While the vast majority of tenants do the right thing the Real Estate Institute of Victoria is seeing increasing evidence that some tenants are rorting the system put in place to protect them. The first six months of the moratorium against evictions and rent increases has seen the vast majority of reduced rent agreements reached…
The Real Estate Institute of Victoria has slammed the Andrews’ Government’s decision to effectively keep the property market shut down for an uncertain period. The continuation of the ban on inspections means that people who desperately need to buy or lease a property will have to make that decision ‘sight unseen’. Before the introduction of…
The process for dealing with residential tenancy disputes in Melbourne is cracking under the weight of Covid-19. With less than one month to go in the original 6-month moratorium announced by the Andrews’ government there is a backlog of 4,000 rental cases at the Victorian Civil and Administrative Tribunal (VCAT) and nearly a thousand…
Melbourne’s empty rentals soar by 20 percent in one month! Residential rents could fall 30%! The number of vacant rentals in Melbourne has skyrocketed. These are all headlines I read in the last couple of days and I can understand why they would scare the pants off many property investors. But before you get too…
The Real Estate Institute of Victoria is seeing growing evidence that commercial and residential landlords are being left behind and all but forgotten as the government makes decisions on financial support for people impacted by the economic downturn. The decision to extend the rental moratorium to 31 December 2020 without proportionate attention to the landlord’s…
The Victorian Government is extending eviction moratorium laws to provide greater certainty for both tenants and landlords. Rental increases are also banned until the end of the year. Victoria’s ban on rental hikes and evictions which had previously been set to expire on 29 September will be extended until 31 December. Extension of these laws…
Despite house prices remaining resilient, we know our rental markets have taken a beating due to Covid-19. Realestate.com.au reports that for the first time on record the cost of renting in Australia has fallen. The results are a clear indicator of how COVID-19 has changed the dynamic of the property market. Over the June quarter…
One of the most impacted sectors of our housing market amidst COVID-19 has been the rental markets. The latest ANZ-Core Logic Housing Affordability report shows that the rental market has been more heavily affected than the buyers’ market in the current crisis, with a combination of falling demand and rising supply. However, Australia does not…
The rental markets across Australia have been widely impacted by the Coronavirus pandemic . In the current crisis, the rental market has been more heavily affected than the buyers’ market, with a combination of falling demand and rising supply. However, as with property values and transactions, Australia does not have a ‘single’ rental market. Australia…
The Victorian Government has introduced rent relief grants for eligible tenants experiencing rental hardship as a result of the coronavirus (COVID-19) pandemic. The problem is, most tenants and landlords don’t really understand what this involves, so let’s have a look at some of the key aspects provided by the government. In this article I’ll explain…
