Rental Reforms and the Value of a Great Property Manager

REIWA has explained that under phase one “Owners and property managers will be banned from asking for more than the advertised rent. In addition, they must list the property for rent at a single price, not a range or a ‘from’ price.” Of interest, REIWA’s press release states “tenants can still voluntarily offer to pay more than the advertised price, and this will not constitute rent bidding.”

REIWA’s press release also advises that “This phase will also provide new provisions for tenants to seek remedy or compensation from a court if they believe the owner has taken retaliatory action against them after they exercised their rights as a tenant.”

Other reforms including those relating to limiting rent increases (rent increases will be limited to once a year), pets and tenants making minor modifications to a property are expected to take effect mid-year (phase two).

The final stage (phase three) of the reforms would include the changes to the bond disposal process and is expected in 2025.

Balancing owners’ and tenants’ rights and responsibilities can be challenging. Having a great Property Manager who is extremely knowledgeable, responsive and a great communicator is invaluable for an owner-investor and for tenants.

At White House we strive to provide service excellence in both property management and sales. We are continuously training and learning and improving our processes to ensure that we have the knowledge, skills and processes to be able to work with owners and tenants effectively with clear and frequent communication as a means to create a harmonious experience and to minimise stress for all parties.