Last week, the Victorian Government released the details of the Residential Tenancies Regulations 2021, which will come into effect on Monday, March 29th this year. These regulations will cover topics such as
- what rental minimum standards will look like, and
- modifications renters can make to rental properties.
Whilst many of the minimum standards for rental housing were already met or exceeded by most landlords, they are now clearly spelled out in law. However, the changes start with new terminology, so from the end of March tenants will be referred to as renters whilst landlords will be called rental providers.
One change that has attracted some attention, for example, is that renters will no longer have to ask for permission before attaching child safety devices such as cord anchors or safety gates. Nor will they have to ask before installing picture hooks or energy saving devices like LED globes.
Whilst the new legislation is comprehensive, (the document is over 200 pages in case you feel like reading through it), the good news is that our Property Management team at Barry Plant Gladstone Park have already been trained in dealing with the new regulations and are ready to use this knowledge to ensure a smooth transition for renters and rental providers alike.
Overall, the clear message for owners of rental properties is that whilst some changes are inevitable, our experienced team is ready and able to help you make the necessary adjustments and to ensure that your investment continues to perform to its maximum potential.
So if you have any questions or concerns in this area, or you would simply like some advice on the current rental market in general, don’t hesitate to give our award-winning Property Management team a call at any time on 9330 1088, or our Property Management Director, Grace Pugliese, on 0413 139 752.