Australian agents face jail for heavy-handed rent demands
The corporate watchdog has warned real estate agents they face up to five years jail if they ask tenants to withdraw super in order to pay the rent. In a letter to peak real estate bodies, the Australian Securities and Investments Commission’s head of enforcement, said the regulator was closely monitoring the situation and “will not hesitate to act swiftly to protect vulnerable consumers”. With hundreds of thousands of people suddenly thrown out of work by the shutdown of hospitality, entertainment and retail industries due to the coronavirus crisis, many households are struggling to pay the rent. The federal government has announced a six-month ban on evictions this requires each state to legislate and so far only Tasmania has given the moratorium the force of law.
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