Victorian Government to introduce 10 year standard leases via regulatory reform

The Victorian state Government has proposed the introduction of new legislation in a bid to provide greater security for tenants and landlords via decade long leases.

The Age reports that Premier Daniel Andrews has said that changes to standard leases will see current 5 year restrictions lifted so there is no ‘artificial cap’ on the length of leases, in turn providing greater security for landlords and tenants.  While tenants may have greater security the article suggests that landlords may be unlikely to embrace the change which is expected to come into place by 2018.  Read more