Long-term leasing

Making long-term leasing a real option for Victorians

Many Victorians want the certainty of a longer term lease. And despite short leases being the norm in Victoria, more than one in five renters have been in their home for longer than five years.

To give renters greater security, we will make available a new optional long-term lease agreement for landlords and tenants wishing to enter into arrangements of more than five years.

Additionally, we will expand the scope of the Residential Tenancies Act to give people who enter into longer leases the same protections as those with shorter leases.

An online matching service will also be established. This will connect landlords and tenants interested in a long-term lease through a dedicated website.

Funding will also enable testing of the feasibility of an intermediary service to manage long-term lease arrangements.

The Government will allocate $1.2 million over four years for these measures to facilitate long-term leases and give renters greater security.

These initiatives aim to increase the supply of stable housing for tenants, with the additional benefit of a more secure income stream for landlords.

The new long-term lease agreement will include terms that are tailored to a longer term agreement, which may include:

  • allowing tenants to install fixtures (minor non-structural alterations)
  • revised notice periods for entry of rented premises and inspections
  • different notice periods for termination at the end of a long-term tenancy

More information

Consultation with stakeholders is under way, and longer lease agreements will be available in early 2018.