Residential Tenancies Amendment Act 2020

Residential Tenancies Amendment Act 2020

It’s been a very busy month for everyone here in the WKB team – August is a huge student month for us as we set about to rent all our student properties for next year. This month has been no exception with lots of activity and nearly all of them leased.

 

August has also been the month of the hastily passed Residential Tenancies Amendment Act 2020 which reached Royal Assent on 11th August coming into force from 12th February 2021. While we are disappointed that submissions made to the government concerning these changes to the Act, appear to have received little or no consideration at all, changes have been made, and we must work within this new legislation. Although we face new changes it is apparent with the record low interest rates that new landlords are wanting to purchase investment properties also.

 

Please click on the link below to read more about the amendment changes but probably the most significant changes that will affect how we operate will be around:

  • Changes to the fixed term
  • Making minor changes
  • Assignment of Tenancies
  • Rent Increases

 

Read full details here

 

 

We are very much across this legislation and happy to answer any questions you may have.