THE REIQ is urging the State Government to stop the legislative attack against rental providers, that would do more harm than good for both lessors and tenants amid the rental crisis.
The Government released its Stage 2 Rental Law Reforms Options Paper last month with community consultation closing last week.
In its response, the REIQ said although we are prepared to support some of the proposed measures later and with further consultation, we consider the timing and nature of these reforms to be inappropriate and extremely dangerous given the current unprecedented rental crisis and limited housing supply.
REIQ CEO Antonia Mercorella said Queensland’s rental housing supply has considerably diminished, and whilst the reasons for this are varied, it is evident that legislative reform has had a material impact.
“Over the past three years, legislative reform has been exclusively focused on tenant rights and protections.
“Meanwhile, lessor rights have been diminished, decision making powers have been removed or limited and contractual relations have been overridden.
“As shown by a recent Property Investor Survey conducted by the REIQ, lessors are concerned by the ongoing erosion of their contractual and statutory rights and they are, in the majority of cases, opposed to Stage 2 rental reforms.”
She said the State Government must consider that private lessors provide around 95% of rental housing in Queensland.
“While these properties provide homes for tenants, they are ultimately assets owned by lessors, with associated financial, legal and statutory responsibilities and risks,” Ms Mercorella said.