The Residential Tenancies Amendment (Long-term Tenancy Agreements) Act 2018 commenced on 1 February 2019.
This new legislation amends the Residential Tenancies Act 1997 (RTA) to apply to all fixed-term tenancy agreements, regardless of how long they are. Previously, the RTA only applied to tenancy agreements of five years or less.
What this change means for landlords
This change does not affect your current lease/s. Long-term leases are optional and do not replace the existing standard lease agreement.
Long-term leases may suit landlords who are certain of their long-term plans, and want the security and stability of knowing they don’t have to find new tenants for the duration of the lease.
From 3 April, a specific agreement for long-term leases of more than five years will be prescribed by regulations. It will have added benefits and protections for landlords and tenants.
In the meantime, if you want to enter a long-term lease, you can use the existing Residential tenancy agreement (Word, 1.5MB). The form of this agreement will not change and you can continue using it for both short and long-term leases.
You can view the Residential Tenancies Amendment (Long-term Tenancy Agreements) Act 2018 on the Victorian Legislation and Parliamentary Documents website.
For more information on your rights and responsibilities as a landlord, visit our Renting section.