Victoria’s peak tenancy body says that claims made by the REIV that a mass landlord exodus is occurring following the Victorian Government’s recently announced reforms to the Residential Tenancies Act (RTA) show the industry body’s lack of credibility and knowledge about supply and demand.
“Are we really expected to believe that all of these anxious landlords are prepared to leave the properties vacant indefinitely and lose rental income because of reforms that haven’t actually been legislated yet?” says Tenants Victoria CEO, Mark O’Brien
O’Brien says that properties will not simply disappear from the housing market even if a handful of landlords eventually decide to exit the rental market.
“If a landlord wants to exit the rental market and sell their property, one of two things will happen,” says O’Brien.
“Either a home buyer will be able to purchase the property, or another investor who realises these reforms are fair, common sense changes will snap it up and put it back on the rental market.”
O’Brien also stresses that if the landlord decides to simply leave the property vacant, then they will simply be required to pay the newly announced tax on vacant properties set to launch next year.
“This is just more baseless scaremongering from the rent seekers and commission sellers.”