“The Labor Government has implemented more than 130 rental reforms to restore fairness and respect for renters everywhere – this makes it six more. Victoria is leading the nation.”
– Premier of Victoria Hon Jacinta Allan MP
Leading the nation? To where, homelessness?
That recent statement from the Premier’s Office formed part of the announcement introducing six more legislative changes to the rental market, in addition to 130 already included in the Victorian Government’s Housing Statement.
But of the six new measures announced, the REIV point out that none support rental providers or agents. They come at a time when rental providers have already been hit hard by legislative change and have been leaving the property investment market in droves.
These latest regulations provide further benefits to tenants with respect to bond claims, eviction processes, various fees, costs of breaking leases and the provision of access keys. So it’s not all high-stakes stuff, but is it yet another straw placed on the struggling camel’s back?
According to the REIV, a good rental ecosystem depends on both rental providers and renters receiving mutual benefit. And benefits to rental providers are becoming thin on the ground, as is the dwindling supply of rental properties in Victoria.
At this point in time incentives to boost investor confidence and keep rental providers in the market are what Victoria desperately needs, not more regulations that will do little good for tenants when they can’t find a home to rent.
Kelly Ryan, REIV CEO, says the REIV remain committed to seeking initiatives that attract investors and increase the supply of rental properties in Victoria. It’s a shame the government doesn’t appear to be paying heed to their suggestions.
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