The Victorian Government has passed the Residential Tenancies Amendment Act 2018 which includes more than 130 reforms.
This means, from March 29 2021, Property Owners will be required by law to ensure their properties are compliant or they risk harsh financial penalties, being named on a public blacklist register and endangering their insurance policies.
Smart Property Owners are looking at these changes as an opportunity to secure renters for longer and at a better rate.
Property Compliance Victoria is ready to help proactive Property Owners to start understanding what the new reforms are, and what they mean for your properties.
It is our commitment to support forward-thinking Property Owners stay ahead of the new legislation so they can continue to reap the rewards from their investment properties.
We provide up-to-date information for your Property Managers so they are at the forefront of the new legislation before it comes in, as well as ensuring they are aware of any future changes to the legislation and how it might impact your property.
We are already helping Property Owners to understand how and where they need to make changes to their properties so they are compliant with the requirements as the regulations set in. We will fully support you to ensure you meet all minimum standards, and safety requirements, thus avoiding your exposure to fines, blacklisting, insurance defaults and unnecessary expense due to last minute URGENT work in order to meet the minimum standards.
Nobody likes additional costs, so we have devised a unique process which provides the opportunity to offset the cost of your audit
Our Minimum Standard certification process gives you the confidence and evidence required indicating your property meets the new legal requirements set by the Victorian Government.
As the property market continues to disadvantage first home buyers, the rental market will remain competitive. Your ability to maintain the minimum living standards as set by the legislation means you may be able to increase your rate, as well as stabilise your investment with longer term tenants.