Posted On : August 8, 2024
Your Quick Guide to Queensland’s 2024 Rental Law Changes (June 2024) for Investors
The latest amendments to Queensland’s rental laws, effective from June 6, 2024, introduce significant changes impacting general tenancies, rooming accommodations, and moveable dwelling tenancies. These changes, under the Residential Tenancies and Rooming Accommodation and Other Legislation Amendment Act 2024, aim to balance tenant rights and property management responsibilities. Here’s a concise breakdown of the key updates relevant to you as an investor!
Rent and Increases
- Rent Bidding Ban: It’s illegal for anyone involved in tenancy agreements to solicit or accept rent offers higher than the advertised amount.
- Advance Rent Limitations: Property managers cannot request or accept more than two weeks’ rent in advance for periodic tenancies or one month for fixed-term tenancies.
- Annual Rent Increases: Rent can only be increased once every 12 months, and new rental agreements must state the date of the last rent increase.
- Evidence of Rent Increase: Tenants can request written evidence of the last rent increase, which must be provided within 14 days.
- Fixed Room Pricing: Rooms must be advertised at a fixed price.
- Undue Hardship Applications: Property managers can apply to QCAT for rent increases within 12 months if they experience undue hardship.
Balancing Privacy and Access
- Smoke Alarms: Property managers can enter rooms to install, maintain, or repair smoke alarms with at least 24 hours’ notice to tenants.
Rental Bond Processes
- Bond Loans: If a tenant obtains a bond loan from a commercial lender, their bond share will be refunded directly to them.
- Rooming Accommodation Bonds: Bonds for rooms must be lodged with the RTA within 10 days if the owner lives onsite and rents out three or fewer rooms.
- Bond Disputes: The RTA can release bonds per the original request if a bond dispute is dismissed or withdrawn.
Regulation and Enforcement
- New Regulations: Establishes regulations for a portable bond scheme, rental sector code of conduct, and safety modifications applications.
- Information Sharing: The RTA can now share information with other regulatory bodies.
- False Information Penalties: Penalties apply for providing false or misleading information to the RTA.
- Increased Enforcement: The RTA has greater enforcement powers to ensure compliance with rental laws.
Other Changes
- Ending Tenancies: New grounds for ending short tenancies and clarity on ending tenancies related to community title schemes and student entitlements.
- Handling Abandoned Goods: Property managers must make reasonable efforts to contact former tenants regarding abandoned goods and follow revised processes for disposal or sale.
While your UBA rentals team has diligently updated your property to comply with the new legislation, it’s crucial for you, as an investor, to stay informed about the current rental market conditions, as they can significantly influence your future decisions.
If you have any questions about the new legislation or how it affects your investments, please don’t hesitate to reach out to Kat.
