New Laws Mean Rent Can Only Be Increased Once A Year In Victoria
Starting this week
Rent hikes for Victorians will be capped to once a year under changes in effect from this week 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.