19 July 2019
The draft Residential Tenancies Regulation 2019 (NSW) is now open for public consultation. The closing date for public and industry submissions is Friday, 2 August 2019.
The Government’s Regulatory Impact Statement (RIS) – which accompanied the proposed Regulation explains the objectives and rationale of the proposed regulation and its impacts – poses 41 questions, one of which addresses the commencement date and its appropriateness.
The Regulation provides the administrative detail to support the operation of the Residential Tenancies Amendment (Review) Act 2018 (NSW) (the Amendment Act), which was passed in October 2018.
NSW Fair Trading has proposed that provisions in the Amendment Act and the new Regulation are expected to commence on Monday, 2 December 2019 but that this date is subject to stakeholder consultation through the Regulatory Impact Statement process.
REINSW is working on a submission that will respond to the proposed draft Regulation.
NSW Fair Trading states the proposed draft Regulation has been prepared to support the changes to the Amendment Act, implement the majority of recommendations of the statutory review and modernise the provisions within current Regulation.
NSW Fair Trading’s website sets out some of the changes in the draft Regulation, which include:
“As with the statutory review of the Residential Tenancies Act 2010 (NSW), REINSW is focussed on achieving fair and equitable outcomes for all stakeholders,” says REINSW CEO, Tim McKibbin.
“Over one-third of NSW households rent their homes. Therefore, it’s important that the proposed Regulation meets the needs of tenants and landlords/investors, as well as the agents who manage the properties.”
Currently, reforms relating to domestic violence as set out in the Residential Tenancies Amendment (Circumstances of Domestic Violence) Regulation 2018 (NSW) – which commenced on Thursday, 28 February 2019 – are the only reforms derived from the Amendment Act that are currently in force.
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