The significant reforms recently announced by the Andrews Government have caused concern amongst agents and landlords. Below is a quick snapshot of what the proposed changes are and what you can do to voice your opinion.
The 14 proposed changes include:
- Removal of the Notice to Vacate No Specific Reason providing tenants with 120 days’ notice to vacate
- Limiting the use of ‘end of fixed-term’ notice to vacate
- Bond capped at four weeks rent for all tenancies less than $760 per week
- Landlords unable to unreasonably refuse consent for pets
- Allowing tenants to make minor property modifications ie. putting up picture hooks or installing an air conditioner
- Landlords and agents blacklist
- Pre-contractual disclosure by landlords/PMs regarding asbestos and intentions to sell
- A new Commissioner for Residential Tenancies
- Early release of bonds by agreement before the end of tenancy
- Faster tenant reimbursement for urgent repairs (to be 7 days rather than 14 days)
- Automatic bond repayment within 14 days where a claim hasn’t be lodged
- Ban on rental bidding and rent bidding applications
- Rent increases restricted to once per year
- Prohibiting false, misleading or deceptive representation by landlords or agent prior to a tenancy
There has been a suggestion by the Andrews Government that these reforms will benefit landlords.
The REIV (Real Estate Institute of Victoria) believe the greatest issues are:
- Removal of the 120-day notice and limiting of end of fixed-term agreements
- Bond capping
- Loss of right to consent to pets and property modifications
To voice your opinion contact your local MP or the Governments Rent Fair Victoria website:
Whitestar Property will keep you up to date with any changes.