70FWhat are the required rental terms?

70F What are the required rental terms? S. 70F(1) amended by No. 24/2025 s. 24(1). (1) For the purposes of section 70B(1)(e), a dwelling in a BTR development must be rented or genuinely offered for rent under a residential rental agreement for a fixed term of not less than 3 years. S. 70F(2) amended by No. 24/2025 s. 24(2). (2) Despite subsection (1), a renter may request to enter into a residential rental agreement in respect of a dwelling in a BTR development for a fixed term of at least the prescribed period or, if no period is prescribed, any period, as agreed between the owner of the dwelling and the renter. S. 70F(2A) inserted by No. 24/2025 s. 24(2A). (2A) The period (if any) prescribed for the purposes of subsection (2) must not exceed 12 months. S. 70F(3) amended by No. 24/2025 s. 24(3). (3) A residential rental agreement referred to in subsection (1) or (2) must not be subject to any restrictions except for those required to— (a) ensure public health and safety; or (b) provide social or affordable housing. S. 70F(4) inserted by No. 24/2025 s. 24(4). (4) If a renter continues in occupation of a dwelling in a BTR development after the end of a residential rental agreement referred to in subsection (1) or (2), the dwelling continues to be rented in accordance with this section for the period in which the renter continues in occupation of the dwelling. S. 70F(5) inserted by No. 24/2025 s. 24(4). (5) For the purposes of subsection (2), the owner of a dwelling referred to in that subsection must ensure that a declaration is made in respect of the renter's request. S. 70F(6) inserted by No. 24/2025 s. 24(4). (6) A declaration under subsection (5) must be— (a) in the form determined by the Commissioner; and (b) signed by the owner of the dwelling and the renter. S. 70F(7) inserted by No. 24/2025 s. 24(4). (7) The Commissioner may request the owner of a dwelling referred to in subsection (2) to provide the Commissioner with a copy of a declaration made under subsection (5). S. 70F(8) inserted by No. 24/2025 s. 24(4). (8) The owner of a dwelling referred to in subsection (2) must comply with a request under subsection (7). S. 70F(9) inserted by No. 24/2025 s. 24(4). (9) If the owner of a dwelling referred to in subsection (2) does not comply with a request under subsection (7), the dwelling does not satisfy the requirement in section 70B(1)(e) for the period to which the residential rental agreement referred to in subsection (2) relates. S. 70F(10) inserted by No. 24/2025 s. 24(4). (10) Despite subsection (9), the Commissioner may determine that the dwelling does satisfy the requirement in section 70B(1)(e) for the period to which the residential rental agreement relates if the Commissioner considers that it is appropriate in the circumstances to disregard the owner's failure to comply with the request under subsection (7). S. 70G inserted by No. 52/2021 s. 59.