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New residential tenancies regime to commence on 31 January 2011
Released 6 December 2010

The NSW Government has today announced that the Residential Tenancies Act 2010 and the Residential Tenancies Regulation 2010 will both commence operation on 31 January 2011.

You can view copies of the Act and Regulation via the following links:

REINSW has effectively represented its members over the last five years to fight for an equitable residential tenancies regime and has consistently been involved in lobbying efforts. Most recently, REINSW has worked with NSW Fair Trading in relation to both the draft and final versions of the Regulation.

While REINSW has been pleased to see that many of its recommendations have been adopted, many changes are still required to ensure an equitable balance between landlords and tenants, according to REINSW CEO Tim McKibbin.

"We want to ensure that the residential housing market remains attractive to investors from all walks of life," he says.

The Regulation prescribes a new form of residential tenancy agreement and condition report. These new forms are being finalised by REINSW and will be available on REI Forms Live and in printed format for purchase prior to 31 January 2011.

The commencement of the new regime will bring with it many challenges and frustrations, says Tim.

"It will require changes to be made to agency practice and procedures as the CTTT delivers decisions on the interpretation of the new Act and Regulation."

He adds that REINSW will continue to provide industry leading training, forms, lobbying and other services to assist members through the transitional period.