Landlord Update

Tenancy Moratorium
Following on from the introduction of the Tenancy Moratorium for COVID19-impacted tenants in April 2020, the NSW Government recently announced a further 6-month extension. This means that the Moratorium will now cease on 26 March 2021.

The impact of the Moratorium has meant a change to certain ways to terminate tenancies, irrespective of whether the tenant is COVID19 impacted or not. The most pressing change, of which we have seen the most discord arise, is in relation to terminating fixed-term tenancies. Previously, we needed to provide 30 days’ notice prior to the end of fixed-term but with the Moratorium in place, this is now a 90 day notice period.

Therefore, if you have future plans to take possession of your property at the end of the current fixed term before 26 March 2021, we need to give the tenant 3 months’ notice.

Please ensure you allow enough time and notice for this to occur if regaining possession is a possibility. The property management team are available, as always, to answer any questions you may have regarding this.

Lease Changes
Last month, the NSW Government in conjunction with the Office of Fair Trading, implemented some minor updates to the standard form lease agreement. From 28 September 2020, we are now required to notify tenants about a landlord’s location if it is outside NSW or overseas. If the location changes during the tenancy, we have to notify the tenant within 14 days.

The reason behind this change is due to an NCAT jurisdictional issue whereby NCAT no longer has jurisdiction to determine disputes amongst residents of different states.

Going forward, your location if overseas or outside NSW, and a method of contacting you directly will be displayed on the lease agreement in accordance with the legislative requirements. If you have any questions regarding this, please do not hesitate to contact your property manager directly.

Landlords Insurance
Both EBM and Terri Scheer have commenced releasing new policies for landlords insurance. Given the uncertain times, we have had a number of existing clients make enquiries about landlords insurance and ensuring an additional layer of protection in the event of the unknown. Given the above, we are encouraging all our out of state or overseas owners to take up policies. If you would like more information about landlords insurance please reach out to us.

Smoke Alarms
Smoke alarm legislation has been updated and it is now a requirement that a certificate of compliance be produced prior to any new tenants taking occupancy. In the coming months we will be sending an email with an opt in/ opt out for our Service Provider Smoke Alarm Testing Service. They have an annual subscription fee of $99.00 and will ensure your smoke alarm meets the NSW Legislation Requirements. Strata will check most smoke alarms but will not provide a certificate of compliance, nor do they change the batteries or the smoke alarms so you may not currently meet compliance standards. If you have any questions in relation to this, please contact your property manager.