16 November 2022
NSW Fair Trading has advised in a media release this week that the regulator intends to review the NSW Retail Leases Act 1994 (‘the Act’). The changes will impact landlords, investors and tenants of retail/commercial property.
Read More15 November 2022
South Australia Consumer and Business Services (CBS) recently announced its intentions to reform the state’s current residential tenancy legislation, the Residential Tenancies Act 1995 (‘the Act’).
As of 15 November 2022, consultation with industry participants, including tenants, landlords, real estate agents and housing organisations has commenced. The consultation has allowed for the release of a discussion paper, marking the start of the most extensive review of the Act since 2014.
Consultation is open until 5 PM, Friday 16 December.
Read More7 November 2022
Consumer Affairs Victoria (CAV) has reported today that a now former Victorian estate agent has been heavily penalised through the revocation of their licence. The disciplinary action comes about as a result of repeated failure to effectively manage the agency's trust accounts and maintain proper trust account records.
CAV had previously reprimanded the agent for breaching their duties under the Estate Agents Act 1980 and its regulations.
Read More17 October 2022
NSW Fair Trading has today reported — in their Property Matters newsletter — that they are taking compliance actions against strata managing agents that do not meet their obligations.
The inspections are being undertaken as part of the regulator’s Strata Managing Agent compliance program, which involves targeting supervision requirements during inspections of NSW strata companies.
NSW Fair Trading has advised that “of the 44 inspections conducted during a recent one-week operation, 86% (38) were found to be breaching their obligations under property laws”.
Read More29 September 2022
South Australia Consumer and Business Services (CBS) announced in their ‘CBS Connect’ newsletter this week that they intend to review the current residential tenancy legislation, the Residential Tenancies Act 1995 (‘the Act’).
The announcement comes off the back of a recent forum held by CBS, where a discussion about issues in the SA private rental market was had. The intention of the review is to “modernise SA's rental legislation”.
Read More27 September 2022
The Queensland Residential Tenancies Authority (RTA) is encouraging tenants, property managers, and property owners to take time to understand the upcoming rental law reforms, including how the changes may impact their rights and obligations, and to make necessary preparations.
Read More14 September 2022
Consumer Affairs Victoria (CAV) has reported today that they will be targeting unfair business practices used by unethical estate agents, including the practice of underquoting. The property industry regulator has been allocated $3.8 million to allow inspectors, investigators, information analysts, and legal officers to effectively carry out the task.
Underquoting involves advertising a property for sale at “a price below the estimated selling price, the seller's asking price, or a price that has been rejected as too low by the seller”.
Read More12 September 2022
Consumer Affairs Victoria (CAV) has published a court outcome notice on their website today, advising that an estate agency has been convicted and fined in the Melbourne Magistrates’ Court. The conviction and disciplinary action are the result of the estate agency’s threats to deny three international students legal access to their rental properties at the beginning of the COVID-19 pandemic.
Read More7 September 2022
WA Consumer Protection has reported a rise in fake social media ads that make use of stolen images of legitimate rental properties, to lure in people eager to secure a rental property. Victims of these scams have fallen into the trap of making hasty decisions and transferring money to secure a rental property without carrying out proper checks. Consumer Protection has advised that landlords and agents must also be cautious when posting ads for rental properties, as scammers may respond.
Read More7 September 2022
Consumer Affairs Victoria (CAV) published a news alert on their website last week, outlining action being taken against an estate agent with a history of unprofessional conduct. The alleged misconduct includes the mishandling of clients’ money. The agent is now facing the prospect of being banned from holding an estate agent licence.
Read More30 August 2022
The new Property and Stock Agents Regulation 2022 supports the Property and Stock Agents Act 2002.
Almost all agent obligations remain the same. There are some minor changes that improve consumer protections and reduce the administrative load for agents.
Read More22 August 2022
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