As announced by the Victorian Government, the Commercial Tenancy Rent Relief Scheme has been re-introduced (subject to variations) with legislation being passed with effect from 28 July 2021. The intent, as in the previous scheme, is to facilitate Landlords and Tenants to negotiate mutually acceptable arrangements that work through their particular circumstances.
Buying a house is often the most significant investment an individual will make. The decision to invest or buy into a Retirement Village should be taken with equal care and consideration as such a step can impact future lifestyle options and financial security.
Buying and selling a property can be both an exciting and stressful time. We have prepared a checklist for both buying and selling a property to assist you with understanding the processes involved to ensure that your sale or purchase is as smooth as possible.
The new rental laws aim to set minimum standards for rental properties in Victoria and clarify the rights and responsibilities of both tenants and landlords. The new residential tenancy laws will encapsulate all stages of the end to end rental process, from before the rental agreement is signed, right until the agreement comes to an end. This includes repairs and modification to rooming houses, long term leases, notices to vacate and pet ownership.
On 22 September 2020, the Retail Leases Amendment Act 2020 (Vic) came into force. The Amendment Act created new rights and obligations to important retail leasing processes governed by the Retail Leases Act 2003 (Vic) (“the Act”). It is imperative that both landlords and tenants are aware of these key changes to avoid any consequences and loss of entitlements regarding their existing leases and new leases. This article summarises these changes and will focus on the new process for further lease terms.
It is quite common for both the Landlord and the Tenant to enter into a Lease with the best of intentions, where both parties mutually can benefit. The Landlord can obtain a steady stream of income from the rent and the Tenant can utilise the premises, in accordance with the agreed permitted use under the Lease. However, what can a Landlord do if the Tenant simply stops paying rent, stops paying the outgoings, or breaches other fundamental terms of the Lease (such as an unauthorised assignment or subletting)?
When selling property in Victoria, many sellers may be used to terms such as ‘Section 32’ or ‘Vendor’s Statement’. Usually, your legal representative will assist you with the preparation of this document in anticipation of your sale. It is important to note however that the Contract may be rescinded by a Purchaser if an adequate Vendor’s Statement is not provided to them at the time of sale (noting the obligations under section 32K of the Sale of Land Act 1962 (Vic)).
When a purchaser requests a Special Condition, it should be drafted carefully and you should always be careful of using an old precedent clause that might not necessarily be binding. It is always prudent for a lawyer to draft such clauses rather than an agent that will give the agent protection against any claim by a disappointed vendor. It is also important that vendors understand that a "major structural defect" might not be as obvious as everyone thinks!
On 29 September 2020 the COVID-19 Omnibus (Emergency Measures) (Commercial Leases and Licences) Miscellaneous Amendments Regulations 2020 (“The Amending Regulations”) came into effect. The Amending Regulations extend the operation of the COVID-19 Omnibus (Emergency Measures) (Commercial Leases and Licences) Regulations 2020 (Vic) (“the Regulations”) from 29 September 2020 to 31 December 2020. This article highlights some the key changes to the rent relief process established by these Amending Regulations.
On 20 August 2020, the Victorian Treasurer has announced an extension to the existing rent relief scheme and some further measures to assist Landlords and Tenants. The actual Regulations are yet to be released and more detail will invariably follow. In the meantime, we have summarised what has been announced with more information to follow as these changes occur.
There are various steps that are required to be completed by your lawyer prior to completing your transaction electronically. These include but are not limited to the formal verification of your identity in addition to completing a client authorisation form. Read our article for further details.
