You’ve heard of the musical, now read the survey. Renting and the experiences of tenants, landlords and property managers in Victoria was the subject of a comprehensive survey earlier this year and the results were released at the end of August.
The purpose of the survey was to create a comprehensive, evidence-based review of the Residential Tenancies Act 1997 under the Fairer Safer Housing initiative.
The survey was commissioned Consumer Affairs Victoria, on behalf of the Department of Justice and Regulation and conducted by research agency EY Sweeney and covered apartments and units, moveable homes and residents of caravan parks. Those surveyed were asked about their experiences in the rental market, the impact of those experiences, and their expectations and preferences in terms of the rental industry in Victoria.
Experiences with renting in Victoria: Overall satisfaction
The majority of tenants and landlords report being satisfied with their experiences in the Victorian rental market (73% of tenants and 86% of landlords). Around one in five (18%) tenants and one in 11 landlords (9%) report being dissatisfied while the remainder are neither satisfied nor dissatisfied.
Tenant satisfaction decreases with experience in the rental market – 81% of first time renters are satisfied compared to 71% of experienced tenants, and those who have been renting for more than ten years are the least satisfied (64%).
Of note, tenants who hold a concession card and those who have a disability or health condition that limits their everyday activity show significantly lower satisfaction compared to other tenants (64% and 58% satisfied respectively, compared to the average of 73%).
The majority of landlords (78%) report that they rarely or never experience problems with their tenants. A small minority (3%) experience frequent problems and 19% report that they occasionally experience problems with their tenants. Landlords with only one rental property are significantly more likely to have never experienced problems with their tenants (38% compared to 26% on average).