How much more rental reform can Queensland Cop

The REIQ expresses concerns about the Albanese Government’s recent announcement to develop a plan for nationwide strengthening of renters’ rights, viewing it as another blow to property investor confidence in Queensland. The lack of details in the announcement raises worries that the government has succumbed to pressure from the Greens and may further hinder property investment in the state.

REIQ CEO Antonia Mercorella finds it illogical to introduce nationwide rental reforms while Queensland is already grappling with extensive stage one rental reforms implemented last October, with phase two rental reforms currently being consulted. She highlights that the state has already undergone numerous rental reforms to enhance tenant rights.

The constant barrage of rental legislative changes, including the recent implementation of rent control measures, has a cumulative impact that should be considered.

Mercorella emphasises the need to strike a balance and avoid tipping the scales too far in favour of either party. Adequate tenant protections should be provided while ensuring that investors remain active in the Queensland rental market.

While recognising the importance of housing supply planning on the national agenda, Mercorella questions the Federal Government’s intentions in proposing to control rental law reforms across Australia. She points out that most jurisdictions have already enacted significant rental law reforms, making national uniformity complex due to varying legislation and regional differences. Each state has unique circumstances and rental market dynamics, necessitating tailored approaches.

With its higher rental population compared to the national average, Queensland relies heavily on private investors to provide housing for renters. The unique nuances and recent history of rental legislation should be considered, considering that what works in one state or market may not be suitable for another.

In summary, the REIQ raises concerns about the impact of nationwide rental reforms on property investor confidence in Queensland, emphasising the need for balance and tailored approaches to tenancy legislation. While recognising the importance of housing supply planning, the complex nature of achieving national uniformity in rental laws is highlighted, along with the unique reliance on private investors in Queensland’s rental market.