One thing you can be sure of with us is, we always act in the best interest of landlords and we always act within the law.

The Covid19 pandemic has seen some changes to the tenancy laws to ensure everyone is protected and kept safe, particularly when there is a lot of anxiety around finances.

As a result, in these unusual times we may be required to play more of an intermediary role between tenants and landlords to comply with these new tenancy laws and the government’s relief package.

In a statement from NSW Fair Trading we have been advised we need to help both tenants and landlords reach an agreement which is equitable for both parties.

The statement advises consideration should be given to whether maintaining an existing tenancy with changed terms may be more viable than seeking termination and re-letting the property.

Fair Trading encourages us to ensure:

• the process for tenants is accessible and easy to understand
• both parties are aware Fair Trading can help with dispute resolution if an agreement can’t be reached
• correspondence is promptly communicated
• any evidence required from tenants is reasonable and sufficient to show the person is COVID-19 impacted and has suffered a loss of household income
• agreements for COVID-19 impacted tenants aren’t limited to deferring rent payments and can include variations of a tenant’s obligations such a reduced rent for an agreed period, reducing rent for the remainder of the lease term, or agreeing to break a lease agreement early due to financial hardship, with a reduction or waiver of the break fee
• the landlord is aware of available relief options including:
  • negotiating deferred mortgage repayments with their lender
  • land tax rebates for rent reductions
  • claiming tax losses
• accurate documentation of interactions and discussions with landlords and tenants during negotiations. This will be especially important if the matter progresses to NCAT.

For more information, visit https://www.fairtrading.nsw.gov.au/

Whilst we do appreciate the potential financial implications and worries on all parties concerned in this current situation, we must also not forget to prioritise the health and well being of everyone.

If you have any queries at all about the above information give us a call on 02 4956 9777 or send us an email to mail@newcastlepropertymanagement.com.au.