There has been a lot of talk around the latest update published by Consumer Business Services on 21st August 2023. This is the Residential Tenancies (Protection of Prospective Tenants) Amendment Act 2023.
However, it is important to note that these changes are still not in effect, despite the communication saying this amendment commences 1st September 2023.
Why is that?
It is awaiting supporting regulations (which will specify the finer details of the amendment).
"There are no requirements under this section that must be complied with until the supporting regulations have been finalised."

So what is the change?
Rent bidding and advertising at a fixed amount.
A landlord (or agent) must advertise premises at a fixed amount and must not solicit or otherwise invite an offer for higher rent.
This doesn’t necessarily prevent a tenant from offering a higher rent, but a landlord or agent cannot invite or solicit it in any way. As far as the industry is concerned, this is already best practice and I don’t know any agents who invite tenants to offer a higher amount, but may be especially prevalent in the private landlord market.
Protecting tenant information
A person who holds tenant or prospective tenant personal information must take reasonable steps to protect the information from misuse, interference or loss and from unauthorised access, modification or disclosure.
A person who holds prospective tenant personal information must destroy the information after a tenancy has been entered into with the successful tenant within 30 days or with the prospective tenant’s consent within 6 months (i.e. the person may be facilitating further rental applications for the prospective tenant).
A person who holds tenant personal information must destroy the information within 3 years after the tenancy has ended.
Essentially this change will mostly affect private landlords and agents, in how we handle the information.
We must ensure the information is secure and that we practice cyber security best practice, we must destroy tenancy applications with successful tenants after 30 days.
The last one is likely to affect tenancies currently in place, we must destroy personal information 3 years after the tenancy has ended.
The delay in this legislation is due to the definition of what is “prescribed information”. The assumption is that this might be forms of identification, bank statements etc, but until this is defined, this legislation is entirely not applicable.
The other important thing to note, is there were a number of proposed changes floated, but these have not been legislated yet, so the landscape as we know it remains unchanged.
Based on how the information has been distributed since the start of the year, it is likely it will be rushed through, much as this amendment has been, and the government and supporting bodies will not be ready for the changes.
It is important for you as a landlord to ensure you are ready.
It is advised to begin acting as if the changes are already in place, and I urge you to read my other blog articles highlighting the proposed changes so you are prepared for what is coming our way.
Of course, if you had anything you were unsure of, happy to chat anytime, I am always just a phone call away! 0426 241 676 or hello@tayloredproperty.com.au
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