Since 2017 the ACT Government reforms to the RTA have resulted in an unsustainable shift in rental provider / tenancy rights. Whilst some of these changes have achieved fair outcomes for both tenants and investment property owners, many have had unintended consequences which inadvertently penalise rental providers.
1. Minimum Standards – Ceiling Insulation
2. Removal of no cause termination clause
3. Right to grow food
4. Rent bidding
ACT Government has advised there will be no further consultation for these amendments, so we must now go directly to your local member, the Attorney General and Chief Minister to have your voice heard. As an investment property owner in the ACT there is no government funded body to represent you and your rights, so we urge you to join with the Real Estate Institute of the ACT to make the ACT Government listen.
The Real Estate Institute of the ACT has participated in consultation with the ACT Government, expressing concerns in relation to the mandating of minimum standard ceiling insulation and the end to no cause terminations.
The Real Estate Institute of the ACT is not against reforms. However, careful and fully costed reviews by the ACT Government are imperative to allow effective and achievable changes to the RTA. We are yet to see any plan as to how ACT Government will deliver the estimated 18,500 upgrades to properties requiring minimum standard ceiling insulation. If this program were to be delivered over five years, 71 rental properties per week would need to be assessed, upgraded and certified each week, and yet there has been no consideration given to supply chains, cost impost to investment property owners or lack of certified installers.
The removal of the No Cause Terminations will leave investment property owners without any option (which does not require or can be challenged with an ACAT hearing) other than selling, renovating or moving back into their property to end a lease. We need good policy that enables sustainability of tenancies, not policy that will exacerbate rental affordability and availability.
We need to get the message into the hands of your local member without delay
We’ve made it quick and easy for you.
Just click on the link above, choose whether you are an investment owner or real estate agent, then complete the required fields, then CLICK SEND and the email will be sent on your behalf.
Real Estate Institute of the Australian Capital Territory (REIACT) is the leading professional body for the real estate industry in the ACT – operating since 1974. Its mission is to enhance the standard of education, knowledge, professional development and business practice for its members and the wider community.