If you reside in or own one of Victoria’s 500,000 rental properties, then it’s likely you’ll be impacted by any changes to the Residential Tenancies Act.
The State Government is currently undertaking a comprehensive review of Victoria’s residential tenancy laws, which govern the rights and responsibilities of both tenants and landlords in relation to rent, bonds, dispute resolution and security of tenure.
At present, metropolitan Melbourne has a weekly median rent of $400 and a vacancy rate – that is, the amount of available properties that are currently unoccupied – of 3.1 per cent. The Government’s Plan for Fairer, Safer Housing is considering a range of measures to ensure median rents and availability of rental properties remains affordable and appropriate for our growing population. These measures include mandating long-term leases, pets in rental properties, rent reviews and maximum bonds.
The Real Estate Institute of Victoria is carrying out independent surveys of both landlords and tenants. These surveys are currently available below and allow respondents to provide anonymous input on key areas of the review.
Consumer feedback from these surveys will help the REIV formulate responses to future Issues and Options Papers and ensure proposed changes best serve all stakeholders. Individuals can also provide their feedback on the review directly to Consumer Affairs Victoria via the website fairersaferhousing.vic.gov.au. Landlords Survey Tenants Survey. For more information on the Government’s Plan for Fairer, Safer Housing visit the website.
This article is brought to you by Enzo Raimondo, CEO of the Real Estate Institute of Victoria. It was originally published in REIA News April 2016.
Access to tenanted properties a key focus for REIV in Residential Tenancy Review