I understand that there have been some substantial changes to retail leases legislation in NSW and Victoria and what impact do they have on landlords?
A. One of the most significant changes in NSW has been in the area of security bonds and as from 31 March 2007 all landlords are to deposit all tenants’ security bonds with the Director General of the Department of State and Regional Development irrespective of when the tenancy commenced. As a result it will become far more difficult for landlords to make a claim against the bond with landlords having to make a written application to the government setting out the basis for their claim. Should the tenant disagree with the claim then the dispute may be referred to the tribunal for resolution. Issues relevant to Victoria follow.
