Housing affordability is a key focus at all levels of government. With one in four Victorians currently renting and pressure on the rental market likely to increase as property prices rise, the Victorian Government is reviewing the rules surrounding the rights and responsibilities of renters and landlords.
The Andrews Labor Government has announced significant reforms to the Residential Tenancies Act, which it says are designed to give renters greater powers and information.
The Real Estate Institute of Victoria (REIV) has been vocal in its objections to many of the reforms, suggesting they lack balance and could have negative effects, including reducing landlord’s security over their investment and driving rental prices up.
“We would stress to all our landlords and tenants that these reforms are still proposed changes,” says Director of Leasing at Waller Realty, Narelle Waller.
“Obviously there is a significant drive for reform but it’s about finding the right balance between the needs of both landlords and tenants,” she says.
“We are monitoring the situation and we’re in touch with the REIV. We’re also available to speak with landlords, tenants and anyone considering an investment property in the area if they have questions.”
A full list of the proposed reforms can be found at www.vic.gov.au/rentfair
If you are a landlord or a renter there’s an option on the site for you to provide feedback on your experience and what you think the impact of the proposed changes might be on you and your family.
The Waller Realty team is dedicated to providing landlords and tenants with the best advice and care.
“At the moment it’s business as usual,” says Narelle. “The REIV will be working with the opposition and cross benchers going forward and we will make sure we keep our landlords and tenants up to date on the situation as it develops.”