Victorian Rental Reforms became effective on 29 March 2021.
Snug is supporting the industry, including property managers, renters and other stakeholders in Victoria with implementing the reforms.
Rental reforms are an important cycle of review and update in the industry to align regulations with housing trends, community expectations, and industry standards. Consultative rental reforms are beneficial for everyone in the industry.
What is Snug doing to help Victorian property managers and Renters?
We're updating our Snug Match leasing platform, processes to implement the reforms. Here's a brief summary of 10 key changes:
1. Renting Guide
The renting guide is digitally delivered through the leasing journey at multiple touchpoints, including within the enquiry auto-reply to renters and when starting an application. The applicant acknowledges receipt when submitting their rental application.
2. Statement of Information
The prescribed Form 3 Statement of Information is provided through the leasing journey at multiple touchpoints, including within the enquiry auto-reply to renters and when starting an application. The applicant acknowledges receipt when submitting their rental application.
3. Review of the platform for potential discrimination
Snug is trialling the removal of the renter profile image from the application summary and details page.
4. Privacy Policy
Snug has updated the Personal Information Collection and Disclosure Authority to include referral of renter information, warranties and other beneficial refinements.
5. Rental price offer
The rental price on application submission can be reduced from the advertised price; however, the [+] toggle has been removed to not solicit higher rent offers.
6. Property Disclosures
Snug enables property providers to complete the disclosures in the Onlist process when listing a new property, for example, the property sales disclosure. The Property Disclosures are displayed on the property page, within the enquiry auto-reply to the renter and on the application submission page.
7. Embedded network
The name and contact details of the embedded network energy provider and links to the pricing page or online resources are enabled in the Onlist process when listing a new property.
8. Bank statement transactions
Applicants are not requested nor required to upload a bank statement with daily transactions in Victoria; however, renters can provide proof of affordability and savings by uploading a redacted bank statement or a snapshot of the account balance.
9. Bond history
Bond history rental reference questions have been removed. Responses to references prior to the effective date are displayed.
10. Sharing information with Owners
Information that may be potentially discriminatory has been removed from the application share with the owner summary.
Snug will continue to monitor reform announcements and consider feedback from the industry to continue refining the platform.