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!
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row]