For those that may have missed it, the Consumer and Planning Legislation Amendment (Housing Statement Reform) Bill 2024, (yes, it’s a mouth full isn’t it), was passed this week. Among a range of new initiatives, the new laws mention:

• The time frame required for a notice to vacate a rental property, or for a rent increase, will be extended from 60 days to 90 days.
• The criteria used when Consumer Affairs Victoria (CAV) or the Victorian Civil and Administrative Tribunal (VCAT), are undertaking a review of a rent increase has been tightened.
• A property cannot be advertised for lease unless it meets minimum rental standards.
• Rental application fees and payment fees are banned, as is the practice of rental bidding above the advertised rent.
• An eviction notice will now require a specified reason, eliminating ‘no cause’ eviction notices.
• A streamlining of the dispute resolution process at VCAT, designed to manage frivolous claims, reduce hearing times and offer alternative resolutions for simple tenancy disputes.
• The education and registration requirements for Property Managers has been extended to Owners Corporation Managers.

Of course, legislative changes like this tend to be a ‘double-edged sword’. On one hand, any move to support renters and to make their rental experience easier is welcome. However, on the other hand, moves that place additional hurdles in front of rental providers can only end up reducing the availability of rental properties, thereby increasing rents.

So we will have to wait and see what happens to median rents in a tight rental market in the future.

Don’t forget, if you have any questions about these new rules, or the rental market in Melbourne’s northern corridor in general, you can always give our experienced team at Barry Plant Thomastown a call this week on 9466 3233.

We’re look forward to being of assistance.

Cheers,

Con Constantinou
Barry Plant Thomastown