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ARTICLE · 27 AUGUST 2010

New Residential Tenancies Act: Important Changes to Consider

Norton Rose Fulbright Australia
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The Residential Tenancies Act 2010 (Act), recently passed in the NSW parliament represents the first fundamental overhaul of residential tenancy law in New South Wales for over 20 years and follows detailed consultation with industry groups. It contains changes to existing tenancy law that will affect both landlords and tenants.

AustraliaReal Estate and Construction
Richard Cohen
Richard Cohen
Nicholas Afaras
Nicholas Afaras
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The Residential Tenancies Act 2010 (Act), recently passed in the NSW parliament represents the first fundamental overhaul of residential tenancy law in New South Wales for over 20 years and follows detailed consultation with industry groups. It contains changes to existing tenancy law that will affect both landlords and tenants.

Developers and land owners who are currently "holding" potential development sites with a residential component or renting completed units in a slow market, should consider the impact of the amendments on these tenancies and their sales and/or development timetables.

Background

The Minister for Fair Trading has stated that the aim of the Act was to modernise and reform the existing tenancy laws and has indicated that the new laws are a response in part to the increased prevalence of shared households and lifetime tenants.

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