Family of four moving into house carrying boxes

Fair priced rent

We know a rent increase every 6 months can put strain on the hip pockets of renters.

Reforms

Rent increases

Tenants often struggle to plan for frequent rent increases. The frequency of rent increases can impact on a tenant’s ability to meet the ongoing costs of their accommodation.

We know cost of living pressures are only getting harder. Less frequent rent increases will help tenants manage cost of living pressures.

Rent increases are changing from being able to be increased every 12 months instead of every 6 months. Rent increases must be reasonable. Tenants have the right to appeal to VCAT if they believe an increase is excessive compared with the market rent.

Cracking down on rental bidding

Rental bidding can lead to reduced transparency for rental applicants and increase search costs if properties are advertised at a price lower than a landlord is willing to accept.

Landlords will be expected to put their best foot forward from the outset of the rental process by settling on a realistic fixed price, enabling applicants to broadly rely on the advertised price when looking for their next rental property

All landlords and agents must:

  • be advertised at a fixed price (no ranges or ’price plus’ advertising)
  • not invite prospective tenants to make an offer at a price higher than the fixed price (including via technology platforms)

The reforms require amendments to Residential Tenancies Act 1997. The process to amend the RTA is underway.