Ah, a new announcement was made today about more rental reforms of the current Residential Tenancies Act. They’ve said there’s 130 reforms, but so far I think less than 20 odd have been announced - all very tenant oriented. This is the latest announcement today, but a few of these were already known/discussed back in October 2017. I don’t completely disagree with all of the announcements as the existing legislation is over 20 years old, however I think the Gov misunderstands the meaning of “fair”. I guess with the number of reforms that haven’t been discussed there very well could be a number of announcements that do make the to be legislation more “fair” but it’s yet to be seen. So, what are the pros and cons of some of the ones we know? Well, that depends which side of the fence you primarily sit on. I think having a 14 day auto release of the bond is awesome. The current legislation means that the bond needs to be released within 10 business days or an application to VCAT for an extension must be made - so all things considered, if you were already operating within the current legislation this really shouldn’t make a difference, but does mean tenants aren’t waiting potentially months for someone else to lodge some paperwork. I also think allowing pets is great, HOWEVER not every property is suited for it and needing to prove that isn’t ideal. Who makes the final decision? What does a property need/not need for it to be deemed that an owner can say no? I also note the property must be fumigated, so that’s a small pro in all of this. I’m still unhappy about the changes of the notices to vacate and strongly believe this will mean tenants are less likely to be given a second chance as after the initial lease you effectively wouldn’t be able to boot a tenant out unless you’re renovating, demolishing, family member moving in, PPOR clause or a breach of the tenancy. It might sound like you still have plenty of options, but when you’re actually playing the game this isn’t really the case. BOND! Limiting it to 4 weeks, regardless of the rent on the property is ludicrous. It takes a MINIMUM of 6 weeks to go to VCAT for rental arrears. So, where does that leave the investor? There’s a heap more and I could hammer on for days about it all. I have a lot of opinions - but I’d love to hear some others too!