Rental Law Reforms 2024

Rental Law Reforms – Staying Up-to-date

There has been great pressure on new renters in Moreton Bay, including ultra-low vacancy rates here. To help with fairness and affordability state-wide, the Queensland Government passed an Amendment Bill 2024 for Residential Tenancies and Rooming Accommodation and Other Legislation Amendment Bill 2024. This Bill introduces the Stage 2 rental law reforms and continuing professional development (CPD) for property agents in Queensland.

The first part of the legislative changes came into effect quickly on 6 June 2024, putting the burden onto property managers everywhere to update their systems and advise leaseholders.  

The changes affect these main areas:

  • A limit on rent in advance paid, up to the legislative requirements, if offered upfront
  • A property manager or lessor can no longer accept an offer from a tenant to pay rent above the advertised price.
  • The rent increase frequency limit will attach to the property instead of the tenancy. This means that rent must not be increased within 12 months after the date the rent was last increased for the property. This requirement applies regardless of whether there is a change of tenant or lessor in the 12-month period.
  • The rent increase provisions will apply retrospectively. 
  • From 6 June 2024, rent can only be increased if it has been at least 12 months since the current rent amount became payable for the premises. The rent increase needs to then be advised separately under a special written notice, rather than just be inside the agreement. 

Saving Property Owners A lot of Time and Headaches

While property owners may think that it’s just a quick set of changes to read, think of it this way. With a good property manager, you don’t have to read all these changes, check the process required by law and then enact them with tenants’ leases and notices. It may surprise you to learn the Residential Tenancies & Rooming Accommodation Act is now 467 pages. 

No managers can be abreast of every detail, so what we do is work with the REIQ and rely on their legal advice to ensure that our property management system is compliant – both with the 39 new changes and the whole Act. That is the benefit of being a long-term member agency of REIQ.

James Brown, who has long been associated with the REIQ as past chair of the Caboolture/Redcliffe Zone, said, “Our adaptation has had to be swift, with minimal lead time, to operate in line with this week’s changes. Fortunately, we’re experienced with these changes as we have had to adapt to numerous amendments throughout the years. This comes at a time when property managers are at the coalface of the home rental affordability crisis, dealing with the variety of issues that it creates in people’s lives.”

If you’re looking for attentive property managers and up-to-date information, please give one of our friendly property management agents a call.