Rent Guidelines Gives Clarity to Queensland Landlords

  • By Peter Gordon
  • •
  • 20 Apr, 2020

The Queensland government established residential rent guidelines to support landlords and property managers almost three weeks after the national cabinet announced the moratorium on evictions.

Landlords were left in limbo after prime minister Scott Morrison made the announcement with no clear instructions on how it would be implemented by either the state or federal governments.

Real estate peak body the Real Estate Institute of Queensland ran a three day campaign for clarity in the property market before the state government “conceded” and made the new guidelines.

REIQ chief executive officer Antonia Mercorella they were satisfied with the framework which provided a more balanced approach for tenants and owners.

“The previously proposed measures would have seriously harmed over 600,000 property owners who provide the vast majority of rental housing supply to 35 per cent of Queensland’s population who rent,” Mercorella said.

“Furthermore, it would have had a devastating impact on the future of the property market and broader Queensland economy.

“We support the protection of tenants who are in financial distress due to this pandemic. However, the scope of the previously proposed measures were too broad in their application.

“In fact, they were the most onerous of their kind for property owners across all Australian jurisdictions.”


Covid-19 rent guideline summary

- Threshold criteria to qualify for the application of the COVID-19 rental response, that includes a 25 per cent reduction in income, or where rent exceeds 30 per cent of the tenant’s income.

- Tenants can be asked to provide the same proof of finances to property managers just as they would when starting a tenancy.

- Clear guidance on access for the sale of the property, virtual rental inspections and access for essential repairs and maintenance.

- A 75 per cent income loss threshold before a tenant can end a tenancy with a 7-day cap on break lease fees.

- Limiting any extension on the term of a tenancy agreement during the Covid-19 period to 30 September, 2020 unless agreed otherwise by the owner and tenant, or there is an appropriate ground to end the tenancy.

Minister for housing and public works Mick de Brenni said the government worked with industry stakeholders to take into account the concerns from Queensland property owners and tenants.

“The guide will support owners on a range of Covid-19 issues along with free, impartial and expert conciliation from the Residential Tenancies Authority if parties need additional support to reach agreement,” de Brenni said.

“Tenants and property owners in significant financial distress are also being supported through a $20 million rental grant package, announced with the framework over a week ago.

“As a final step, amendments to the Residential Tenancies and Rooming Accommodation Act will be introduced in Parliament to enable the emergency measures.”

The Residential Tenancies Practice Guide Covid-19 would be published on the Queensland government's new coronavirus website.

Article courtesy The Urban Developer 20/4/20

ZOOM Lunch & Learn - 28th April 2020 Ipm

If you are an investor or considering investing in property, then I would highly recommend you take 45 minutes to join us on the 28th April. We'll discuss as an investor and property owner how will COVID-19 affect you and your future?Login details will be emailed to you the morning of the event.

If you would like to ask any questions on the day please email them to info@investoproperty.com.au prior to the presentation. If the questions are of a personal nature we would recommend we have a private ZOOM meeting.

We hope to see you online on the 28th April at 1.00pm.

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Introducing The Palms Estate, Cairns - The Northern Beach's Premier Address

By Peter Gordon • April 26, 2023

Quiet simply, the Palms is the place to buy!

The northern beaches of Cairns is the Nation's best location for property investors right now, and The Palms is the premier development in this boom region.

It has the best location being elevated and backing onto the rainforest. It will have amazing facilities with a shopping village, a primary school, parks and green open space, a water park and an expanse of wildlife corridors.

It has taken the developers three years to get planning approval for this unique development to be able to hit the market. There are only 300 lots spread across 85 acres of the best land in The Northern Beaches.  Residents will have an abundance of open space right at their doorstep.  The Palms is also the only Certified Enviro Development project in Far North Queensland.

> Cairns Snapshot

In the rivalry between Sydney and Melbourne, the winner is ... Brisbane

By Peter Gordon • April 20, 2023

Sydneysiders and Melburnians, put aside your equally outstanding flat whites for a moment. Stop bickering about whether great beaches beat cool laneways (they do) and desist from debating whether all baristas require waxed moustaches (ideally).

Because Brisbane is closing in on the title of Australia’s best city, and we must join forces to keep this subtropical upstart in its place.

Time  magazine recently named Brisvegas on its “World’s Greatest Places” list, and omitted our cities. It’s a huge shock (and who knew they still published Time  magazine?). But they might be onto something.

Time  points to the 2032 Olympic and Paralympic Games, which will be hosted in the maroon metropolis. Brisbane will do a fine job, even though it’ll baffle the world when rugby league is added to the schedule and Queensland is allowed to field its own team.

Time’s  most radical claim is that Brisbane is worth visiting now, but tourism is surging. Not only did Lin-Manuel Miranda recently drop in to catch Hamilton , but hundreds of Hamilfans flew up to watch his interview with Leigh Sales (presumably unaware that it would subsequently arrive on iView for free).

Incredible Lifestyle At An Affordable Price  Equity of approx $390K on completion

By Peter Gordon • April 6, 2023
This small duplex development just a short drive from Hervey Bay on Queensland’s beautiful Fraser Coast, offers an incredible lifestyle at an affordable price. With unprecedented demand and very limited supply, prices look set to skyrocket.

A leading local agent has appraised each side of these duplex's to be worth $665k on completion and rent for $495 per week. So that is massive potentail instant equity of up to $390K on completion, which is incredibly hard to find.
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