July 27th 2024.
Landlords in New South Wales will soon face stricter regulations when it comes to evicting their tenants. Premier Chris Minns is set to announce these changes at the NSW State Labor Conference, keeping his promise to improve the state's housing system. These new laws will require landlords to have valid reasons for ending a tenancy, whether it is a continuous lease or a fixed-term agreement. They must also provide evidence of these reasons in their termination notice or face penalties.
One of the main changes is the extension of the notice period for terminating a periodic lease from 30 days to 90 days. In addition, fixed-term agreements of less than six months will now require a 60-day notice, and those of more than six months will need a 90-day notice. These changes bring NSW in line with other states like the Australian Capital Territory, South Australia, and Victoria.
Premier Minns wants to assure everyone that these reforms do not mean that troublesome tenants cannot be evicted. However, he acknowledges the challenges and uncertainties that come with renting in the current market. With long queues for rental properties becoming a common sight, it is clear that renting has become a daunting task for many. These new laws aim to strike a balance and provide both homeowners and renters with more stability and peace of mind.
Housing and Homelessness Minister Rose Jackson believes that these changes will bring much-needed certainty for renters. She acknowledges the struggles that renters face, such as difficulties finding employment, starting a family, or building a sense of community, due to the constant fear of eviction for no reason. Jackson emphasizes that renters who fulfill their responsibilities should not have to live in constant limbo.
These proposed laws come as a relief for renters, especially as rental prices continue to rise across NSW. In June 2024, the median price for rental houses in Sydney was at a record high of $750, a 7.1% increase from the previous year. While many governments focus on increasing the supply of housing to gradually ease prices, few have implemented policies to address the immediate issue of rising rental costs.
The federal government did increase Commonwealth Rent Assistance in the recent budget, and the ACT has some restrictions on rent increases. However, the ACT is the only state or territory where rents have actually decreased in the past year, albeit by a small margin. As we look forward to the Paris 2024 Olympic Games, Channel 9 and 9Now will bring us live and ad-free coverage, while Stan Sport will offer every event in 4K resolution.
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