Login
iscover
Four Victorian real estate agencies have landed in hot water after failing to advertise a fixed rental price for properties.
Multiple real estate agencies have pleaded guilty to breaking Victoria’s rental laws after failing to advertise a fixed rental price for properties listed on realestate.com.au and domain.com.au.
The businesses include Barry Plant Werribee, Ray White Point Cook, White Lotus Property Group Truganina, and YouSales Real Estate Group Docklands.
All agencies contested infringements issued to them by Consumer Affairs Victoria (CAV), and were taken to court as a result.
Barry Plant Werribee, Ray White Point Cook, and YouSales were issued fines, while White Lotus Property Group received a 12-month court order prohibiting further offending.
CAV warned that failing to to use a fixed price can promote illegal rental bidding, which means renters compete to offer higher amounts to secure a property.
The practice has been outlawed in Victoria since 2021, as part of a raft of new rental reforms at the time.
Since the establishment of the CAV’s renting taskforce, more than 50 agencies have been fined for failing to advertise fixed rental prices.
CAV director Nicole Rich warned that the regulator will crack down on agencies in breach of the law.
“Our renting taskforce is committed to holding agents accountable if they break Victoria’s rental laws,” she said.
“We’ll continue to pursue those who fail to meet those standards, including taking them to court where necessary.”
Rich also reminded real estate agents that they have legal obligations to understand, and property sales and renting laws to abide by.
“This includes using their management systems correctly and ensuring staff are properly trained,” she said.
“Price transparency is vital. Renters have the right to know how much they can expect to pay for a rental property.”
As another measure to prevent the possibility of rent bidding, CAV is also working with property listing websites to change their pricing parameters, ensuring properties can only be advertised with a fixed price.
In addition to the four other agencies, a fifth case involving PRD Mildura will be heard at Mildura Magistrates’ Court on 19 August.
You might also like - [Taskforce cracks down on auction underquoting in Melbourne’s north]
You are not authorised to post comments.
Comments will undergo moderation before they get published.