Updates to Sales, Management, and Tenancy Forms

6 Jul 2023
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At EAC, ensuring compliance for our members and customers is a top priority. To achieve this, we regularly conduct form reviews in collaboration with our legal partner.

Our objective is to assess form compliance with the Property and Stock Agents Act 2002 and the Property and Stock Agents Regulation 2022.

Bulk Updates

During the review process, we made updates to a total of 27 property forms to reference the Property and Stock Agents Regulation 2022. Page 1 of all the 27 forms was updated with the following statement: “3. The Property and Stock Agents Act 2002 and the Property and Stock Agents Regulations 2022 require all agreements to be in writing and contain prescribed terms.” The list of the updated forms is outlined below.

Form IDForm Name
EAC001Sales Inspection Report and Multilist Selling Agency Agreement (EAC001)
EAC002Sales Inspection Report and Multilist Auction Selling Agency Agreement (EAC002)
EAC011Sales Inspection Report and Exclusive Selling Agency Agreement (EAC011)
EAC012Sales Inspection Report and Exclusive Auction Selling Agency Agreement (EAC012)
EAC013Sales Inspection Report and Open Selling Agency Agreement (EAC013)
EAC017Commercial/Industrial Sales Inspection Report and Exclusive Selling Agency Agreement (EAC017)
EAC018Commercial/Industrial Sales Inspection Report and Open Selling Agency Agreement (EAC018)
EAC019Commercial/Industrial Sales Inspection Report and Auction Selling Agency Agreement (EAC019)
EAC100Residential Exclusive Management Agency Agreement (EAC100)
EAC100AProperty Inspection Report (EAC100A)
EAC016Rural Sales Inspection Report and Open Selling Agency Agreement (EAC016)
EAC015Rural Sales Inspection Report and Exclusive Selling Agency Agreement (EAC015)
EAC020Business Sales Inspection Report and Exclusive Selling Agency Agreement (EAC020)
EAC021Business Sales Inspection Report and Open Selling Agency Agreement (EAC021)
EAC106Holiday Letting Management Agency Agreement (EAC106)
EAC131Residential Exclusive Leasing Agreement (EAC131)
EAC132Residential Open Leasing Agency Agreement (EAC132)
EAC133Commercial/Industrial Exclusive Management Agency Agreement (EAC133)
EAC134Commercial/Industrial Exclusive Leasing Agency Agreement (EAC134)
EAC135Commercial/Industrial Open Leasing Agency Agreement (EAC135)
EAC014Rural Sales Inspection Report and Exclusive Auction Selling Agency Agreement (EAC014)
EAC040Statement of Property Details and Buyers Agency Agreement (EAC040)
EAC023Sales Inspection Report and Sole Selling Agency Agreement - Rural Land (EAC023)
EAC022Sales Inspection Report and Sole Selling Agency Agreement (EAC022)
EAC100ALTAlternate Residential Exclusive Management Agency Agreement (EAC100ALT)
EAC131ALTAlternate Residential Exclusive Leasing Agreement (EAC131ALT)
EAC132ALTAlternate Residential Open Leasing Agency Agreement (EAC132ALT)

Major Updates

Out of the 10 forms with notable updates, Residential Management and Residential Sales forms underwent the most significant changes.  Refer to the full summary below. 

Residential Management Forms Updated

Regulations and section of the form affectedRelevances and changes made
Residential Tenancies Act 2010. The relevant parts of the Act in relation to rent increases are ss 41, 42, 99, and 233. s 41(2), at the “NOTE” sectionNew item: 5. This form of notice must be given in respect of an increase in rent payable upon renewal of a residential tenancy agreement as if the new increase were an increase during the term of the agreement.
s 41(4), at the “NOTE” sectionNew item: 6. The residential tenancy agreement will be varied to specify the increased rent from the date the rent is increased.
s 41(6), at the “NOTE” sectionNew item: 7. This rent increase notice may be cancelled or varied (so as to reduce the increase) by a subsequent written notice given to the tenant by or on behalf of the landlord. Any such later notices take effect from the date on which the earlier notice was to take effect.
s 99, at the “NOTE” sectionNew item: 8. A tenancy agreement for a fixed term of 2 years or more may be terminated by the tenant on the grounds that the rent has been increased. The termination notice must specify a termination date that is not earlier than 21 days after the day on which the rent increase notice is given and must be before the rent increase takes effect. The termination notice may specify a termination date that is before the end of the fixed term. The tenant will not be liable to pay any compensation or additional amount for the early termination of the agreement.
s 233(3), at the “NOTE” sectionNew item: 9. If there is more than one tenant under the residential tenancy agreement, this notice is taken to be served on all tenants under the agreement if it is served on one of the tenants.
Regulations and section of the form affectedRelevances and changes made
Property and Stock Agents Act 2002 and the Property and Stock Agents Regulation 2022 The relevant parts of the Regulations for the Agency Agreement are Schedule 2 and Schedule 5. Schedule 2, Part 2(20)(2) of the Regulations, on page 2 at Item GNew item: However, the agent must not give the keys of the property to a prospective tenant, even for a short time.
Remitence AdviceFrequency of payments added
Schedule 2, Part 2(20)(3), on page 3 at Clause 3.3 InspectionsNew item: Such circumstances cannot be varied except where written authorisation is given by the owner and (if the property is currently let) the tenant.
Schedule 2, Part 2(24), on page 3 at Clause 3.3 InspectionsNew item: 3.4 An agent must take all reasonable steps to ensure a final inspection of the property, on vacation of the property, is conducted in the presence of the tenant unless otherwise authorised by the tenant. Reasonable steps by the agent include; (a) Contacting the tenant to discuss suitable times for the inspection, and (b) Arranging to meet the tenant at a particular time and place, and (c) Meeting the tenant at the arranged time and place.
Schedule 2, Part 2(21), on page 3 below Clause 4.7New item: 4.8 The agent managing the rental property must promptly respond to a request by a tenant for maintenance of, or repairs to, the property. Subject to the instructions of the principal, the agent must promptly attend to the request. 4.9 If the Principal has instructed that a repair is not to be carried out, the agent must inform the principal if the principal’s failure to carry out the repair constitutes a breach of the tenancy agreement in force in relation to the property.
Schedule 2, Part 2(22), on page 3 below the new clause 4.9New item: 4.10 The agent managing the rental property must immediately give the owner written notice if the agent becomes aware of a tenant’s breach of the tenancy agreement.
Regulations and section of the form affectedRelevances and changes made
Residential Tenancies Act 2010 and the Residential Tenancies Regulation 2019. The relevant parts of the Act in relation to the are section 13 to 22. Schedule 1 of the regulationsNew Item where it requests the landlord’s address : Address (Residential or Business)
Regulations and section of the form affectedRelevances and changes made
Residential Tenancies Act 2010 and the Residential Tenancies Regulation 2019, The relevant parts of the Act in relation to the residential tenancy agreement terms and conditions are ss 13 to 79. The relevant parts of the Regulations are contained in Schedule 1. Additionally, the terms and conditions have included Schedule 2 from the Strata Schemes Management Regulation 2010. Notably, Schedule 1 of the Residential Tenancies Regulation sets out the exact terms and conditions for a Standard Form Residential Tenancy Agreement. Schedule 1 of the regulations, below clause 11.6.2New Note: Separately metered is defined in the Residential Tenancies Act 2010
Schedule 1 of the regulations, below clause 46.2New Note: A swimming pool certificate of compliance is valid for 3 years from its date of issue
At clause 56.1Replaced with “56.1 Premises to which the Strata Schemes Management Act 2015, the Strata Schemes (Leasehold Development) Act 1986, the Community Land Management Act 2021 does not apply, such as flats, the tenant agrees to observe and comply with special conditions that have been adopted where relevant from the Model By Laws contained in the Strata Management Regulation 2016, Schedule 2 and 3 and are set out in Schedule 1 and 2 of this agreement. For the words written therein “owner or occupier” insert instead the words “the tenant”, for “owners ‘corporation”, insert instead “landlord”, for “lot” insert instead “premises or flat”, “the Act” insert instead the words “Strata Schemes Management Act 2015 and for “strata scheme” insert instead “the block”.
Page 9, Schedule 2 Model By-Laws for Residential Strata Schemes (Clause 27)Replaced with the updated terms contained in Schedule 2 of the Strata Management Regulation 2016
Following Schedule 2Inserted a new Schedule using the by-laws of Schedule 3 of the Strata Management Regulation 2016
Regulations and section of the form affectedRelevances and changes made
Residential Tenancies Act 2010 and the Residential Tenancies Regulation 2019 Schedule 2 of the regulations, on page 6 of the report where it states ‘General’, below the item swimming pool’New row in the table. Inserted swimming pool fence/gate in the first column of the new row.
Schedule 2 of the regulations, on page 6 of the report where it states ‘General’, below the item ‘grounds/garden’Inserted garden hose/fittings in the first column of the new row. Also inserted watering system beneath.
Regulations and section of the form affectedRelevances and changes made
Residential Tenancies Act 2010 The relevant parts of the Act in relation to the termination of a residential tenancy agreement are ss 81 to 89, ss 108 and 109, and s 223. s 87(3), at Part B. BREACH OF AGREEMENTNew item inserted: NOTE: The landlord may terminate the tenancy agreement before the end of the fixed term of the residential tenancy agreement if it is a fixed term agreement.
s 85(2A), at Part D. TERMINATION OF PERIODIC AGREEMENT, below the words "notice is given"New item inserted: Provided that in the case of an employee or caretaker residential tenancy agreement, the Landlord hereby requires you (the employee or caretaker) to give vacant possession of the premises either (a) on or after the end of the period of notice for termination in that agreement or arrangement, or (b) not earlier than 28 days after the day which this notice is given.
s 88(2), at Part C NON-PAYMENT OF RENTNew item inserted: Note: This notice is not ineffective merely because of any failure of the landlord or landlord’s agent to make prior formal demand for the payment of rent, water usage charges or utility charges.
s81 to 89It should be noted that a considerable portion of sections 81 to 89 describe the circumstances under which landlords are required to make an application to the Tribunal for a Termination Order and also regulates the manner and timing in which the Tribunal may grant such orders. It is not necessary to incorporate these provisions in a notice of termination.
In accordance with s 223(3), at the "NOTE" section, below the words "… after it was posted"New item inserted: Note: If there is more than one tenant under the residential tenancy agreement, this notice is taken to be served on all tenants under the agreement if it is served on one of the tenants.

Commercial Management Forms Updated

 

Regulations and section of the form affectedRelevances and changes made
Property and Stock Agents Act 2002 and the Property and Stock Agents Regulation 2022The relevant parts of the Regulations for the Agency Agreement are Schedule 2.
Schedule 2 1. At the top of page 1Update references to the Act and the Regulation where applicable. Exact Change: The Property and Stock Agents Act 2002 and the Property and Stock Agents Regulation 2022 require all agreements to be in writing and contain prescribed terms."
Schedule 2, Part 2(19), an agent must prepare and give to the owner of the property an inspection report for the propertyNew item: 7. This rent increase notice may be cancelled or varied (so as to reduce the increase) by a subsequent written notice given to the tenant by or on behalf of the landlord. Any such later notices take effect from the date on which the earlier notice was to take effect.
Schedule 2, Part 2(20) of the Regulations, on page 2 at Item G of the Particulars below the fillable fieldInserted a new statement directly after: "The principal acknowledges that all prospective tenants will be accompanied by the agent when viewing the premises. The principal acknowledges that the agency may from time-to-time release keys to persons, such as but not limited to, tradesman to quote or undertake work on the premises. However, the agent must not give the keys of the property to a prospective tenant, even for a short time."
Schedule 2, Part 2(20)(3), on page 3 at Clause 3.3 Inspections, where it states, "Any prospective tenant is entitled to inspect the premises in the circumstances set out in Item G of the Particulars."Inserted a new statement directly after: Such circumstances cannot be varied except where written authorisation is given by the owner and (if the property is currently let) the tenant.
Schedule 2, Part 2(21), on page 3 below Clause 4.5Inserted new clauses: 4.6 The agent managing the rental property must promptly respond to a request by a tenant for maintenance of, or repairs to, the property. Subject to the instructions of the principal, the agent must promptly attend to the request. 4.7 If the Principal has instructed that a repair is not to be carried out, the agent must inform the principal if the principal’s failure to carry out the repair constitutes a breach of the tenancy agreement in force in relation to the property.
Schedule 2, Part 2(22), on page 3 below the new clause 4.7Inserted new clause: 4.8 The agent managing the rental property must immediately give the owner written notice if the agent becomes aware of a tenant’s breach of the tenancy agreement.
Schedule 2, Part 2(24), on page 3 at Clause 3.3 InspectionsInserted new item: 3.4 An agent must take all reasonable steps to ensure a final inspection of the property, on vacation of the property, is conducted in the presence of the tenant unless otherwise authorised by the tenant. Reasonable steps by the agent include; (a) Contacting the tenant to discuss suitable times for the inspection, and (b) Arranging to meet the tenant at a particular time and place, and (c) Meeting the tenant at the arranged time and place.

Residential Sales Forms Updated

 

Regulations and section of the form affectedRelevances and changes made
Property and Stock Agents Act 2002 and the Property and Stock Agents Regulation 2022. Page 1 of form.Update references to the Act and the Regulation where applicable. Exact Change: The Property and Stock Agents Act 2002 and the Property and Stock Agents Regulations 2022 require all agreements to be in writing and contain prescribed terms.”
Updates to Reserve Price (B)Reference to clause 2.3 in heading and new clause 2.3 added to terms.
Regulations and section of the form affectedRelevances and changes made
Property and Stock Agents Act 2002 and the Property and Stock Agents Regulation 2022The relevant parts of the Regulations for the Agency Agreement are Schedule 2, Schedule 5, and Schedule 7.
Schedule 2. 1.At the top of page 1 "3.Update references to the Act and the Regulation where applicable. Exact Change: The Property and Stock Agents Act 2002 and the Property and Stock Agents Regulation 2022 require all agreements to be in writing and contain prescribed terms."
On page 3, at clause 6.1, where it states, “Clause 54 Property and Stock Agents RegulationReplaced with: Clause 60 Property and Stock Agents Regulation 2022.
Clause 60 Property and Stock Agents Regulation 2022Inserted a new clause: 2.2 The agent acting as a buyer’s agent for a person must keep the person informed of each stage of the negotiation of a purchase price as instructed by the person. This does not apply to bids made during an auction.
Schedule 2(11), on page 3 below clause 2.2,Inserted a new clause: 2.3 The agent acting as a buyer’s agent must use the agent’s best efforts to obtain the best possible purchase price for the buyer.
Schedule 2(12), on page 3 below clause 2.3Inserted new clauses: 2.4 In negotiations for the purchase of a property, an agent acting as a buyer’s agent for a person must not exceed the maximum fixed price by the client without the express written authorisation of the client or a person authorised by the client. 2.5 If the bidding at an auction exceeds the maximum price fixed by the client, the buyer’s agent must not continue bidding without the express written authorisation of the client or a person authorised by the client.
Schedule 2(13), on page 3 below clause 3.6Inserted new clauses: 3.7 Expression of Interest deposits – The agent must not pay an expression of interest deposit on the person’s behalf unless the person has provided the agent with a written statement that is signed by the person and states that they have been given the information set out in clause 3.7.1 and understands this information. 3.7.1 The agent must inform person in writing that the vendor has no obligation to sell the property, the person has no obligation to buy the property, and the deposit is refundable if a contract for the sale of the property is not entered into. 3.7.2 The agent must also promptly inform the person if the agent becomes aware of a subsequent offer to purchase the property on which the expression of interest deposit has been paid.
Schedule 2(14), on page 3 below clause 3.7.2Inserted a new clause: 3.8 Payment for Referral - The agent acting as a buyer’s agent for a person must not demand or accept a fee or other valuable consideration for referring the person to a selling agent.

Commercial Sales Forms Updated

 

Regulations and section of the form affectedRelevances and changes made
Property and Stock Agents Act 2002 and the Property and Stock Agents Regulation 2022. The relevant parts of the Regulations for the Agency Agreement are Schedule 2, Schedule 5, and Schedule 9. Page 1Exact change: The Property and Stock Agents Act 2002 and the Property and Stock Agents Regulations 2022 require all agreements to be in writing and contain prescribed terms.
In accordance with Schedule 9(1) and (2), on Page 2 at Item C Remuneration.New item: IMPORTANT: This is an exclusive agency agreement. This means you may have to pay the agent commission even if another agent (or you) sells the property or introduce a buyer who later buys the property. WARNING: Have you signed an agency agreement for the sale of this property with another agent? If you have you may have to pay 2 commissions (if this agreement or the other agreement you have signed is a sole or exclusive agreement).

New Form

With guidance from our legal partner, we have introduced a new Residential Tenancy Agreement (EAC110ALL) that includes the terms and conditions.

However, we will also continue to provide the Residential Tenancy Agreement (EAC110) and the Residential Tenancy Agreement Continued – Terms and Conditions (EAC110A) as separate forms for agents who prefer to use them independently.

The updated forms will be effective starting Monday, July 10, 2023.

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