Over the past year the Victorian Government has been undertaking a review of the Residential Tenancies Act 1997, as a part of its platform for housing related initiatives entitled 'Fairer Safer Housing'.
The final RTA Options Paper outlines an extensive range of proposed changes which are extremely concerning to the REIV and may have substantial negative impacts on landlords and the practice of property managers.
What you need to know
The REIV has compiled a summary of key issues with some of the proposed options, which include:
- Setting minimum standards for rental homes that could create a significant financial impact on landlords;
- Potentially removing the “no specified reason” notice from the Act;
- Non-structural property modifications without landlord consent;
- Landlords paying an upfront special 'maintenance bond' for urgent repairs; and
- Creating constraints on open for inspections for properties for lease and for sale - which are likely to make it more difficult to undertake OFI’s.
Have your say - share your views with the Victorian Government
Email the Government (full list of local MPs available here) with your feedback. Refer to our template letter for assistance.