The Queensland Parliament has passed legislation the State Government hopes will give “a fairer go to Queenslander renters”.
Under the laws, rent rises for residential tenancies and rooming accommodation agreements will now be limited to just once a year instead of every six months.
The amendments bring the sunshine state into line with other Australian jurisdictions, who have similar limits on how frequently landlords can hike their rents.
The annual limit on rent increases will apply to all new and existing tenancies from 1 July onwards.
“For most households, rent would be the biggest single expense in their household budget,” Deputy Premier Steven Miles said.
“The majority of landlords do the right thing, but taking immediate action will protect Queensland renters from landlords who aren’t operating fairly.”
It was one of several housing policy reforms to come out of the Government’s Housing Roundtable earlier this year.
But not everyone is happy, with the Real Estate Institute of Queensland slamming the move, which they have described as “questionable and concerning”.
“The Deputy Premier has stated that a reform to limit rent increases to once-yearly will apply from 1 July onwards, but the transition arrangements will mean that contractually agreed rent increases after this date will also no longer be valid,” REIQ CEO Antonia Mercorella said.
Ms Mercorella declared it was “absurd” and questioned the legality of the retrospective nature of the new laws.
“As a property investor, you may have negotiated a rent increase that you have banked on and budgeted for and now this has been stripped away,” Ms Mercorella said.
“It’s one thing to introduce rent control from a certain date onwards, but it’s a whole other proposition to retrospectively create laws that override previously agreed contractual arrangements.”
