Tenants, lessors and real estate agents across Western Australia will all benefit from Bills and amendments passed by the WA Parliament, according to the Real Estate Institute of Western Australia (REIWA).
The Residential Tenancies Amendment Bill 2015 and the Licensing Provisions Bill 2015, together with amendments to the Residential Tenancies Act, the Real Estate and Business Agents Act, and the Auction Sales Act passed on Wednesday, November 16.
However, real estate businesses won’t be able to implement the changes until the Bills and amendments are proclaimed and gazetted as Acts in the coming weeks.
REIWA chief executive officer Neville Pozzi said the changes were the result of initiatives put forward by the institute, which had been advocating for the major changes which he said would create direct savings for the real estate industry.
Mr Pozzi said the amendments would not only result in a reduction in administrative burden and cost savings for tenants, lessors and real estate agents, but also increased efficiencies, which were expected to contribute towards keeping downward pressure on rental costs for tenants.
The proposed amendments will include changes to the following:
Residential Tenancies Act changes:
- Will simplify the process when a lessor is required to issue a notice of proposed entry to the tenant;
- Will enable the service of notices and documents under the Act by electronic means; and
- Will remove the requirement for notices of abandoned goods to be advertised in a newspaper circulating throughout the State.
Real Estate and Business Agents Act changes:
- Will remove the prohibition on real estate agents from receiving commission prior to settlement from an off-the-plan strata sales transaction (as defined by the Act).
Auction Sales Act changes:
- Will allow auction licensing renewals to align with other industry license renewal periods, up to three years.