On 19 June 2009 NSW Parliament assented to the Residential
Tenancies Amendment (Mortgagee Repossessions) Act 2009
(the Mortgagee Repossessions Act) which inserts
new sections 71A and 72 into the Residential Tenancies Act
1987 (NSW). The new sections commenced operation on the same
Section 71A of the Mortgagee Repossessions Act has the
it introduces a 30 day minimum notice period to vacate once a
mortgagee is entitled to possession of rented premises;
it provides rent relief for a period of 30 days after the
notice has been given to a tenant who is holding over after
termination of a fixed term lease agreement; and
it allows the mortgagee (or a person acting on their behalf) to
enter the rented premises to show prospective purchasers on a
reasonable number of occasions, subject to the tenant being given
reasonable notice of each occasion and agreeing to the date and
time of the inspections.
Importantly even if the mortgagee has obtained a court order for
earlier possession, section 71A(8) provides that section 71A has
effect despite the terms of any court order, contract or other
agreement. However, a tenant may agree to leave earlier,
particularly if they are concerned about the disruption from
inspections or repairs that the mortgagee may be entitled to
A mortgagee may only recover possession once the date specified
in the notice to vacate has expired. Section 72 (1A) prohibits a
mortgagee, where the tenancy agreement has been terminated, from
taking possession before the date specified in the notice to vacate
(being a period of at least 30 days).
The NSW government proposes a further 100 changes to the
Residential Tenancies Act 1987 but will provide a
consultative process prior to introducing changes into
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
In the years following the global financial crisis of 2008 many Australian investors lost their life savings as financial products failed and the Australian Stock Exchange shed over 3,000 points.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).