PropertyBuzz, your daily dose of property news.
A new proposal for a National Renters Protection authority, Victoria’s underquoting taskforce becomes permanent, and Airbnb puts its weight into a political fight
Welcome to Property Buzz! I’m Juliet Helmke. Today is Tuesday, 03 September.
– The Greens have introduced a proposal to establish a ‘National Renters Protection Authority’ to enforce tenancy standards across the country as well as the rental caps the party would like to introduce.
– If established, the NRPA would be given the power to investigate and fine landlords and real estate agents, and refer serious offenders for prosecution.
– In the blueprint for its plan, the Greens estimated that the authority would cost $200 million per year, and proposed that the body be able to issue fines of roughly $3,000 to individuals and nearly $19,000 to agencies. It would also be given the ability to remove a real estate agent’s licence.
– The Greens’ broader plan includes distributing $2.5 billion a year to states and territories for introducing model tenancy standards and improving tribunals dealing with tenancy disputes.
And looking at Victoria now, there’s lots going on in the state, with the jurisdiction’s consumer affairs watchdog announcing that the underquoting taskforce that has been running as a trial for the past two years will now be a permanent fixture.
– The state said there was clearly still a need for the taskforce’s work to continue, with close to 3,000 complaints being received by the body in the past two years, of which 30 per cent reportedly came from industry insiders.
– Since its inception, the taskforce has issued 320 warnings, $1.6 million in fines, and monitored nearly 2,000 sales campaigns to combat underquoting. In the months ahead it will be reportedly focusing on Melbourne’s inner-north west, which has been the focus of numerous complaints as Spring’s auction season has ramped up.
And staying in Victoria, the state’s recent draft legislation to introduce a 7.5 per cent tax on short-term rentals has met considerable pushback from tech giant Airbnb, despite the platform having worked in consultation with the government on this move.
– In addition to the new levy, the laws would give owners’ corporations the ability to ban short stays in their developments if approved by a 75 per cent share, and allow local councils to create their own regulations around short stay accommodation.
– Airbnb argues that the levy is too high and should be applied to all accommodation providers, such as hotels, and that the powers proposed for local councils have the ability to sew confusion.
– As the legislation makes its way through the parliamentary system, Airbnb has pledged to push for changes.
That’s Property Buzz for today. See you again tomorrow, 04 September, for your daily dose of Property Buzz.
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