The property management industry in Melbourne has had a tough few years. Incoming and proposed legislation has increased administrative task requirements for property managers which has directly impacted profits. 

The property market has always been a roller coaster and while it’s impossible to predict the future with 100% accuracy, there are economic trends and policy updates which are likely to influence the market over the next 12 months. 

Victorian rental property owners will need specific reasons to ask their renters to move out as part of proposed rental property law reforms.

Victoria is set to implement an additional levy for the owners of short-term rental properties leased. This change may affect local rental property trends. 

A rent roll exchange can take months, but it will drag out far longer than necessary if the vendor isn’t well-prepared going into the process. What’s more, a lack of preparation can lead to a deal falling apart in the later stages, which is frustrating for everyone involved.