Powered by momentummedia
nestegg logo
Powered by momentummedia
nestegg logo
nestegg logo

Invest

Tenants get more power as major rental laws pass in Victoria

By Reporter · September 13 2018
Reading:
egg
egg
egg

Invest

Tenants get more power as major rental laws pass in Victoria

By Reporter
September 13 2018
Reading:
egg
egg
egg
Rental laws, Victoria, rental market

Tenants get more power as major rental laws pass in Victoria

author image
By Reporter · September 13 2018
Reading:
egg
egg
egg
Rental laws, Victoria, rental market

A law that puts more power in the hands of tenants has passed in Victoria, handing investors more rights and restricting opportunities for rental increases.  

First announced in October 2017, the “Rent Fair” reforms aimed to make renting fairer for tenants, according to the Victorian government.

The main changes for property investors to be aware of include:

Pets

- Landlords cannot unreasonably refuse pets; they also cannot refuse consent for assistance dogs.

Modifications

Advertisement
Advertisement

- Landlords cannot unreasonably refuse minor modifications.

Rent pricing

- Rent increases are allowed once every 12 months, as opposed to every six months; and

- Rental bidding is not allowed.

Rent security

- Removed the 120-day “no specified reason” notice to vacate;

- Only allow for landlords to end tenancies via an “end of fix term” notice to vacate and the end of the fixed term.

Tenant rights

- Introduced a commissioner for residential tenancies and a landlord blacklist to give tenants further protections.

Bonds

- Bonds will be repaid if both tenant and landlord agree within 14 days;

- The bond can be released up to 14 days early before the tenancy is over, up from seven days;

- Bonds for rents less than double the median weekly rent (totalling $760) can only be four weeks rent; and

- Reimbursements for urgent repairs need to be made within seven days, down from 14 days.

Tenants get more power as major rental laws pass in Victoria
Rental laws, Victoria, rental market
nestegg logo

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates
Rate the article

Join the nestegg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

Your email address will be shared with nestegg and subject to our Privacy Policy

LATEST POLL

Are you seeking alternatives to equity and property in the next 12 months?

Yes - 44.4%
No - 55.6%

Total votes: 473
The voting for this poll has ended

From the web

Recommended by Spike Native Network

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.