The Housing Statement Reform Bill has been passed in the Victorian Parliament, with the new laws to come into effect in November.
Additional reforms to the bill, which has a heavy focus on protecting the rights of Victoria’s renters, were announced last October. These will be introduced in the form of a new bill towards the end of the year.
The Bill is set to significantly impact Victoria’s rental market. Of particular concern to the Real Estate Institute of Victoria (REIV) is the lack of balance in accommodating the interests of both renters and rental providers, and the impact of this on Victoria’s housing supply problems.
Kelly Ryan, REIV CEO, said “We’re pleased with a number of the introduced reforms, like mandated yearly smoke alarm checks and the requirement for properties to adhere to rental minimum standards at the point they are advertised, rather than on contract signing.
The REIV also supports the introduction of increased training, licensing and registration requirements for real estate industry professionals. But rather than continually increasing the regulatory burden for rental providers at a time when high compliance costs are already forcing many out of the market, the Victorian Government should focus on supporting them to ensure adequate supply of rental property.”
You can read more about the Housing Statement Reform Bill in a statement released by the Premier’s Office here.
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By Wendy Chamberlain
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With a passion for all things real estate spanning over 20 years, Wendy loves that her role as a Buyers Agent or Sellers Advocate gives her buying and selling clients an experienced voice they can trust when it comes to negotiating to buy or sell something as important as their home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.chamberlainadvocates.com.au for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.