COVID-19, Money, Wellbeing
Published on April 15, 2020 10:07 pm, by Pete Lalor
Rent Relief in New South Wales
|60 day freeze on any existing eviction notices||Where a tenant has not yet vacated the eviction notice is suspended|
|6 month moratorium on evictions for tenants suffering financial hardship due to COVID-19||To be considered as suffering financial hardship the tenants income or the income of their household must have reduced by 25% or more|
|Landlords and tenants are encouraged to negotiate rent relief in good faith where a tenant cannot pay their rent||Rent will accrue during any negotiation period and will continue to be owed to the landlord|
|Some other eviction criteria have been extended by 90 days|
|Land tax rebates and deferral of land tax is being offered to landlords as an incentive to support tenants suffering financial hardship due to COVID-19||Where a landlord provides tenants with a rent reduction equal to or more than 25% of their land tax the land tax will be rebated, Where are rebate is provided the land tax payment can also be deferred by 3 months|
More information on rent relief arrangements in NSW is available from NSW Fair Trading
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Peter is the CEO of MoneyBrilliant. He has over 20 years experience in banking, insurance and accounting. Peter has three sons, ranging in age from 16 to 3, is a sport and fitness fanatic and a volunteer firefighter. He is passionate about improving people's lives through making financial services more accessible.