The Residential Tenancy Agreement (RTA) Amendment Bill has now been passed into law and this is great news for landlords.
After August 27, tenants will be responsible for lesser of four weeks rent or the landlord’s insurance excess for careless damage at the property.
For tenants to understand just how much they would need to pay in the event of damage, landlords now need to provide their insurance information, including the excess details.
If you fail to do this, you risk being fined $500 penalty per tenancy.
