INDUSTRY NEWSNEWSNSW

Flood toolkit to help NSW real estate industry

The Real Estate Institute of NSW (REINSW) has updated its Disaster and Flood Relief Toolkit to help agencies and property managers better support their landlords and tenants, as well as take care of themselves.

In some parts of NSW, such as Forbes, the water has largely receded but residents are waiting to hear if it is safe to return to their homes to assess the full extent of the damage.

In Condobolin, the water peaked at 7.59m on Sunday but is still yet to fully recede, while Deniliquin residents have been told they will have to evacuate by tomorrow.

The REINSW toolkit covers a range of vital information – from what financial assistance is available, what to do when a property is wholly or partially uninhabitable, and how to negotiate rent reductions when a property is damaged but still able to be lived in.

Other topics include business support, housing and rental assistance, emergency accommodation, recovery centres, mental health assistance and help for those with animals.

REINSW Chief Executive Officer Tim McKibbin said the institute had developed the toolkit to help agents assist their customers and communities.

“Again, many areas in the state are reeling from flood devastation,” he said.

“Housing is an essential commodity and recent natural disasters are having a major impact on the state’s housing market. 

“Owner-occupiers and tenants in affected areas have a very difficult time ahead. 

“So too do property managers. Property management is extremely stressful work and the recent experience of property managers, through COVID, fires and floods, has resulted in a dramatic exodus of people from the industry.

“The REINSW has developed a Flood Relief Toolkit to help agents help their customers and communities. 

“It provides up-to-date information with contacts for support organisations as well as the financial support grants and payments available to people impacted.”

The toolkit also includes a frequently asked questions section, providing much needed advice on questions including who is responsible for mould after a flood, whether a purchaser can rescind a contract after a flood and prior to settlement, and whether you’re entitled to compensation if your office has been damaged in a flood or your income has been affected. 

You can download the toolkit here.

The REINSW Helpline is also open to all agents, whether they are institute members or not, on (02) 9264 2343 or email helpline@reinsw.com.au.

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Kylie Dulhunty

Kylie Dulhunty is the Deputy Editor at Elite Agent.

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