New Laws that affects Rental Properties
We are focusing on the new laws that came into effect recently that affects rental homes in Victoria. If you currently have a rental property or planning on getting your first investment property, we hope below information will benefit you
There are new laws passed that affect rental properties in Victoria. These changes are classified as the biggest change to the Residential Tenancies Act since it was implemented more than two decades ago. Below list some of the core changes that affect rental properties
Did you know that more than 1 in 4 Victorian’s rent their homes?
Rental homes require to meet basic standards with functioning stoves, heating and deadlocks and landlords are required to meet basic safety standards for gas, electricity and smoke alarms. Renters will be given the right to make minor modifications such as nailing a hook on the wall or installing anchors to stop furniture falling on children without first obtaining the landlords consent
Pets: Residential rental providers are only able to refuse the right of a tenant to have a pet by order of the Victorian Civil and Administrative Tribunal
Rights of entry and photography when a rental property is being sold will be clarified. Rules on dealing with goods left by a renter at the end of tenancy have also changed
Bond Release: Tenants will be able to apply for the release of bond without written consent from their landlord, who will have 14 days to raise a dispute before it is repaid automatically
Terminating Rental Agreements: Tenants will be able to terminate rental agreements in situations of family violence. According to the new laws, victims are not held liable for the debts of their abusers, implementing the Royal Commission into Family Violence’s recommendation to better protect and support victims of family violence living in rental housing
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Source: premier.vic.gov.au, puzzles.ca, krazydad.com