Fairer housing not so fair for landlords

By Janet Spencer

The state government in Victoria has announced planned reforms to the Residential tenancies act, fairer housing not so fair for landlords.

In October 2017 the government announced sweeping reforms to the Residential Tenancies Act in an effort to make the rental market more affordable and more fair. The reforms are substantial and landlords across the country are not happy, questioning whether the ‘fairer, safer housing initiative’ is either fair or safe.

The announced reforms include the following:

• Removal of the 120 day 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; and
• Prohibiting false, misleading or deceptive representations by landlords or agents prior to a tenancy.

According to the 2016 census data, approximately 30.9% of the Australian population rents their homes at a median weekly rental cost of $335 (across the country), so safe and fair rental laws are crucial, but the cost to the home owners must also be considered and with the new legislation it is the landlord that is losing.

The Real Estate Institute of Victoria has been proactively fighting back against the proposed legislation and you can read about REIV CEO Gil King’s stance on the issue here.

If you’re a landlord and you are concerned with the new laws which are to be implemented in the new year, please voice your opinion to the government.

There are three ways in which you can speak out:

1. At Vic.gov.au – https://www.vic.gov.au/rentfair/tell-us-what-you-think.html
2. Sign this petition – https://docs.google.com/forms/d/e/1FAIpQLScglGiK9MRM1J5M1I9pZesnPi3VoOSP-tBbqYQ385pjbk6lvQ/viewform
3. Email the Government (full list of local MPs available here) with your feedback.

Buyers Advocate, In The Media, Investment, Investment property, Landlords, REIV

fair housing, legislation, petition, rental laws