A property lecturer says while the changes could lead to a more equitable quality of life, they also may lead to investors choosing to swap from long-term leases to short-term accommodation.
The proposal includes prescribing standards to ceiling insulation, draught proofing, hot water systems, cooling and heating.Victorian landlords could soon have to make significant changes to their properties under the state's new minimum rental standards , raising concerns it will put further pressure on an already tight market.
Mr Belfrage said he loved the idea of what the government was trying to achieve with the new standards but they could prove costly for landlords. According to latest data from REA Group, regional Victoria's rental vacancy is about 1.2 per cent, representing a 20 per cent decrease since 2020.Mr Belfrage said it was highly unlikely that landlords, forced to fork out thousands to meet the proposed standards, would not pass on the expenses to tenants, effectively neutralising the potential $791 energy saving pitched by the state government.
A report by Deloitte for the Department of Energy, Environment and Climate Action last month found changes to minimum standards could prompt rental providers to withdraw properties from the market, "further limiting supply". "It probably makes sense to project that it might put more pressure on because of this cost, as well as an existing supply constraint," he said.But Dr Wu said the principal of the proposed new regulation was to maintain a basic quality of life across Victoria and therefore the social impact could be great."A better-quality building has both benefit for occupiers' comfort and wellbeing and at the same time it will have some benefit for environmental sustainability.
Minimum Standards For Rental Properties Victoria Rental Properties Victoria Rentals Vic Rental Standards Landlords Housing Market Tenant Rights Low Housing Stock Rental Crisis Housing Crisis
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