There have been some changes which have come into play under the Residential Tenancies Act.
The recent changes include that we can now only do 12 month rent increases on residential properties. The other change which won’t impact landlords but will impact us slightly is that we can now serve our little red book, which is our Consumer Affairs booklet for tenants, electronically at the start of the tenancy. This is a fantastic change because it means that we won’t be wasting so much paper handing out the book.
The rest of the 138 changes are due to come out on July 1, 2020.
Five-year fixed-term tenancies are now also recognised under the Act. We don’t believe there will be a lot of tenants or landlords who will ask for this but the provision is there now if we need it.
At Geelong Property Managers, we will keep you informed as the new legislation comes into play.
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