Updates to Selling, Management & Leasing, and Tenancy Forms March 2020

25 Mar 2020
EAC
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The changes required for Tenancy, Management, and Selling Agency Agreements are now live in our eForms system. All updated forms have a date of March 2020 in the bottom right corner of the form.

Close to 40 forms were updated due to the introduction of the Reforms and Regulation. In some cases, these were minor, especially in the selling agency, and leasing agreements. The Tenancy Agreements on the other hand have had significant changes across all 3 forms; EAC110, EAC110A, and EAC110B.

Below is a general overview of the changes of each form.

Selling Agency Agreements

Sales Inspection Report and Multilist Selling Agency Agreement (EAC001)

  • Update references to the Act and the Regulation where applicable
  • Update to Material Fact clause due to increased requirements and updated information

Sales Inspection Report and Multilist Auction Selling Agency Agreement (EAC002)

  • Update references to the Act and the Regulation where applicable
  • Update to Material Fact clause due to increased requirements and updated information

Sales Inspection Report and Exclusive Selling Agency Agreement (EAC011)

  • Update references to the Act and the Regulation where applicable
  • Update to Material Fact clause due to increased requirements and updated information

Sales Inspection Report and Exclusive Auction Selling Agency Agreement (EAC012)

  • Update references to the Act and the Regulation where applicable
  • Update to Material Fact clause due to increased requirements and updated information

Sales Inspection Report and Open Selling Agency Agreement (EAC013)

  • Update references to the Act and the Regulation where applicable
  • Update to Material Fact clause due to increased requirements and updated information

Sales Inspection Report and Sole Selling Agency Agreement (EAC022)

  • Update references to the Act and the Regulation where applicable
  • Update to Material Fact clause due to increased requirements and updated information

Rural Sales Inspection Report and Exclusive Auction Selling Agency Agreement (EAC014)

  • Update references to the Act and the Regulation where applicable
  • Update to Material Fact clause due to increased requirements and updated information

Rural Sales Inspection Report and Exclusive Selling Agency Agreement (EAC015)

  • Update references to the Act and the Regulation where applicable
  • Update to Material Fact clause due to increased requirements and updated information

Rural Sales Inspection Report and Open Selling Agency Agreement (EAC016)

  • Update references to the Act and the Regulation where applicable
  • Update to Material Fact clause due to increased requirements and updated information

Sales Inspection Report and Sole Selling Agency Agreement – Rural Land (EAC023)

  • Update references to the Act and the Regulation where applicable
  • Update to Material Fact clause due to increased requirements and updated information

Commercial/Industrial Sales Inspection Report and Exclusive Selling Agency Agreement (EAC017)

  • Update references to the Act and the Regulation where applicable

Commercial/Industrial Sales Inspection Report and Open Selling Agency Agreement (EAC018)

  • Update references to the Act and the Regulation where applicable

Commercial/Industrial Sales Inspection Report and Auction Selling Agency Agreement (EAC019)

  • Update references to the Act and the Regulation where applicable

Business Sales Inspection Report and Exclusive Selling Agency Agreement (EAC020)

  • Update references to the Act and the Regulation where applicable

Business Sales Inspection Report and Open Selling Agency Agreement (EAC021)

  • Update references to the Act and the Regulation where applicable

Revised Estimated Selling Price Form (EAC028)

  • Update references to the Act and the Regulation where applicable

 

Leasing, Management, and Tenancy Forms

Retail Lease (EAC030)

  • Item 5 updated to include option for CMI or a % increase based on what is greater
  • Item 8 updated to include option for CMI or a % increase based on what is greater
  • Clause 20, 23B and 26A reworded to bring them in line with the changes to items 5 & 8

Commercial Lease (EAC035)

  • Item 5 minor wording update
  • Item 8 minor wording update
  • Clause 20, 23B and 26A reworded to bring them in line with the changes to item 5 & 8

Statement of Property Details and Buyers Agency Agreement (EAC040)

  • Update references to the Act and the Regulation where applicable
  • Rewording of the 3 (b) Clause
  • Update to Material Fact clause due to increased requirements and updated information

Residential Exclusive Management Agency Agreement (EAC100)

  • Update references to the Act and the Regulation where applicable
  • Minor update to condition reference
  • Updates to wording of 4.1 (b), 4.1 (h), 4.6, 4.7
  • Material Fact references updated and additional Material Fact requirements added

Please note that due to the nature of the changes, use of previous versions of this form would be considered defective.

Property Inspection Report (EAC100A)

  • Update references to the Act and the Regulation where applicable

Holiday Letting Management Agency Agreement (EAC106)

  • Update references to the Act and the Regulation where applicable

Notice of Rent Increase (EAC108)

  • Note point 2 – 4 updated and added

Residential Tenancy Agreement Page 1 and 2 (EAC110)

  • Notes at the top of page 1 updated to reflect new prescribed form
  • Every section on this form has had some adjustments made to come into line with the prescribed form from NSW Fair Trading.

Please note that due to the nature of the changes, use of the previous version of this form would be considered defective.

Residential Tenancy Agreement Continued – Terms and Conditions (EAC110)

  • Changes to include the new Smoke Alarm, Utility, Alterations, Bond, Health Risks, Swimming Pools, Break Fees, and Photography and Video in line with the new Regulation
  • Signing page has been updated with more notes

Please note that due to the nature of the changes, use of previous versions of this form would be considered defective.

Residential Tenancy Condition Report (EAC110B)

  • Front page updates to information and additional notes
  • Last page has been expanded to 2 pages to include all additional requirements in relation to Utilities and Smoke Alarms, as well as new information requirements for Minimum Standards as well as other updates to wording.

Please note that due to the nature of the changes, use of previous versions of this form would be considered defective.

Residential Tenancy Notice of Termination (EAC120)

  • Section C updated to include other utilities

Please note that due to the nature of the changes, use of previous versions of this form would be considered defective.

Residential Exclusive Leasing Agreement (EAC131)

  • Update references to the Act and the Regulation where applicable
  • Section 2 updated to include additional items

Residential Open Leasing Agency Agreement (EAC132)

  • Update references to the Act and the Regulation where applicable
  • Section 2 updated to include additional items

Commercial/Industrial Exclusive Management Agency Agreement (EAC133)

  • Update references to the Act and the Regulation where applicable

Commercial/Industrial Exclusive Leasing Agency Agreement (EAC134)

  • Update references to the Act and the Regulation where applicable

Commercial/Industrial Open Leasing Agency Agreement (EAC135)

  • Update references to the Act and the Regulation where applicable

 

Fair Trading Documents

Section 47 – Disclosure – PSBA Act 2002 (OFTSEC47)

  • Updates to heading at the top and the reference to the Act

Section 49 – Beneficial Interest – PSBA Act 2002 (OFTSEC49)

  • Updates to heading at the top and the reference to the Act

Section 59 – Waiver of Cooling-off Period – PSBA Act 2002 (OFTSEC59)

  • Updates to heading at the top and the reference to the Act

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