Tenancy management news: Changes to Victorian tenancy laws

New tenancy management laws will take effect in Victoria staring 29 March 2021. The Residential Tenancies Regulations 2021 follows on from the proposed Residential Tenancies Amendment Act 2018 that has been delayed due to coronavirus (COVID-19). The reforms respond to extensive community feedback during the Victorian Government’s Fairer Safer Housing consultation to review the Residential Tenancies Act 1997.

Here’s a quick overview of what property managers and landlords can expect with these new regulations and how utilising a tenancy management software can help you with compliance.

Tenancy management changes under the Residential Tenancies Regulations 2021

The 132 reforms include a small number of provisions that have been replicated from the Tenancies Amendments Act 2018 to address issues arising from COVID-19 such as provisions relating to family violence and rental agreements.

The new laws also include a provision for rental providers and tenants/renters who have existing rental agreements signed before 1 July 2020 to be exempted from some of the new tenancy laws until the agreement is terminated and a new agreement is signed.

What these changes mean for landlords and property managers

With these amendments, expect substantial changes to property and tenancy management processes, documents and systems. Property managers and investors who self-manage their properties should start educating themselves on these new set of tenancy laws to remain compliant.

For more information on these upcoming changes, please read the document on Residential Tenancies Regulations 2021.

Compliance with your tenancy management software

It is important that you leverage your property management software to make compliance with these amendments part of your processes. Property Tree comes with a compliance register feature that will help you easily record, track, and report on compliance regulations for your properties.

Book a free demo to see how Property Tree can help you make light work of compliance and other property management tasks.