NSW COVID-19 FAQs on tenant rights from NSW Dept of Fair Trading

Discussion in 'Property Management' started by Simon Hampel, 24th Mar, 2020.

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  1. Simon Hampel

    Simon Hampel Founder Staff Member

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    The NSW Dept of Fair trading has released a FAQ about consumer and business rights, which includes information on tenancies - Coronavirus (COVID-19) FAQs on consumer and business rights

    Importantly, it mentions the following:

    Renting
    The National Cabinet is meeting this week and is expected to discuss the impact of COVID19 on tenancies. Further advice will be provided as it becomes available.
    The current requirements for NSW tenancies are outlined below.​

    ... they then go on to summarise the existing obligations for tenants with no changes that are specific to COVID-19.

    There is also a section in that document about Rental Issues for Overseas Students.

    Essentially, the message right now is - nothing has changed at this point in time regarding tenancies in NSW.
     
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  2. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    LL insurance may also impact how a tenant and landlord should deal with an arrears or payment issue.
    - LL insurance only cover a default (not delayed or agreed unpaid rent !!!). A`default is a final loss that cant or isnt paid.
    - Often time limited eg 6 week EBM claim period which may be far less than a actual loss

    Care must be taken that making agreement with a tenant to accept 50% of rent may render a subsequent loss by default as uninsured. It is contrary to terms of the lease (prhaps it a rewrite of the terms) and made to reduce rent as a extension to the lease.. The landlord would likely wear the full loss
     
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