In light of the recent heightened COVID-19 case numbers throughout NSW, new temporary measures have been put in place to support both tenants and landlords who are financially impacted as a result of COVID-19. 

Specifically, these measures have been introduced to prevent financially impacted residential tenants from being evicted and to assist landlords who agree to renegotiate rent.

The latest information related to these residential tenancy support packages is found on the NSW Fair Trading website, while a summary is as follows. 

At some time or another, many investors will receive a letter from their real estate agency advising that they are selling their property management interests to another business. That is, that the rent roll (the rental properties they manage) and perhaps other assets including the business itself will be sold to another business who will carry on the relationship with you from there. 

If you've had a great relationship with your existing agency (we hope you've been so lucky!), this news can be quite concerning. In this post, we discuss what happens when a real estate agency sells their property management business and what to consider before signing a new managing agency agreement with any agency.