Better terms for investors
Important Update on Tenancy Legislation Changes
New legislation heading to Parliament this month will bring significant changes for landlords and tenants:
Reintroduction of 90-Day "No Cause" Terminations:
Landlords will be allowed to end periodic tenancies without providing a reason.
Flexibility for Fixed-Term Tenancies: Landlords can also end fixed-term tenancies at their conclusion without a specific reason.
Shortened Notice Periods:
1. Notice for landlords to move into their properties or to house employees in periodic tenancies is reduced from 63 to 42 days.
2. The notice period for selling properties requiring vacant possession drops from 90 to 42 days.
These changes are set to take effect in early 2025 but will be discussed in Parliament this month.
