{"id":24448,"date":"2020-04-03T16:16:54","date_gmt":"2020-04-03T03:16:54","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=24448"},"modified":"2020-04-03T16:17:03","modified_gmt":"2020-04-03T03:17:03","slug":"australian-real-estate-agents-face-fines-and-jail-if-tenants-told-to-use-super-to-pay-rent","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/australian-real-estate-agents-face-fines-and-jail-if-tenants-told-to-use-super-to-pay-rent\/","title":{"rendered":"Australian real estate agents face fines and jail if tenants told to use super to pay rent"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>PHOTO: Many households in Australia are struggling to pay the rent after thousands of people were suddenly thrown out of work by the shutdown of hospitality, entertainment and retail industries due to the coronavirus crisis. Photograph: Jenny Evans\/Getty Images<\/strong><\/p>\n\n\n\n<p class=\"has-drop-cap wp-block-paragraph\"><strong>Warning from corporate regulator comes as tenants complain of heavy-handed demands from landlords during the coronavirus crisis<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The corporate watchdog has warned real estate agents they face up to five years jail if they&nbsp;<a href=\"https:\/\/www.theguardian.com\/australia-news\/2020\/apr\/02\/real-estate-agents-criticised-for-suggesting-tenants-consider-using-superannuation-to-pay-rent\">ask tenants to withdraw super in order to pay the rent<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In a letter to peak real estate bodies, the Australian Securities and Investments Commission\u2019s head of enforcement, Tim Mullaly, said the regulator was closely monitoring the situation and \u201cwill not hesitate to act swiftly to protect vulnerable consumers\u201d.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cFinancial advice must only be provided by qualified and licensed financial advisers, or financial counsellors, not by real estate agents who neither hold the requisite licence, nor are an authorised representative of an Australian financial services licensee,\u201d Mullaly said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The move comes as tenants complain of heavy-handed demands from landlords for rent payments and ahead of a meeting of national cabinet on Friday that is expected to consider the issue.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">READ MORE VIA <a href=\"https:\/\/www.theguardian.com\/australia-news\/2020\/apr\/03\/australian-real-estate-agents-face-fines-and-jail-if-tenants-told-to-use-super-to-pay-rent\" target=\"_blank\" rel=\"noreferrer noopener\">THE GUARDIAN<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Many households in Australia are struggling to pay the<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/australian-real-estate-agents-face-fines-and-jail-if-tenants-told-to-use-super-to-pay-rent\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":24449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478109139,478108952,478098579,478109215,478109214,478109213,478099149,478099720,478098880],"class_list":["entry","author-data123nz","post-24448","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australian-real-estate-agents","tag-covid-19","tag-property-market","tag-real-estate-bodies","tag-rens","tag-rent-payments","tag-rentals","tag-superannuation","tag-tenants"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ 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