Your Guide to Victoria's Upcoming Rental Reforms: What You Need to Know
Significant changes are on the horizon for the Victorian rental market, designed to create a fairer, safer, and more secure environment for Victorian Renters.
These reforms, outlined below, represent a significant update to the Residential Tenancies Act 1997 (RTA).
We understand that change can sometimes feel overwhelming, but we're here to help you navigate these updates with ease. Here is a summary of the most important reforms and what they mean for you.
Key Changes Summarised
- Repeal of 'No Reason' Notices to Vacate: Once a fixed-term agreement ends, rental providers will no longer be able to end the tenancy without a specified, genuine reason. This change is intended to give renters greater stability in their homes.
- You can be reassured that existing, genuine reasons for a Notice to Vacate - such as the sale of the property, renovation, or a breach of the agreement like failure to pay rent - will still apply.
- Ban on Rental Bidding: Rental providers and agents are now prohibited from accepting unsolicited offers of rent that are higher than the advertised price. Furthermore, they cannot accept rent paid more than one month in advance. This reform aims to stop offers of higher rent from being used to gain an unfair advantage in securing a property.
- Extended Notice Periods: The required notice period for both a rent increase and a Notice to Vacate will be extended from 60 days to 90 days, providing Renters with more time to plan and prepare for any adjustments to budgets or to make arrangements to move should they need to do so.
- Enhanced Rent Review Framework: The Director of Consumer Affairs Victoria (DCAV) and the Victorian Civil and Administrative Tribunal (VCAT) must now consider additional factors during a rent review to ensure increases are fair and justified. These factors may include the size or proportion of the rent increase from the existing rent and any improvements made to the property since the last increase.
- Minimum Standards for Advertising: Rental providers must ensure the property complies with all minimum standards before the time of advertisement. This ensures that all rental properties are safe and fit for occupation from the moment a rental agreement begins.
- Smoke Alarm Safety Extended: Safety requirements for smoke alarms will be extended to all rental properties, regardless of when the rental agreement commenced. Rental providers and their agents must ensure smoke alarm safety checks are undertaken for every rental agreement.
Your Barry Plant Property Manager is Here to Support You
Your peace of mind is our priority. While these reforms introduce new obligations and processes for rental providers and agents, please be reassured that your Barry Plant property manager is here to support you every step of the way.
Our team is actively undergoing training and updates to ensure full compliance with the new legislation and to manage your property seamlessly. We are committed to making this transition smooth and will be implementing the necessary changes to meet these new requirements.
If you have any questions about how these changes affect your current or future rental agreements, please do not hesitate to reach out to your dedicated Barry Plant property manager.