ability for them to terminate leases "at will" and an unfettered right for them to modify premises (at their own expense) and their own discretion as they choose, with little input from the landlord......picture black, orange, red, pro hart walls......and then an expense for landlord to rectify to a more neutral theme when said tenants vacate. The landlord also has less say in the tenants discretion to sub-let.
I will have a closer look at the info contained in the links I provided above and re-read the article as from a landlord's perspective I am interested to see how this becomes more attractive to my customers, yet at my expense.
I was looking at possibly further investing in NSW however might wait to see what actually transpires with this draft. That doesn't mean that other states won't play copy-cat and also create more inequity b/w landlords and tenants in favour of the latter
There are scum/slum landlords that the tenants need protection from, however further pushing the penalties to the landlord side of the equation will not augur well for investors and possibly as an ultimate result the rents that tenants will have to pay.
I would be pleased to hear the views of folks who have portfolios in NSW and especially from property managers and rea's who deal in this state's market and how they see the impacts if this draft gets through as presented.
Ahh, the commercial sector is looking ever so appealing.........
having just read an article in "The States" section (NSW) of the latest API mag Feb 2010 titled "Contraversial Changes" begins p. 88, I thought I'd post some links to the draft residential tenancies bill 2009 for NSW.
http://www.fairtrading.nsw.gov.au/A...on/Draft_Residential_Tenancies_Bill_2009.html
http://intranet.tenants.org.au/print/policy-papers/submission-draft-rtbill.pdf
The first one is from the Office of (un)Fair Trading and the second from the tenants union providing their input to the draft.
Whilst it is still a draft and not L.A.W. law, I found some of the contents of the article a little disconcerting. I'm not going to reproduce it here, however it appears that discretion will be slanted to the tenant moreso than the landlord.....yeah, yeah, I know resi leases go that way anyhow, however it appears the scales are now weighted even more to the tenant side
Includes allowing poor performing tenants not to pay rent until sheriff serves notice and ability for them to terminate leases "at will" and an unfettered right for them to modify premises (at their own expense) and their own discretion as they choose, with little input from the landlord......picture black, orange, red, pro hart walls......and then an expense for landlord to rectify to a more neutral theme when said tenants vacate. The landlord also has less say in the tenants discretion to sub-let.
I will have a closer look at the info contained in the links I provided above and re-read the article as from a landlord's perspective I am interested to see how this becomes more attractive to my customers, yet at my expense.
I was looking at possibly further investing in NSW however might wait to see what actually transpires with this draft. That doesn't mean that other states won't play copy-cat and also create more inequity b/w landlords and tenants in favour of the latter
There are scum/slum landlords that the tenants need protection from, however further pushing the penalties to the landlord side of the equation will not augur well for investors and possibly as an ultimate result the rents that tenants will have to pay.
I would be pleased to hear the views of folks who have portfolios in NSW and especially from property managers and rea's who deal in this state's market and how they see the impacts if this draft gets through as presented.
Ahh, the commercial sector is looking ever so appealing.........