Rent hikes
for Victorians will be capped to once a year under changes in effect from
Wednesday, in a bid to make renting fairer.
The cap will
apply to fixed-term and month-to month tenancy agreements, but existing
arrangements will continue to apply until the lease ends.
"Limiting
rental increases to once every 12 months helps families who may be doing it
tough to better balance their living costs, provides greater financial security
and increases protections for tenants," Consumer Affairs Marlene Kairouz
said.
Prior to the
changes, landlords could increase rent every six months under a tenancy
agreement, leaving vulnerable or disadvantaged tenants often in a precarious
financial situation, she said.
RealRenta will
automatically text and email a payment reminder to tenants if rent is not paid
on time, as well as, sending a text and email reminder to the landlord.
If payment still has
not been remitted within 7 days of the original reminder, RealRenta will
automatically generate a breach notice.
Use RealRenta for
Free now for up to 2 months and you will NEVER hand over your rental income to agents
ever again.
Sign up here: https://app.realrenta.com/Signup.aspx
Jason Gwerder
Monday, 24 June 2019
