The NSW Government has introduced an interim 60-day stop on landlords seeking to evict tenants due to rental arrears as a result of Covid-19, together with a longer six month restriction on rental arrears evictions for those financially disadvantaged by Covid-19.
For tenants to be eligible for any “hardship/rent reduction” consideration they are required to provide proof that the “household” income (inclusive of any government assistance) has been reduced by 25% or more, due to Covid-19. Either they have lost their employment or income, their hours have been reduced, or they have had to stop work due to illness with Covid-19.
Under this new legislation a landlord is required to negotiate a rent reduction with the tenant in the first instance & can only seek to give a termination notice or apply for an eviction after the interim 60-day stop.
All tenants who are not impacted by Covid-19 are expected to honour their existing tenancy agreement including paying all rent & charges in full.
Now more than ever it is imperative that landlords have an experienced property manager who is up to date with all the legislative changes, working on their behalf, to ensure minimal financial impact to themselves & their investment property during this pandemic. Contact me today, if you would like to discuss this or any of your property management needs or problems.
Take care & please stay well.