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Corporate Law Assignment: Impact Of Moratorium Implemented By Western Australia On Reiwa

Task: Background: In April 2020, the Western Australian Government (State Government) introduced a six month moratorium on residential tenancy evictions and rental increases. These laws were designed to protect tenants during the COVID-19 pandemic. The emergency residential tenancy laws applied to those in private and public housing, residential long-stay parks, as well as boarders and lodgers. In September 2020 the State Government extended the moratorium until 28 March 2021 in an effort to preserve stability and certainty in the rental market. There has been considerable media coverage and public commentary on the emergency residential tenancy laws which come under the Department of Mines, Industry Regulation and Safety. You can explore the laws and the various elements of the State Government’s residential tenancies COVID-19 response at protection/residential-tenancies-covid-19-response But according to a series of reports by WA Today, COVID-19 has had an additional impact on Western Australia’s rental property market – a lack of rental properties. This is largely due to an increase in demand from people returning or moving to Western Australia and looking for a new property. According to REIWA President Damian Collins constrained supply is also exacerbating the issue, with properties not being made available because of the moratorium and a lack of investment. “Normally when you would get a vacancy rate this low, you would expect a significant number of investors to come back into the market,” Mr. Collins said. “But we have got investor finance at about 30 to 40 per cent of where it should be and that’s because the downturn has made investors gun-shy, the moratorium has then made them even more cautious and there is a shortage of properties with a lot of competition from owner occupiers.” Properties listed for sale in Perth dropped to a ten-year low in February, with just 7899 properties listed with REIWA, down 36.5 per cent year-on-year. The emergency measures implemented during the onset of COVID-19 will be revoked on March 29. The overnight ‘shock’ is expected to trigger a wave of movement in the market. Landlords can again ask existing tenants to pay more rent, and they can ask tenants to leave if they are on a periodic lease, in rent arrears, or have not met other standards and responsibilities. During the moratorium, fixed-term leases automatically converted to periodic leases unless they were re-signed, meaning a larger number of renters are now on periodic leases and able to be terminated with 60 days’ notice. This may happen if the landlord is selling or moving back into an investment property, for example. You can explore WA Today’s stories on this topic at Task: Choose one of the following four organizations: • REIWA (Peak industry body representing real estate agents) • Department of Communities and Housing (Western Australian Government) • Ray White Real Estate (real estate company) • Mission Australia (non-profit provider of crisis services) Taking on the role of Public Relations Manager, prepare a corporate law assignment presenting a Report for the CEO of your chosen organization on the issue of the end of the residential tenancy laws in Western Australia.

Subject Name: Corporation Law_x000D_

Level: Postgraduate

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