INVESTOR’S CORNER

Big Changes to Tenancy Laws- Property Management Bayswater

Many are calling the tenancy law changes the biggest change in Victoria’s rental history. The law changes July 1, 2020, so you need to get ready. Surreal Property Management Bayswater has all the information you need.

 

The shift is largely in favour of tenants, which means it is crucial for landlords to understand what the  New Key Tenancy Laws changes are and what they mean for managing your properties. Key changes include:

• Properties must meet basic standards—functioning stoves, heating and deadlocks, safety standards for gas, electricity and smoke alarms.
• Rental bidding banned, owners cannot take a higher price than advertised.
• Landlords may only increase rent every 12 months.
• Bond capped at four weeks’ rent.
• Landlords may no longer unreasonably refuse consent to minor modifications but may require a qualified person to install. Includes nailing hooks to walls and anchoring furniture for safety.
• You will need an official order from VCAT to refuse a tenant the right to own a pet.
• Tenants will no longer need written consent from their landlord to file for the release of their bond. The landlord will have 14 days to dispute the claim, or bond will be repaid to the tenant automatically.
• Victims of family violence can terminate rental agreements to ensure they aren’t held liable for the debts of their abusers.

Understandably, you may have questions as to how all these changes will operate in reality. Our expert Property Management Bayswater are well-versed in the new laws and will help you understand it all. You’re most welcome to call one of our expert property managers today for advice. We love serving the local community for all their property management needs.

       

Linda Mitrevski 9729 5288. 

Property Management is my business, please call me for a confidential chat. 

 

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