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The New South Wales (NSW) Government has introduced significant rental law reforms aimed at creating a fairer rental market. As an apartment investor, understanding these changes is crucial to ensuring compliance, maintaining strong tenant relationships, and safeguarding your investment. Let’s break down what these reforms mean for you and how they could impact your rental properties. Key Changes Since 31 October 2024 Restrictions on Rent Increases Under the new legislation, rent increases are now limited to once every 12 months, regardless of lease type. Additionally, landlords and agents cannot increase the rent within the first year of a tenancy, ensuring greater stability for renters. While all tenants will be covered by these new rules moving forward, any fixed-term lease of less than two years that commenced before 31 October 2024 with a rent increase clause will still follow the existing terms until renewal or termination. Investor Impact:  This change requires landlords to be strategic when setting initial rent prices and long-term financial planning. Reviewing lease terms carefully and staying updated on rental market trends will be key to maintaining profitability. Ban on Upfront Fees & Additional Charges Property seekers and new tenants can no longer be charged fees when applying for or starting a lease. The only upfront costs landlords or agents can request are: Holding fee : A maximum of one week’s rent, credited toward rent upon lease signing. Rent : Payment covering the first rent period. Rental bond : Capped at four weeks’ rent, processed through Rental Bonds Online. Lease registration fee : Only applicable for fixed-term agreements of three years or more, payable to NSW Land Registry Services. This means landlords and agents cannot  impose additional charges for: Conducting background or reference checks Preparing lease agreements Arranging property viewings Providing initial keys or access devices Charging pet bonds Any other miscellaneous fees These rules apply universally, regardless of whether a lease has been signed or a formal application has been submitted. Investor Impact:  Landlords will need to cover administrative costs previously passed on to tenants. It’s essential to budget for these expenses and consider them when setting rental rates. Major Reforms in 2025 Just Cause Eviction Rules One of the most substantial changes is the requirement for landlords to provide valid reasons to terminate a lease, effectively banning ‘no grounds’ evictions. Acceptable reasons include: Tenant breaches of lease agreements Sale of the property Major renovations Owner moving into the property Investor Impact:  This reform means that investors need to ensure clear documentation of lease breaches or strategic planning when selling or renovating properties. Being proactive with lease management and maintaining a strong communication channel with tenants is more important than ever. Pet-Friendly Rental Rules New rules will make it easier for tenants to have pets. While landlords can still refuse pet requests, they must provide a valid reason. If a dispute arises, tenants can appeal the decision to the NSW Civil and Administrative Tribunal. For tenants in apartment/community living, they'll still need to satisfy any applicable by-laws. Investor Impact:  Investors may need to reassess their stance on pets. Pet-friendly apartments can attract a wider pool of tenants and potentially lead to longer lease agreements. However, it is important to review lease terms to ensure protections against property damage caused by pets. Introduction of the NSW Rental Taskforce To oversee compliance with these new regulations, the NSW Government has set up a dedicated Rental Taskforce under NSW Fair Trading. This taskforce will monitor rental practices, conduct inspections, and address breaches of the new laws. Investor Impact:  Staying informed and compliant is essential to avoid penalties. Consider consulting property management professionals or legal advisors to ensure your lease agreements and property management practices align with these new regulations. What This Means for Apartment Investors These rental law reforms are designed to enhance tenant security, but they also require property investors to adjust their strategies. Here’s how you can prepare: Plan for Long-Term Stability : With annual rent increase limits, focus on maintaining occupancy and reducing turnover costs. Ensure Clear Lease Agreements : Clearly outline terms related to renovations, property sales, and lease breaches. Consider Pet Policies Strategically : Weigh the benefits of allowing pets against potential maintenance concerns. Stay Informed & Compliant : Keep up to date with regulations and consider working with property managers who understand the legal landscape. Navigating these regulatory changes can be complex, but taking a proactive approach will help you maximise your rental income while staying compliant. A well-maintained building not only attracts quality tenants but also commands higher rents and enhances capital growth. That’s why engaging an experienced strata manager like Compass Strata can be key to your return on investment. For expert strata management, contact Compass Strata  today.

The NSW Government has officially delayed the implementation of new fire safety regulations until 13 February 2026. Originally set to take effect in early 2025, these reforms aim to enhance fire safety standards, upgrade alarm systems, and improve evacuation protocols in residential buildings. The decision to postpone the new fire safety laws comes after feedback from property stakeholders, including strata managers, developers, and fire safety professionals. The reforms introduced new compliance requirements, which many older buildings struggled to implement within the initial timeline. Key Changes to Fire Safety Regulations Australian Standard (AS) 1851 Compliance Deferred The requirement for fire protection systems and equipment maintenance to comply with AS 1851 has been pushed back by 12 months . The enforcement date is now 13 February 2026. This delay allows property owners additional time to align their fire safety maintenance practices with regulatory expectations. Accredited Practitioner Assessments Postponed The requirement for fire safety certificates to be based solely on assessments conducted by accredited practitioners (fire safety) has been deferred by 24 months , moving the commencement date to 13 February 2027. This extension ensures adequate time for the establishment of a robust accreditation framework and for practitioners to meet certification standards. Fire Safety Schedules and Compliance Actions Fire Safety Schedules (FSS) can now incorporate work required due to compliance actions. This means that any rectifications mandated by Building Work Rectification Orders (BWROs) or other regulatory directives will be reflected in updated fire safety documentation. Clarifications and Minor Amendments The regulations also include minor amendments to correct drafting errors, remove inconsistencies, and clarify ambiguities to improve compliance clarity. What This Means for Strata Owners and Committees This extension provides a crucial opportunity for strata owners, committees, and property managers to: Assess current fire safety compliance levels. Plan and budget for necessary upgrades without immediate financial strain. Avoid penalties by ensuring all fire safety measures are up to standard before the new deadlines. Engage accredited practitioners ahead of the 2027 requirement to streamline compliance efforts. Next Steps for Owners and Managers With the deferral of these critical regulations, owners corporations should take proactive steps to ensure their buildings remain compliant. Now is the time to review fire safety schedules, arrange necessary inspections, and consult with fire safety professionals to address any existing issues. If you need expert guidance on strata management and ensuring your community meets all regulatory requirements. Contact Compass Strata today for a consultation and stay ahead of the game.

The Reserve Bank of Australia (RBA) has just (18/02/2025) handed down a 0.25 basis point cut to the official cash rate, bringing it down to 4.1% — a much welcome relief for mortgage holders who’ve been sweating bullets over their repayments. If you’ve been rationing your smashed avo toast to make ends meet, this might just be the breather you needed! What This Means for Apartment Owners If you’ve got a variable-rate mortgage, congratulations! You just scored a small win. The big banks — Westpac, Commonwealth Bank, NAB, and ANZ — are all passing the savings on. If you’ve got a $600,000 loan, you’ll save about $92 a month — enough to cover your coffee addiction (with maybe a cheeky muffin on the side). If your loan’s sitting at $750,000, that’s an extra $115 in your pocket, and for those juggling a $1 million mortgage, you’re looking at $153 in monthly savings. Not exactly a winning lotto ticket, but hey, every little bit counts! If your loan’s sitting at $750,000, that’s an extra $115 in your pocket What About Apartment Buyers? If you’ve been eyeing off that dream apartment, this rate cut could mean you can borrow more. Canstar reckons an average-income earner might get around $12,000 extra in borrowing power, while couples could see a boost of about $23,000. But hold your horses, lower rates can also drive property prices up, so don’t go throwing your deposit at the first overpriced shoebox you find. Do your homework and make sure you’re not stretching yourself too thin! As some have learnt the hard way, interest rates can go up, and go up fast! Thinking About Refinancing? If your mortgage is feeling a little too spicy for your liking, now might be a great time to refinance. With rates dropping, lenders will be keen to win your business with more competitive offers. But before you go jumping ship, make sure to check for sneaky fees, break costs, and the fine print (nobody likes surprises, especially when they cost money). A chat with a mortgage broker might help you make the smartest move. Bigger Picture Stuff The RBA’s decision is all about keeping inflation under control while making sure people can still afford to, well… live. Inflation’s cooled off to 2.4% from its previous 7.8% peak (phew!), so the goal is to keep things stable without tanking the economy. The good news? Borrowers get a break. The bad news? Savers might see lower returns. Swings and roundabouts, as they say. We've Got Your Back? Whether you’re a proud apartment owner, a hopeful buyer, or just trying to make sense of it all, having the right team in your corner is key. That’s where Compass Strata comes in. As experienced strata managers, we know a thing or two about balancing the books and keeping owners corporations in check. Need help navigating budgets, levies, or financial planning for your building? Compass Strata has got you covered. Reach out today and let the experts take the stress out of strata management!

Contact Compass Strata, your premier choice for expert strata management solutions in Sydney. Let us streamline your strata operations. Get in touch with a better Strata Manager today. Contact Us At Compass Strata, we are always here to help you navigate the complexities of strata and community management. Contact us today for assistance or to learn more about our services. Send Message Thank You for Contacting Compass Strata! We appreciate your interest in our services. One of our team members will be in touch with you soon. In the meantime, feel free to explore our website to learn more about what we can do for you. Mailing address: PO BOX 20300 World Square NSW 2002 Community Insights A blog by Compass Strata :: Explore . Engage . Empower Compass Strata 2 min read NSW Fire Safety Reforms Delayed Until 2026 The NSW Government has officially delayed the implementation of new fire safety regulations until 13 February 2026. Originally set to... Compass Strata 2 min read Welcomed Cozzie Livs Relief for Mortgage Holders The Reserve Bank of Australia (RBA) has just (18/02/2025) handed down a 0.25 basis point cut to the official cash rate, bringing it down... Compass Strata 4 min read Sydneysiders Say Yes to Higher-Density Living Sydney’s skyline is changing, and so are its residents' attitudes toward apartment living. As the city continues to grow, apartments are... 1 2 3 4 5

Elevate your strata experience with Compass Strata's tailored solutions. Our commitment to leadership and excellence ensures smooth functioning and growth for your community. Experience proactive problem-solving and partnership - Your Sydney Strata Manager. Our Services 01. Strata Management Navigating Success Together, Compass Strata At Compass Strata, we are dedicated to elevating your strata experience by providing tailored solutions that address the unique needs of your community. Our commitment to leadership, partnership, and excellence sets us apart, guiding property owners towards success. With a focus on transparency, collaboration, and proactive problem-solving, we strive to ensure the smooth functioning and growth of your residential, commercial, retail or industrial strata community. Explore a new era of strata management with Compass Strata, where your community's well-being is our top priority. Meet our Featured Communities Services Comprehensive community management guaranteeing the seamless operation of your community Administration & Secretarial Maintain strata roll & records Prepare meeting agendas & minutes Facilita tion of meetings Enable strata searches Provide relevant certificates for the sale & purchase of property Address owner inquiries Financial Management Establish & manage trust account Annual budget preparation Collection of levies Debt recovery action Manage payments Prepare trust account audit Statutory reporting Technical & Compliance Manage building insurance & claim Coordinate statutory building compliance & certification Common property repair & maintenance Register and uphold by-laws Defect/Project management 365 Afterhours Emergency Support Online Meeting & Voting 24/7 Customer Portal Online Payment Authorisation Transparent & Responsive Communication is key. Compass Strata prides itself on transparency and responsiveness, keeping you informed and involved in every aspect of your community's management. Tailored Solutions We understand that each community is unique. Compass Strata prides itself on delivering bespoke solutions crafted to meet the specific needs of your community, ensuring harmony and efficiency. Extensive Experience With years of proven expertise, Compass Strata stands as a beacon of experience in strata management. Trust in our seasoned professionals to navigate the complexities of community management effortlessly. Innovative Technology Stay ahead with Compass Strata's tech-forward approach. Our use of cutting-edge technology streamlines processes, enhances communication, and keeps your community on the forefront of modern strata management. Request a Quote Choose Compass Strata, where experience meets innovation, and let us elevate your community management to new heights. Contact us today to embark on a journey of seamless strata management! Get in Touch Community Insights Community Insights A blog by Compass Strata :: Explore . Engage . Empower Compass Strata 2 min read NSW Fire Safety Reforms Delayed Until 2026 The NSW Government has officially delayed the implementation of new fire safety regulations until 13 February 2026. Originally set to... Compass Strata 2 min read Welcomed Cozzie Livs Relief for Mortgage Holders The Reserve Bank of Australia (RBA) has just (18/02/2025) handed down a 0.25 basis point cut to the official cash rate, bringing it down... Compass Strata 4 min read Sydneysiders Say Yes to Higher-Density Living Sydney’s skyline is changing, and so are its residents' attitudes toward apartment living. As the city continues to grow, apartments are... 1 2 3 4 5

Contractors providing services to strata and communities under Compass Strata's care for the first-time are required to complete the Contractor Registration process for compliance and payment purposes. Contractor Registration Compliance Matters Committed to Excellence At Compass Strata, we prioritise compliance and professionalism in every aspect of our operations, including contractor registration. We understand the importance of working with skilled and qualified professionals to ensure the safety and satisfaction of our clients. That's why we take contractor registration seriously, striving to build a network of reputable contractors who share our commitment to excellence. Join our team today and become part of a community dedicated to delivering high-quality services. We take pride in providing exceptional service to our valued customers and cherish long-term partnerships. We are actively seeking contractors who share our commitment to upholding the highest standards of quality and integrity in their industry. Company / Trading Name Your Trade / Profession Company ABN Primary Contact Name Phone Email Community You Intend to Service Trade Licence / Registration Type Licence / Registration Number Licence / Registration Expiry Date Public Liability Upload File Upload Certificate of Currency Professional Indemnity Upload File Upload Certificate of Currency Workers Compensation Upload File Upload Certificate of Currency Any Other Insurance Upload File Upload Certificate of Currency Account Name BSB Account Number I confirm the accuracy of the provided information, and acknowledge that Compass Strata will rely on it. Any updates or changes, including revised Certificate of Currency, must be promptly communicated to Compass Strata. Name of Authorised Person Position Submit Community Insights A blog by Compass Strata :: Explore . Engage . Empower Compass Strata 2 min read NSW Fire Safety Reforms Delayed Until 2026 The NSW Government has officially delayed the implementation of new fire safety regulations until 13 February 2026. Originally set to... Compass Strata 2 min read Welcomed Cozzie Livs Relief for Mortgage Holders The Reserve Bank of Australia (RBA) has just (18/02/2025) handed down a 0.25 basis point cut to the official cash rate, bringing it down... Compass Strata 4 min read Sydneysiders Say Yes to Higher-Density Living Sydney’s skyline is changing, and so are its residents' attitudes toward apartment living. As the city continues to grow, apartments are... 1 2 3 4 5