Consumer News

By Tim McKibbin – REINSW CEO

NSW Fair Trading has made the listing of residential premises on the loose-fill asbestos insulation (LFAI) Register a material fact from 30 October 2016.

This means tenants must now be told if the premises they want to lease is on the LFAI Register, or becomes listed during their tenancy.

Whilst it is a positive step to have a public record of properties which contain LFAI, it is worrying that these premises are being leased in the first place.

A property listed on the LFAI Register should serve as a warning for people to stay away because they are uninhabitable and dangerous.

Unfortunately this new legislation is making it possible and could result in unsophisticated tenants agreeing to lease a premises with LFAI if their rent is discounted. This should be prevented, not encouraged.