On November 1, 2019, the ACT Government will be implementing amendments made back in February to the Residential Tenancies Act, it was announced this week.

The Real Estate Institute ACT is concerned as the notice period may result in both landlords and tenants not having a full understanding of the legislation and therefore their responsibilities.

As no education program has been undertaken by the ACT Government, the REIACT will be providing educational seminars for its members to reinforce their responsibilities in regards to their clients, along with a full revision of the legislative changes.

“We were given assurance we would get ample notice that the implementation of the amendments would be by March next year,” said REIACT Director, Hannah Gill.

“But now it’s less than a month (before the amendments will be in place) and we are just really disappointed at the way it’s been handled.

“We want positive outcomes for both tenants and landlords but despite forwarding our submission with recommendations to the Government, during the consultation process, none were taken up.”

The REIACT is concerned that although the ACT Government Fact Sheet released today is comprehensive in the detail of a landlords’ responsibilities under the new legislation, it fails to comprehensively explain the ramifications for tenants, should they not comply with legislative requirements.

“There has been a very big pushback from landlords around the proposed calculations for rent increases as to whether it is fair and equitable,” REIACT Director Craig Bright said.

"The biggest fear in the real estate industry is that investors will exit the market as the costs will be too prohibitive.

"We (Australian Capital Territory) already have the highest land tax rates in Australia and now landlords are concerned they will not be able to recover that, as well as rates, insurance and maintenance in rent increases."

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