Family of four moving into house carrying boxes

Fair priced rent

We know that a rent increase every 6 months can put financial strain on renters.

Reforms

Rent increases

The frequency of rent increases can impact on a tenant’s ability to meet the ongoing costs of their accommodation.

Less frequent rent increases will help tenants manage cost of living pressures, which are increasing.

Rent will only be able to be increased every 12 months, instead of every 6 months. Rent increases must also be reasonable. Tenants have the right to appeal to the Victorian Civil & Administrative Tribunal if they believe an increase is excessive compared with the market rent for a similar property.

Cracking down on rental bidding

Rental bidding can lead to reduced transparency for rental applicants and can 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:

  • advertise properties 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)

More information

While the reforms to the Residential Tenancies Act were passed by the Victorian Parliament in September 2018, they have not yet come into force. The reforms will come into effect progressively, and all will have commenced by 1 July 2020.