NEW LAWS REGARDING THE SALE AND RENT OF PROPERTIES CONTAINING LOOSE FILL ASBESTOS

Loose fill asbestos was widely used as ceiling insulation throughout the 60s and 70s. We are now aware of the serious health implications loose fill asbestos has following investigations and high profile media cases surrounding asbestos insulation.

There are now much clearer guidelines for Agents to abide by when involved in the sale or lease of a property containing Loose Fill Asbestos Insulation.

New Rules and Regulations Regarding Loose Fill Asbestos

Under the Home Building Act 1989 the NSW Government is required to maintain a register of residential properties that contain loose-fill asbestos insulation. (NSW Department of Fair Trading) The benefit of this register is so that emergency services, tradespeople, Councils and the broader community to check whether a particular property is affected.

The new laws in effect require mandatory hazard labelling, or tagging, of these properties that appear on the Register. This can be handy throughout a sale or lease process, or for homeowners looking to renovate.

In addition, changes have also been made to the Environmental Planning and Assessment Regulation 2000 that those properties on the Register must also declare so on a Section 149(2) Certificate.

The Sale of a Property containing Loose Fill Asbestos

Amendments have also been made to the Conveyancing (Sale of Land) Regulation 2017 to warn purchasers of the presence of loose fill asbestos in the Contract of Sale documents. It advises potential purchasers of the presence of LFAI, encourages them to search the LFAI Register and to contact their local Council for any LFAI records on the property. 

Your Rights as a Home Owner

If your home was found to contain LFAI, NSW homeowners can contact the NSW Department of Fair Trading to enquire about case-by-case assistance. You may also have the option to participate in the Voluntary Purchase and Demolition Program whereby options are given regarding the sale of the affected property back to the NSW Government or the demolition of the affected property and remediation of the land.

The Rent of a Property containing Loose Fill Asbestos

Amendments have also been made to Clause 7 of the Residential Tenancies Regulation 2010 to advise tenants of the presence of FLAI in their rented property and an amendment made to the New Tenant Checklist.

Your Rights as a Tenant

It is regulation that landlords must advise tenants in writing within 14 days if their property has been added to the register. If the presence of LFAI is not an issue to you as a tenant you can continue on with your lease. If you are outside your fixed term of your rental agreement, you are legally able to give 21 days notice and vacate the property.

If you are a landlord or tenant and are concerned about Loose Fill Asbestos on your property, visit the Department of Fair Trading FAQs for further information.