The Residential Tenancies Amendment Act 2024 introduces significant changes to tenancy legislation, with some taking effect from 30th January 2025 and others being phased in over time. These updates impact both landlords and tenants, making it crucial to stay informed.
Key Changes for Landlords and Tenants
The most notable change is that landlords can once again terminate tenancies for ‘no-cause’, giving them greater flexibility in managing their rental properties and choosing between fixed-term and periodic tenancies.
Periodic Tenancies
- Landlords can now give 90 days’ notice to end a tenancy without a specific reason.
- If the property is required as the landlord’s own residence, the notice period is 42 days (reduced from 63 days).
- If the property has been unconditionally sold, landlords can end the tenancy with 42 days’ notice (previously 90 days).
- Tenants can now end a tenancy with 21 days’ notice (previously 28 days).
- These changes take effect from 30th January 2025.
Fixed-Term Tenancies
- Landlords can now choose not to renew a fixed-term tenancy without providing a specific reason.
- If no notice is given by either party, and no renewal agreement is signed, the tenancy will automatically convert to a periodic tenancy.
- These changes apply to fixed-term tenancies expiring on or after 1st May 2025.
Additional Technical Changes
- The Bond Lodgement System is being modernised and digitalised.
- Updates to how notices and documents can be served.
- Tenancy agreements can now enforce no-smoking clauses indoors.
- Email addresses can be used for Tenancy Tribunal services.
Pet Bonds & Consent Rules – Not Yet in Effect
Proposed provisions regarding pet bonds and changes to pet consent rules will take effect at a later date, as determined by the Government.
For full details on these changes, visit: https://bit.ly/3VNcdee
You can also download the Tenancy Services Residential Tenancies Amendment Act 2024: Summary of Changes booklet here: https://bit.ly/3CnVGqF
If you have any questions about how these changes may affect you, feel free to reach out to the Evans Property Management team. We’re here to help!