Autumn Rental Wrap
If you’re a rental provider (previously known as a landlord) you will have heard about the multiple, 132 in fact, changes to tenancy legislation in Victoria that were implemented at the end of March 2021.
The legislation changes vary from compulsory locks on doors and windows & heating requirements to disclosing if there has been a homicide at your rental property in the last 5 years!
While majority of the legislations are to ensure that everyone has the opportunity to rent a property that is compliant and meets the minimum standards required, this has seen a lot of rental providers selling up to avoid the headache and possible penalties and in turn creating an even hotter Sales market!
The main take away for our Property Management Team in regards to the new legislation is that of the Gas, Electric and Smoke Alarm safety checks, these checks are required to be carried out by a licensed professional annually (every 2 years for Gas & Electric). This has agencies contracting third party organisations to ensure each rental property is up to code & compliant.
With these legislations rolling out; rental providers need to ensure they’ve been made aware of their obligations by their property manager.
This will really divide the Property Management market from diligent agencies to those agencies doing the bare minimum for their clients. Is your current Property Manager doing enough? Get in Touch with our team to chat about your options!