Over-regulation isn't keeping landlords away: Tenants' Union of NSW
Despite common arguments that tenants having 'all the rights' will deter investors from buying, the Tenants' Union of NSW has hit back, saying that it appears that any regulation or slant from the legislation isn't keeping investors out of New South Wales.
Discussing claims made by the Real Estate Institute in 2010 that regulation in the Residential Tenancies Act might cause investors to "think twice about becoming a residential landlord", they noted that regardless of the statement investment in residential property is at an all time high.
In the REI's preliminary submission on the draft Residential Tenancies Bill 2009, they'd noted that the property market in New South Wales must be kept attractive for both NSW and external investors.
However, the Tenants Union argued that research consistently shows that the rights of tenants and landlords are far down the list when it comes to decisions to invest or disinvest in property and that, in fact, we're at a high in terms of money sitting in residential investment properties.
Have concerns about the Residential Tenancies Act ever stopped you or someone you know from purchasing?