Coronavirus and real estate: can I make a landlord insurance claim for loss of rent?
Here is our advice to commercial and residential landlords regarding insurance options for recovery of rent during the coronavirus pandemic.
February 23, 2021
New rental standards designed to help tenants and landlords will be introduced soon.
The Residential Tenancies Amendment Act 2018, which comes into effect on March 29, contains more than 130 reforms.
A summary of how those reforms affect landlords and their rented premises is outlined below:
Some terminology will change as part of the reforms, including the following:
Old terminology | Updated terminology |
Premises | Rental Premises |
Landlord | Rental Provider |
Tenant | Renter |
Tenancy Agreement | Rental Agreement |
Information that a Rental Provider must not require from a Rental Applicant includes:
Rental minimum standards must be met prior to occupancy of a renter. If not, the renter can terminate the Rental Agreement. The following applies:
The following appliances and safety checks will apply:
Prescribed modifications may be carried out to Rented Premises not requiring the Rental Provider’s consent, including:
Modifications that cannot be reasonably refused include:
The Rental Provider must provide a Statement of Information to the Renter to include:
Urgent repairs limit has increased to $2,500 and is to be repaid within seven days.
All costs and charges associated with installation of a fixed internet service, including Broadband, is to be met by the Rental Provider.
Each Renter must be provided with a set of keys to the rented premises.
Renters can keep pets.
Rental increases can only be applied 12 monthly.
The Renter is entitled to mandatory compensation when the rented premises is being sold.
Tenancy Agreements entered into before July 1, 2020 may be exempt from some of the new rental laws until that agreement is terminated or a new Rental Agreement entered into.
The above is a brief summary of some of the new laws relating to residential tenancies and further information on specific reforms affecting your premises should be sought from your property manager.
If you need assistance navigating the residential tenancy reforms and guidance on how to best manage your rental property, our real estate experts at LDB are here to help you.
Simply call our property department on (03) 9875 2980 or send us a note via the contact form below.
Here is our advice to commercial and residential landlords regarding insurance options for recovery of rent during the coronavirus pandemic.
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