We have some big news to share about the recent rental reforms in WA that are set to impact both landlords and tenants. These changes aim to create a more balanced and transparent rental market.
This blog post will guide you through the fundamental changes implemented in Stage One (effective between May 2024 and early 2025). We'll also provide an inside look into what Stages 2 and 3 might hold, what you need to know, and what to expect with the changes.
Rent Bidding
Effective immediately, it is illegal to encourage potential tenants to offer more than the advertised rental price in their application. However, tenants can still offer more than the advertised rent if they wish.
Pets in Rental Properties
Starting mid-2024, there will need to be a valid reason to refuse pets in your rental property. Acceptable reasons currently include:
· The property is unsuitable for pets.
· The pet is illegal.
· Medical reasons (e.g., if you're allergic and plan to move in at some stage).
· Strata bylaws prohibiting pets.
This reform means you'll need to be more accommodating towards tenants with pets unless you have a legitimate reason to refuse.
Annual Rent Reviews
Also, beginning mid-2024, rent reviews can only be conducted once every 12 months during a fixed-term agreement. This means no more rent increases every six months. This is done to provide more tenant stability and simplify your rental management.
Minor Modifications by Tenants
From mid-2024, tenants will be allowed to make minor modifications to your property without needing your explicit approval. You can only deny these requests for legitimate reasons, primarily relating to structural concerns or unnecessary changes (like painting all the walls black). This change empowers tenants to personalise their space while ensuring that major modifications remain under your control.
Changes to Bond Disposal Process
Expected in 2025, the bond disposal process will now be overseen by the Department of Mines, Industry Regulation and Safety (DMIRS) before any court action is taken. This aims to streamline the process and make it more efficient for both landlords and tenants.
Stages 2 & 3: A Look Ahead
We're keeping our eyes peeled for Stages 2 and 3! While the details aren't out yet, the WA government is thinking about stuff like better info for renters, minimum standards for rental properties, and more transparent rules on maintenance and repairs.
Staying Informed & Compliant
As your friendly neighbourhood property experts, we want to ensure you're up-to-date with all the latest info. As the intricate details evolve and emerge, we will be at the forefront of what needs to be implemented and ensure processes and policies are updated accordingly.
Stay chill, stay informed, and if you have any questions, you know where to find us!
We're here to help you navigate these changes smoothly. Stay informed and stay ahead! Stay tuned for more updates, and reach out if you would like clarity on your property.
Contact Holly, your dedicated property management specialist on holly@hedgespg.com.au
For more information or to have your property looked after.
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