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Concerns raised on Victoria government’s rental law reforms

tax-and-legal-advice
1 minute read

Concerns raised on Victoria government’s rental law reforms

by Emma Ryan 19 December 2019 1 minute read

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.

Melbourne suburbs
December 19, 2019

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.

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“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”.

Concerns raised on Victoria government’s rental law reforms
Melbourne suburbs
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About the author

Emma Ryan

Emma Ryan

Emma Ryan is the deputy head of content at Momentum Media.

Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.

Email Emma on: [email protected]Read more

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