SENSIBLE APPROACH TO ROYAL COMMISSION REFORMS TO BENEFIT HOME OWNERS AND MUM-AND-DAD INVESTORS

July 13th,2021

Real Estate Institute of Australia (REIA) has welcomed recent exemptions provided to real estate for both deferred sales models for home and landlord insurance as well as exemptions for property managers and real estate agents in insurance claims handling reforms.

REIA President, Adrian Kelly said both would have impacted on homeowners and property investors and left aspiring home owners unable to secure insurance through to property managers being unable to provide a full suite of services to both investors and tenants

“Both considerations enhance consumer outcomes and recognise that reforms from the Royal Commission were not targeted at home owners and tenants,” he said.

Mr Kelly said the REIA thanks the Federal Government for listening to the industry and not introducing additional regulatory hurdles in Australian’s quest for home ownership.

“Home ownership is becoming increasingly difficult with rising costs associated with buying and maintaining a home that further regulations will add unnecessary burdens to all parties,” he added.