Change coming to the Residential Tenancies Act in Victoria

By Janet Spencer

Change is coming to the Residential Tenancies Act in Victoria if amendments announced last Sunday are passed into law.

Changes will impact both property owners and tenants. They will also mean change for Property Managers.
Changes include (source REIV) :
– Removal of the Notice to Vacate for ‘No Specified Reason’
– Limiting the use of ‘end of fixed term’ notices to vacate
– Bond capped at one months’ rent for all tenancies less than $760 per week
– Landlords unable to unreasonably refuse consent for pets
– Allowing tenants to make minor property modifications
– Landlord and estate agent blacklist
– Requiring pre-contractual disclosure by landlords regarding asbestos and intention to sell
– A new Commissioner for Residential Tenancies
– Early release of bonds by agreement before the end of a tenancy
– Faster tenant reimbursement for urgent repairs
– Automatic bond repayment within 14 days when a claim hasn’t been lodged
– Ban on rental bidding and rent bidding apps
– Rent increases restricted to once per year
– Prohibiting false, misleading or deceptive representations by landlords or agents prior to a tenancy

Big news is the removal of the Notice to Vacate for no reason. Some landlords argue that they don’t want tenants knowing they are moving into their property for privacy reasons. This option to maintain privacy will no longer be open to them.

Landlords will not be able to unreasonably refuse pets for tenancies if the legislation is changed.  Not good news for some landlords and even some tenants who are also landlords.

In The Media, Investment property, Landlords, Real Estate News & Opinion, Victorian Regulation

Buyer Solutions, cav, Janet Spencer, REIV, residential tenancies act, residential tenancies act review