The Australian Capital Territory Real Estate Institute (REIACT) said it is concerned about the upcoming implementation of the amendments to the law on the use of tenants' leases. highlighting that this could cause problems for both owners and tenants.
Changes made earlier this year will come into effect next month. REIACT Director Hannah Gill said the ACT government has not yet put in place educational programs to relay changes to landlords and tenants.
"We were given assurances that the changes would be implemented by March next year, but it is less than a month before the changes are made. in place and we are really disappointed with the way it has been treated, "she said.
Gill stated that REIACT had forwarded recommendations to the state government during the consultation process, but that none had been retained. She said it was worrying that even though an information sheet describing the landlord's responsibilities had been published, the government had not explained in detail the ramifications of the tenant changes. .
Craig Bright, director of REIACT, said the changes had also raised concerns about whether the proposed calculations for rent increases are fair and equitable.
"The biggest fear in the real estate sector is that investors are leaving the market because the costs will be too prohibitive," he said. "We already have the highest property tax rates in Australia and homeowners now fear not being able to recover them, as will rates, insurance and the maintenance of the increase in rent."
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