Australian real estate agents face fines and jail if tenants told to use super to pay rent

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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, Tim Mullaly, said the regulator was closely monitoring the situation and “will not hesitate to act swiftly to protect vulnerable consumers”.

Read more: 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

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