Low vacancy rates in Victoria and rental law reform could make it harder for tenants to find a home.
The REIV has called on the state government to be mindful of the low vacancy rate in the state when it processes through the next stage of rental law reform.
The real estate body has analysed the proposed Residential Tenancies Regulations in great detail.
“The REIV has had a team looking at the changes and has made a submission that focuses on getting the best result for landlords, tenants and agencies,” REIV president Leah Calnan said.
“With record-low vacancy rates across Victoria, it’s already incredibly tough for a person to get a rental home. The REIV is deeply concerned that these rental reforms may force landlords to take their properties off the market, making our statewide rental housing shortage even worse.”
Like other rental reform legislation, the REIV pointed out this legislation erodes the control property owners have, which has made many landlords nervous about changes to their investment property.
“If rental housing stocks are impacted further, this legislation will make it harder for a tenant to get a rental home,” Ms Calnan said.
“If rental shortages continue to worsen, we have great concerns that the most vulnerable in our society will suffer, many families who are unable to obtain a rental home will be forced onto the streets, placing more pressure on welfare groups and charities.”
The state government has more than 130 reforms to rental laws on the cards, and they will be implemented by 1 July 2020.