The Real Estate Institute of Queensland (REIQ) opposed proposed rent reforms that would cap rent increases and remove "evictions without cause", saying these could potentially pull investors away from the city. # 39; State.
The Queensland Green Party recently introduced a Private Member's Bill to Parliament, which outlines changes to residential tenancy laws. Antonia Mercorella, CEO of REIQ, said the proposed reforms would impact the state's investment landscape.
"It is totally unrealistic to expect lessors to continue investing in Queensland real estate if they are faced with untenable arrangements that do not allow them to protecting the value of their assets and depriving them of their fundamental decision-making powers and rights, "Mercorella said.
Mercorella said it was essential for the state to continue to attract real estate investors to improve rental supply, keep pace with demand and maintain accessibility rents.
"What we need are additional incentives to better support both the growth and continuation of real estate investor activity in the Queensland real estate market and the contributions that ; they contribute to the state economy, "she said.
Here are some changes proposed in the bill:
Rent cap rises to once every two years and no more than the CPI annually
Removal of "evictions without cause" to prevent landlords from having the right to end a fixed-term tenancy at the end of the agreed term
Restrict the rights of landlords to terminate the tenancy
Prohibit rental auctions
Allow tenants to make changes to the rental property without the permission of the lessor.
Mercorella said one of the most concerning proposals was about rental caps. She said that might not bode well given the high interstate migration to Queensland.
"Introduce rental caps and there will be even less inventory on hand as this significantly reduces the incentive to provide future rental housing. The ripple effect will have a greater impact on tenants, ”she said.
Greens MP Amy McMahon said it was time to introduce reforms that would support not only investors, but families and tenants as well. McMahon said the reforms would help ease the pressure on prices, making the market more accessible to everyone.
"This bill is a crucial step in ensuring that every inhabitant of Queensland has a roof over their head. Renters are facing record vacancy rates, there is hardly any no affordable properties and rents are rising three times faster than wages, ”she said.
Top suburbs:
revesby hts
,
Collingwood
,
Whyalla
,
Torrensville
,
campsie
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in real estate, it is important to ensure that you not only have the lowest available rate possible, but also have the right loan features for your needs. needs.
You only need to fill in a few details below and we will then arrange for a local mortgage broker to contact you and determine the characteristics or types of loans that suit your needs. We'll even help you with the paperwork. In addition, an appointment is free.
We value your privacy and take all your information seriously – you can check
our privacy policy here
