New Rental Reforms

The Housing Statement bill has passed, introducing new regulations that will affect rental providers.

From November there will be new rules for rent increases, notices to vacate and rental compliance.

In addition, there are more rules for Property Managers; mandatory licensing and training for all real estate professionals with the aim to lift industry standards and ensure rental providers receive expert property management.

Repeal of “no reason” notice to vacate

The repeal of "no reason" notices to vacate will prevent Residential Rental Providers from evicting renters without a reason after the initial fixed-term rental agreement. However, Residential Rental Providers will still be able to evict renters for valid reasons as outlined in the Residential Tenancies Act 1997 (RTA), such as when a renter causes significant damage to the property or fails to pay rent.

Ban of all rental bidding

Residential Rental Providers and their agents will no longer be allowed to accept unsolicited offers for rent higher than the advertised price or accept rent payments more than one month in advance. These changes aim to create a fairer environment for prospective renters.

Extend notice period for rent increases and notices to vacate

The notice periods for vacating a rental property and for rent increases will be extended from 60 days to 90 days for residential rental agreements. We are currently reviewing and updating our practices to ensure a smooth transition and full compliance with the new regulations. This includes making sure that any notices that are required to be issued align with the terms of the current lease and adhere to the updated notice periods.

Minimum Standards

Residential Rental Providers will be required to make sure that the property meets minimum standards before it is advertised or offered for rent. This change aims to ensure that rental properties are safe and suitable for living at the start of a rental agreement. It will also help prevent renters from moving into properties that don’t meet the minimum standards, avoiding the need to go through the urgent repair process at VCAT after moving in.

With the new laws being slowly implemented, our team is expertly positioned to manage these changes and ensure you are aware of them now in order to maintain compliance.

To discuss your property and how we can assist, reach out to our team and have confidence you have the right experts working for you.

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