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End of Rental Moratorium

We are in WA experiencing a huge shortage of rental accommodations. The issue was that the moratorium had led investors to flee the market.

The vacancy rate in the Perth metropolitan area was just above record lows, at one percent in February 2021, according to the Real Estate Institute of Western Australia (REIWA).

The ban on rent increases and some evictions was introduced in March 2020 by the state government to provide stability for people as thousands were losing their jobs and the economy was battered by COVID-19.

 Yet, once the eviction moratorium expires, many renters may be left in difficult situations as job losses have heavily impacted many.  

An investor’s gold mine in 2021

Perth property boom in WA - an investor’s opportunity in 2021

Thanks to record low-interest rates, booming mining activity, growing consumer confidence, and various government stimuli, it is a great time to consider property investment.

You don’t have to be a seasoned property investor or own multiple properties to invest in property. First-time homebuyers can also own investment properties in Perth.

How to correctly end a tenancy

A notice of termination for a tenancy agreement

Western Australia’s temporary changes to renting laws due to COVID-19 ended on Sunday 28 March 2021.

The usual rental laws under the Residential Tenancies Act 1987 (WA) came back into force.

There are steps necessary to legally end a tenancy.

Is now a good time to buy property?

With property prices and competition falling away, the short answer is yes — if you’re one of the lucky ones who remains financially secure.

It’s always property fundamentals that really matter and drive our markets in the long term: demographics, supply and demand, affordability, availability finance and economic trends. 

Can a tenant stop termination?

A residential tenancy will end when a tenant vacates the premises under a notice of termination lawfully issued by the landlord or when a court orders a termination.

A tenant has the following options to try to stop a termination and eviction action:

Rent Assistance Grants

Rent arrears assistance grants help tenants pay their outstanding rent debt that arose before 1 December 2020. Grants for 75 percent of rent arrears, up to a maximum of $4,000, will be paid directly to eligible landlords. This includes any rent that was waived or reduced during the moratorium emergency period.

Property prices in 2021

 

House hunters could be forced to add hundreds of thousands of dollars to their budget by the end of the year.

Western Australian property prices are expected to grow by 15 percent this year, according to REIWA’s revised 2021 forecast.

Market update

IMPORTANT NOTICE

Commercial rent relief and dispute claims to be extended 60 days after the emergency period

 The DMIRS  intend to amend the Commercial Tenancies (COVID-19 Response) Act 2020 (WA) to allow the following: 

 An eligible tenant can make a request for rent relief up to 60 days after the end of the emergency period in relation to loss of turnover experienced during the emergency period.

Parties to a small commercial lease can commence action up to 60 days after the end of the emergency period to resolve a dispute relating to a matter that arose during the emergency period.