As of 29 March 2021, the Victorian Government put into effect new renting laws. These changes affect the terminology, disclosure requirements, updated forms, rental minimum standards and modifications allowed. With approximately 50% of strata properties currently acting as rentals, it is essential to understand the changes and their impact. The goal is to improve the overall rental experience. This infographic outlines the key updates.
Regarding new disclosure requirements, a rental provider must now disclose additional information to a rental applicant. Examples include details of the network operator and electricity if part of an embedded network, current domestic building work disputes and any owners corporation’s rules that apply to the rented premises.
A property must meet the minimum rental standards before a renter moves in, regardless of the age and character of the property or the amount of rent paid. A condition report is required whether a bond is taken or not.
Renters now have more freedom regarding modifications to the property. They can spend up to $2,500 on urgent repairs and replacements when required on air conditioning, safety devices and faults that make the property unsafe (like pest infestations or mould). The rental provider cannot unreasonably refuse certain other modifications, like installing picture hooks or wall anchoring tools.
The Owners Corporation may choose to prepare a renter’s guide for rental providers. These property rules may be attached to the initial rental agreement and include items like the colour of curtain backings, style of security screens, and the location of personal equipment on common property. This ensures renters are fully aware of the property rules and can make informed decisions about the modifications they wish to pursue.
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