Pre Settlement Inspections

I am pleased to advise that Business Victoria has taken our feedback on-board and updated their advice regarding pre settlement inspections. The REIV Reference Guide has been updated to reflect this.

"If the buyer is seeking to conduct a pre settlement inspection this should be conducted remotely where possible. If the buyer must attend the site to complete a pre-settlement inspection, then they can attend the site by private appointment. Physical distancing must be maintained and face coverings must be worn."

Land Tax Relief for Residential Properties

There is land tax relief of up to 25% of proportional land tax for owners of empty residential properties.

To be eligible for tax relief for an untenanted property, you must demonstrate that your property:

Was tenanted under an eligible agreement in March 2020 or was the subject of an executed eligible agreement in March 2020 that the tenant did not fulfil.
Was subsequently vacant for a continuous period of three months because of the coronavirus pandemic.

Commercial Landlord Hardship Fund

The Victorian Government is offering grants of up to $3,000 per tenancy to eligible small private, individual and joint-owner landlords, who are facing financial hardship after reducing rent for their tenants under CTRS requirements.

Leah Calnan

REIV President

25/08/2020

REIV - Accessing landlord hardship fund and update re pre settlement inspections