The timeline below summarises relevant legislative and industry changes affecting strata stakeholders in Victoria. It includes helpful links and further reading to help you understand Victori legislative changes.
September 2023
The NSW Government is preparing to implement pivotal reforms to strata laws to help the industry move towards a more transparent and equitable system. With approximately 1,000 strata schemes being registered annually over the past decade, the increasing need to address current issues and modernise strata living is becoming a key topic of focus.
The NSW Government is ready to commence its first phase of reforms to help benefit strata residents. The upcoming legislation will:
These reforms signify a promising step towards a fairer and more transparent strata living experience in NSW. Read on to learn how these reforms will address long-standing issues and help the strata laws adapt to the evolving landscape of community living arrangements.
November 2023
The future of affordable housing in Melbourne could be taking a compact turn with apartments less than 25 square metres, community spaces replacing private balconies, and no parking facilities.
A proposed residential project in Brunswick hopes to bring the tiny living concept, popular in cities like New York and Hong Kong, to Melbourne. The proposal has divided the Merri-bek City Council, with supporters seeing it as a solution to the housing crisis and sceptics fearing it may set lower living standards for future housing.
Despite initial refusal, the developers of the proposed Cysur building on Albert Street have now been granted a planning permit. This development brings to the forefront a pressing debate on the balance between affordability and quality of life in Melbourne’s housing market.
Read more to delve into the discussions surrounding micro-apartment viability as a solution to affordable housing in Melbourne.
November 2023
Starting in 2025, the Victorian Government will implement a 7.5% levy on revenues generated by short-stay accommodation providers, such as Airbnb and Stayz.
This state-wide initiative, the first of its kind across Australia, is designed to raise funds to aid Homes Victoria in constructing more social and affordable housing.
The burgeoning popularity of short-stay rental platforms has led to a decrease in the availability of properties for long-term use. With this levy, the government aims to balance the thriving short-term rental market and the increasing demand for affordable, long-term housing solutions.
While this levy might seem like a significant change, it’s worth noting that the revenue collected from this levy will be used to support the construction of social and affordable housing across the state.
While the policy has been welcomed as a boost for housing construction, Airbnb and the Victoria Tourism Industry Council have raised concerns. They fear that the 7.5% rate could negatively impact Victoria’s appeal as a tourism destination and discourage overnight stays in regional areas.
Tax experts warn that the levy might make operating short-term rentals more expensive for landlords. The increased costs may be passed onto consumers without necessarily alleviating the rental crisis. These concerns should be noted by owners corporations, who should closely monitor these trends and be ready to adapt their strategies if necessary. as they could potentially affect the demand and pricing for short-stay rentals.
In conclusion, while the new levy introduces a new layer of financial consideration for owners corporations, it is a step towards a balanced housing market. The key will be to stay informed, plan, and communicate effectively with all stakeholders for a smooth transition when the new rules occur.
For more information on the new short-term rental levy and its impact on the rental landscape, click the link to delve deeper into the story.
November 2023
Householders from up to 5,000 apartments across Victoria can soon look forward to reaping the benefits of solar energy. This development comes from a new $16 million partnership between the Victorian and Commonwealth Governments, aimed at improving access to solar for apartment buildings.
This groundbreaking partnership, scheduled for implementation later this year, will be executed by Solar Victoria to help eliminate hurdles associated with installing solar panels on apartment buildings. Grants, explicitly targeted at owners’ corporations, will be made available, with up to $2,800 per apartment and coverage for up to 50 apartments per building.
This initiative aims to simplify the process. By making funding available to owners’ corporations, the program will significantly increase the number of renters and lower-income Victorians who can reap the benefits of affordable solar energy. Installation of solar panels can help residents save on their energy bills, particularly heating costs, which are among the most significant energy expenses in most homes.
The program is currently in its design phase, in consultation with key stakeholders. It is expected to open to applications in late 2023, when information about eligibility criteria, application process, and program requirements will be communicated.
Click the link below to learn more about this program and register for updates
