Legislative changes for landlords in the Adelaide Hills
Big news this month: Fixed term or periodic term tenancies can be ended if a landlord is looking to sell.
From 1 September, if you’ve signed a sales agency agreement with a registered agent, you can end a fixed term or periodic lease (with 60 days’ notice) to put your property on the market.
In other words, landlords won’t have to wait until the end of the lease in order to sell a property. As long as a landlord has a sales agency agreement with a registered real estate agent that requires the property to be vacant, they can end a tenancy.
This is a big win for landlords.
Last year, landlords lost the right to end a tenancy in order to sell. After strong advocacy, that right is officially back.
Why this matters?
We know from last month’s market update that rental stock is down 19% vs. August 2024. It was already a strained market but with the news about the 5% deposit in areas like Mount Barker, there will be more first-time homeowners looking to make a move in our area. It’s a great time for landlords to provide more supply this selling season, and beyond.
Maddy Nitschke, our Director of Property Management, had this to say about the news.
“This doesn’t mean that every single tenancy is going to end, and every investment property will sell. What it does mean is a landlord has the confidence and the flexibility to do what they need to do to support their investment journey,” Nitschke said.
This highlights the need to partner with an experienced real estate agency who understands unique aspects of the Adelaide Hills market, the current supply and demand, and buyer/seller behaviours.
That’s us.
If you’ve got questions or a tenancy in place and you’re trying to figure out the best steps for you moving forward, we’re here to help. Our property management team is across all the legislative updates and can advise on how they affect your investment property, here in the Hills.
If you’re a renter, worried about how these changes will affect you, we can also help. Having operated in the Adelaide Hills for 25 years, we represent hundreds of landlords and take pride in the strength of our relationships.
Keep an eye on our houses for rent in the Adelaide Hills.
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