NEWS FROM REIV: POTENTIAL IMPACT OF NEW ENERGY EFFICIENCY STANDARDS ON LANDLORDS The

The Real Estate Institute of Victoria (REIV) has voiced concerns over the Victorian Government’s initiative to improve energy efficiency in rental properties. While the goal is commendable, the REIV warns that significant cost increases in a short period could destabilise the rental market.

REIV Recommendations to Government:

  1. Financial Assistance for Rental Providers: Measures such as land tax rebates are needed to help property owners manage compliance costs. Without financial support, landlords might reduce rental properties, worsening affordability issues for tenants.
  2. Extended Timeframes and Transitional Periods: To address high costs, skill shortages, and logistical challenges, the REIV recommends a 36-month lead time for full compliance. A phased-in approach prioritising impactful standards first would facilitate smoother compliance.
  3. Compliance Training: Structural reforms are necessary. Comprehensive training programs for all stakeholders would prevent non-compliance issues.
  4. Clarity on Exemptions: Clear guidelines on exemptions are essential to avoid ambiguity and misuse of loopholes.
  5. Sector Education: Collaboration with Consumer Affairs Victoria to ensure education initiatives for rental providers and renters about their new obligations.

Advice for First-Time Renters

The rental market can be challenging for first-time renters. At Create Real Estate, we’re here to help you secure your first place.

Tips for First-Time Renters:

  • Work with Agents: Agents are open to working with first-time renters. Creativity and persistence can give you an edge.
  • Join a Share House: Starting in an established share house can help build your rental history. Ensure you’re listed on the lease.
  • Propose a Short-Term Lease: For new share houses, consider a short-term lease, such as six months, with an option to extend.
  • Gather Strong References: Obtain strong, independent references and inform your referees in advance to avoid delays.

Create Real Estate’s Support:

  • Expert Guidance: Our agents provide personalised advice and support throughout the rental process.
  • Resource Access: We offer resources and tools to help you understand your tenant rights and responsibilities.
  • Community Connections: We connect you with established share houses and reliable property managers.

Additional Resources:

At Create Real Estate, we support both landlords and tenants. Whether you’re a property owner concerned about new regulations or a first-time renter looking for a home, we are here to help.