NSW No evictions in Sydney

Yes that's exactly what I said -- the cost of rent is based on supply and demand. This guy says it's not.. go back and read his response.

You're wrong, the rules didn't change. The government has not legislated to say the rules have changed.

 

I wouldn't say the bond is any more of a guarantee than the tenant paying rent as per the agreement for the fact the Legislation provides the tenant an out via hardship that the Lessor has no control over [the tenants circumstances and the Tribunal granting termination for hardship grounds], that would be the only risk aspect to the equation.

I would say a Landlord invests [money] into buying the asset [property], and the risk is the value of the asset going up or down depending on the sales market, not the return from renting it out which is all but guaranteed by the rental contract. It's a different story for commercial property where the asset value is also determined by the yield from the commercial tenancy in place (multiplier etc).

 

I wouldn't say the poster was trolling according to the REINSW;

COVID-19 UPDATE - Tenancies impacted by COVID-19 Emergency Measures Legislation

 

Unfortunately #1 this prime Minister and his wayward cabinet will change the rules to go against the landlord while the rest of the unfortunates and I use that term very loosely will get money gifted to them. Shocking display of leadership and fiscal mismanagement by this Prime Minister. Will leave a very poor legacy.

 

Keeping people in housing and basically putting everything on pause while economy closes? Same as every major economy in the world just to ensure people have a roof over there head and so we can keep societal order.

What would you have preferred, chaos so you could at least evict someone who can't pay? Nutty.

 

I don't see any mention about legislation allowing tenants to stop paying rent or paying a reduced rent

 

The NSW Parliament has passed legislation giving the NSW Government the power to ban evictions for six months, whilst the Federal Government is contemplating rent freezes.

The Act amends various statutes in response to COVID-19, including amending the Residential Tenancies Act 2010 (NSW) and the Retail Leases Act 1994 (NSW) by permitting the NSW Government to make regulations:

• prohibiting the repossession of a premises;
• prohibiting the landlord from terminating a tenancy agreement in particular circumstances;
• regulating or preventing the exercise or enforcement of another right of a landlord under the relevant Act or tenancy agreement; and
• exempting a tenant or class of tenants from complying with the relevant Act or tenancy agreement, where such regulations are needed to protect the health, safety and welfare of tenants under the relevant Act.

And in the opinion of REINSW:

We will have to wait and see which tenant and landlord rights and obligations will be affected but bullet points 3 and 4 (above) are likely to focus on rent, access and break lease.

Does it give a tennant the legal right to carte blanche stop paying rent? Of course not. Can you evict them for not doing so? REINSW fear not.
Does it give a legal requirement to renegotiate a reduced rent? Of course not, the legislation incentivizes the landlords to comply a request by a tenant in distress.

If the tenant can't be evicted for failing to met rent obligation, your cashflow will not care what legal recourse you may or may not still have. You cant get blood out of stone.

If you're adamant the rules haven't changed and you would sooner evict a tenant in distress and failing to meet thier rent obligations then goodluck to you. I'd accept a request for tempory reduced rent myself.

 

Read my lips: I don't see any mention about legislation allowing tenants to stop paying rent or paying a reduced rent

 

No one ever said that the legislation said that. So I do not know what your point is.

 

Read the implication: tennant can't make rent, you cant evict them.

They are not protected by legislation to renege, but you cant evict them anyway. Net result - your financial loss, and they stay put (for now).

I dont know what sort of outcome you're otherwise expecting.

 

Yes he did, go look at post #54

 

I never said anything about eviction. Go look at post 54, someone said the rules have changed and I replied they haven't changed at all in respect to not paying rent

 

54 said nothing about tenant entitled to a rent reduction.

 

So you expect the landlord to underwrite
the tenants rent in a downturn? The tenant signed a lease which is a risk. That's not how it works.

 

Where did anyone refer to rent reduction? The risk of a tenant being unable to pay and having to evict them is always a risk of the investment for a landlord. One that is becoming a realised risk right now. Evictions are out for the next 6 months too.

Pretty simple.

 

It's pretty simple if you follow this thread. He said, she said the rules have changed but they haven't changed in regards to tenants being allowed to stop paying rent or paying a reduced amount of rent. Don't quote me legislation that discusses eviction cos I never mentioned that word. Get it.

 

The thread is title no evictions in Sydney.

Who does or doesnt pay what to who and when doesnt change the fact it's going be near impossible to evict for falling behind.

You can split hairs all you like, but as Adprom says it's pretty simple.

 

The rules about paying your rent have not changed. I don't care about evictions.

 

So your tenant is not permitted to stop paying rent, but does. They are staying anyway.

Is the thread about evictions in Sydney or semantics?

 

Well in that case I would do something similar to what @Patrico1966 posted and I think a simple solution would be:

1. Tenant pays full rent regardless of immediate financial position- tenant should get govt funding within 2 weeks of losing his/her job. This funding is a known amount.
2. Landlord accepts full rent as per normal until end of lease
3. Tenant lease cannot be broken unless with the approval of the Landlord as per standard agreement
4. PM and landlord to have no impact on the tenants financial position- this is between the Govt and the tenant. This means no discussion, financial advice or bargaining to be had with the tenant regarding a drop in rent or rent rent waiver of any kind.
5. Tenant can be evicted at the end of the lease if it is found that there is cheaper accommodation which they can afford. Previous payments from the govt to them should reflect the tenants ability to pay via a means test.
6. Landlord can allow an extra person to move into the accommodation, this is with the express purpose of the landlord receiving full rent.
7. Landlord cannot increase rent as per rental agreement.
8. If a landlord wants to let the tenant reduce his/her weekly rent- this decision is theirs.

Note how simple this is;

It is for residential only.
All tenancy codes in all states should be adjusted to reflect this. Codes to be reviewed in 6 months or whenever the govt decides that the virus is under control and lockdowns etc are removed