Agents voice their concerns on the Residential Tenancy Bill 2009.
Ms Pilkington makes a series of very valid points. The proposed legislation is clearly not balanced between the owner and tenant when the tenant is only required to provide 21 days notice on a continuing lease, compared to 90 days. The current legislation is 21 vs 60 which is a clear illustration of tenants being given more and owners less. And the issue of minor works/ house repairs being allowed is a nightmare in the making. All this will create is disputes between owners and tenants which will end up in the CTTT – not good for either party. Lisa Indge, Let’s Rent.
I think these changes will force person(s) wanting to invest in residential real estate in NSW to look elsewhere. With many years in property management in Victoria, I find the Residential Tenancies Act in our state is finally working well and maybe NSW politicians should adopt the same or suffer the consequences. Good Luck Ms Pilkington. Tony Rachele, McLennan Real Estate
This is the sort of outrageous stupidity that ends up hurting the people it's designed to protect. Why on earth would a landlord offer a tenant fixed term security if he has only 14 days security in turn? [How is it fair ] that all tenants receive the benefits of periodic leases that are subject to 90 days notice regardless of "cosmetic improvements"? Want to paint my bedrooms your favourite colour and then give me 14 days notice of vacant possession? I don't think so. My house, my terms. Don't like it, try renting from the Government. Mark Seares, Penark Property Services.
This proposed Bill is a disgraceful attempt by the labor government to further de-stabilise the residential investment market for reasons that are difficult to understand. This is the same government that introduced and then cancelled the Vendor Exit Duty which created the current low tenant vacancy factor. The REINSW are aware of the situation and are doing their utmost to influence changes. Letters of objection MUST be sent by as many industry people as possible to the Minister. Fred Andriessen, The Professionals.
Come now gentlemen....let us be fair. We all know that the tenant is at this moment paying most of, if not all of the mortgage cost of the landlords. The balance is made up with negative gearing. It is time that the tenants of this nation are given a fair go when it comes to something as basic as shelter. Shelter should never be used as a weapon on the poor and a means to making the RICH richer. Eddy Boehm.
Like a lot of agents with a major rent rolls, I get sick to death of reading and hearing these crazy stats and projections by so called industry research experts. The suggestion of a 10 per cent plus increase in rents in Perth is wrong. With a 4.8 per cent vacancy factor and growing, the chances of any increase let alone the number Australian Property Monitors (APM) are suggesting this is not going to happen. REIWA stats are very accurate and represent over 80 per cent of the market with the data provided by agents not made up from isolated samples. But APM got what they wanted – publicity. So easy to create a shock headline, publish it and bingo everyone gets involved. Why let the facts get in the way of a good story. David Airey (The views expressed in this item are David Airey's and not necessarily those of REIWA or REIA).
The media is so irresponsible. Not sure where they get their information from, but while the market is definitely moving, house prices have all fallen from last year. To say that median house prices have increased is irresponsible and giving seller’s a false impression of what their home is really worth. It makes it harder for those genuine sellers that are trying to move on with their next stage of their lives. Shortage of stock I see to be the next problem and that may push the prices up a little, but I don’t see the rentals moving up that amount. People should always have faith in their agent and rental agent and go with the advice they give them and not listen to such hype from the media. Gill Vivian, Acton.
I have been in this industry for over 18 years operating in the St George area in Sydney and I have seen the trends in the rental market go up and down. The latest news that the rents will soar again by over 4 per cent in NSW is a false statement. Sydney is a big place and this is totally generalising and not based on individual areas. This information places investors in a false sense of thought and will lead to rash decisions which may leave them with a vacant property. Val Atkinson, HT Wills & Co.
I am selling rent rolls around the country and over the last 12 months have only noticed moderate increases in the rents in SA, Vic and NSW. Other than a continuing shortage in housing across Australia, the rental market seems to be steady as she goes. In some states, vacant homes are on the market for longer and naturally the better quality homes move quicker than the basic stuff. So I can’t see anything in the market place that would indicate a reason for the 10 per cent increase predicted for this year. Great if it does, but I think they are being optimistic. Chris Goodway, MREI RLA.