Concerns have been raised about the Victoria government’s next stage of rental law reforms, in a similar fashion to what’s being seen in the Queensland market.
REIV president Leah Calnan has issued a statement, calling on the Victoria government to be mindful of the low vacancy rates across the state when it goes through the next stage of rental law reform.
“The state government is intent on putting the reforms through, the REIV has had a team looking at the changes and has made a submission that focuses on getting the best result for landlords, tenants and agencies,” Ms Calnan said.
“With record-low vacancy rates across Victoria, it’s already incredibly tough for a person to get a rental home, the REIV is deeply concerned that these rental reforms may force landlords to take their properties off the market, making our statewide rental housing shortage even worse.”
Ms Calan noted that the reforms could facilitate a domino effect whereby it could end up costing the Victorian economy severely.
“The legislation takes control away from property owners; many landlords are nervous about changes to the investment property they worked so hard to purchase. If rental housing stocks are impacted further, this legislation will make it harder for a tenant to get a rental home,” Ms Calan said.
“If rental shortages continue to worsen, we have great concerns that the most vulnerable in our society will suffer, many families who are unable to obtain a rental home will be forced onto the streets, placing more pressure on welfare groups and charities.”
Concerns are also being raised on Queensland’s proposed rental law reforms, with the REIQ going so far as to say they are a slap in the face for investors”.