Premier Dan Andrews has announced the arrival of a $500 million relief package in a bid to provide support for Vic renters and landlords.
As part of this relief package, the government has created an $80 million ‘rental assistance fund’ for Vic renters who’ve had a rough trot during the pandemic (be it job loss, or any other COVID-19-related situation that has left a tenant financially strained). To be eligible, there are a couple of added stipulations:
- Your revised rental agreement must be registered with Consumer Affairs Victoria (or gone through mediation).
- You have under $5k in savings.
- You must still be paying at least 30% of your income in rent.
The Government will also supply $420 million in land tax relief, meaning that, if landlords provide rent relief for their tenants amid coronavirus, they could be eligible for 25% off their original land tax.
“More than ever, we need to be working in partnership,” Premier Andrews stated. “Landlords working with tenants. Tenants working with landlords. And Government willing to help those most in need.”
“These are unprecedented measures – but we are facing an unprecedented crisis,” Minister for Consumer Affairs Marlene Kairouz noted. “With this support, we’ll help tenants cover the rent and keep a roof over their head.”
These new legislations will be put through parliament next Thursday.