The Real Estate Institute of Victoria (REIV) has called on the Victorian Government to consider urgent and balanced legislative amendments to the Residential Tenancies Act (RTA), aimed at restoring equity, stability, and investment viability in Victoria’s rental market.
This comes following a prolonged period of extensive, largely renter-favourable reform to the RTA, with limited consideration given to the impact on rental providers and their critical role in providing much-needed rental stock.
Central to the REIV’s position is improving investment safeguards for rental providers in relation to issues such as disruptive or misleading behaviour and persistent financial default, while still maintaining core protections for renters.
In its Striking a Balance submission to the Victorian Government, the REIV recommends the following evidence-based amendments to the RTA:
strengthening rental provider rights in response to renters engaging in illegal activity or misleading behaviour;
tightening legislative provisions that enable repeated non-payment of rent and other tenancy obligation breaches; and
aligning renter intention-to-vacate notice periods with those applying to providers.
Jacob Caine, REIV Interim CEO noted the submission highlights the importance of a better-balanced legislative regime in addressing the state’s persistent rental market issues.
“While the REIV has been public in its support of protecting fundamental renter rights, our recommendations seek to address a growing imbalance in critical day-to-day legislative settings that negatively impact rental providers,” Mr Caine said.
“This includes ensuring that private rental providers have equivalent rights to public housing providers in circumstances where renters are engaging in illegal activity in their rental property or providing misleading information on their rental applications.”
The REIV will continue to engage constructively with the Victorian Government in advocating, on behalf of the organisation’s members, for property sector settings that meet the needs of both investors and the growing number of Victorian renters seeking stable and affordable housing.
Media Contact: media@reiv.com.au 03 9205 6607 www.reiv.com.au