Changes to NSW rental laws
The NSW Parliament passed changes to the rental laws on the 24th October, 2024.
Two important changes that have already come into effect are:
· The tenant can not be charged any fees at the beginning of a tenancy for things such as background checks, lease fees, pet bonds & key cutting.
· Rent increases can only be made once per year for all leases.
Other reforms that are due to come into effect in the first half of 2025 are:
· Landlords will need a reason to end a tenancy for both periodic and fixed term leases. The 90 day no grounds to end a tenancy will no longer be allowable.
· The amount of notice a renter must receive before their lease ends will increase for renters in a fixed term lease. Currently it is 30 days but it is being increased to 60 days for 6 month leases or less & 90 days for leases for more than 6 months.
· Renters will be able to apply to keep a pet, with the landlord only able to decline for certain reasons.
If you would like any further information please contact our property management team or visit the NSW Government Fair Trading website.