February 13th, 2020
Industry experts reveal real estate predictions for 2020
The 29th of March 2021 marks the introduction of a number of rental law changes in Victoria.
The changes take the form of the new Residential Tenancies Regulations Act 2021. According to Consumer Affairs Victoria, the state’s consumer regulator, they are designed to make renting in Victoria fairer and safer, by expanding the rights and responsibilities of both renters and landlords.
The changes are many and varied, and span the entire lifecycle of a rental agreement, from before you sign until after it concludes. To ensure compliance with the reforms, PropertyMe has introduced several small adjustments for their Victorian users.
The Residential Tenancies Regulations Act 2021 represents significant change in many areas of property, and as the experts who facilitate these transactions, the responsibility for implementing these changes will fall largely on the shoulders of property managers and agency principals.
The changes are extensive, stretching across categories like starting a tenancy, living in or leaving a rental, repairs and modifications, long-term leases, and rooming houses.
Some of the more notable amendments include:
Abiding by new legislation is an inherently complex task – one of wading through endless legislation, understanding your responsibilities, and ensuring that you dot every I and cross every T. However, thanks to some tweaks to the platform, Victorian PropertyMe users will have much of this responsibility lifted off their shoulders.
The team at PropertyMe has implemented a number of small adjustments to ensure compliance with these new reforms, mainly to our entry and exit condition report formats. These adjustments have also been made in a way that ensures they have minimal effect on the experience of our users.
Here’s a snapshot of how the rental law changes in Victoria have affected what Victorian users will see and do within PropertyMe.
The first change involves a simple switch in terminology:
This is simply to bring this act in line with others, such as the Residential Tenancies Amendment Act 2018.
Until now the front page of the condition report has featured a block of required text on the right-hand side. This will be removed and replaced with a new block of text that describes the responsibilities of the various parties, as well as the following:
In line with the reforms, a number of questions are being included on our front page, including:
There are also some minor changes to the end of the condition report. The following words will be added above where the renter puts their final signature:
“I have read the rental provider’s/agent’s report and agree except where I have commented in this report.”
The following disclaimer will also be added below the signature:
“Note: Each renter must sign this report. Renters should return one copy to the rental provider and keep the other copy in a safe place.”
Just as the above changes apply to the entry condition report, so too will they apply to the exit condition report.
If you enjoyed this blog post on VIC residential tenancy laws, you might also be interested in:
Let us know your thoughts on Our response to the Victorian rental reforms by emailing [email protected].