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Longer leases for Victorian home renters

The cap on Victorian home rental leases will be lifted, giving tenants a chance to sign agreements longer than five years.

A house for lease in Melbourne, Monday, May 7, 2012. (AAP Image/David Crosling) NO ARCHIVING
A house for lease in Melbourne, Monday, May 7, 2012. (AAP Image/David Crosling) NO ARCHIVING Source: AAP

Victorian renters will soon be able to sign longer home rental leases with the five-year cap on tenancy agreements set to be lifted.

Landlords and renters who want long-term agreements will also be matched on a new government website.

Changes to the law to allow longer leases will be made in 2018.

Currently, landlords can only offer tenants standard protection leases up to five years in length.

But when asked if landlords would be locked into a fixed rent cost for the length of the lease, Premier Daniel Mr Andrews said that was still to be decided.

"You have a whole lot of protections that currently exist in a five year lease," Mr Andrews told reporters on Thursday.

"Those protections will be mirrored, but we want some further consultation on this because there may be issues that are specific because it's a longer lease."

Tenants and landlords will still be able to break lease under the longer term agreement.

One in four Victorians rent, and one in five renters live in their property for five or more years.

Renter and mum Sharna Beves from Caroline Springs says she is lucky their landlord wants to keep them on long-term, and that living year-to-year on uncertain 12-month leases would be "stressful".


2 min read

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Updated

Source: AAP




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