The Queensland Government’s recent approval of the Residential Tenancies and Rooming Accommodation and Other Legislation Amendment Bill 2024 introduces key reforms aimed at enhancing transparency and fairness in the rental market. At Explore Property Munro & Co, we are excited to embrace these changes and the opportunities they present for our clients and the broader community.
The reforms include:
► Fair Rent Practices: No longer accepting offers from tenants to pay above the advertised rent or advance payments exceeding statutory limits.
► Rent Increase Regulations: Tying rent increases to the property with a mandatory 12-month interval, providing stability for tenants.
► Bond Restrictions: Capping bonds at four weeks’ rent, ensuring predictable and manageable bond requirements.
► Extended Notice Periods: Increasing entry notice periods from 24 to 48 hours.
► Prompt Water Billing: Requiring landlords to pass water invoices to tenants within four weeks of receipt.
► Enhanced Confidentiality: Strengthening confidentiality provisions to protect tenants experiencing domestic and family violence.
At Explore Property Munro & Co, we are committed to leading the way in implementing these reforms. Our team has attended multiple training events to thoroughly understand the new regulations, and we actively implement training in-house to ensure we provide the best service to our clients.
We are particularly enthusiastic about these changes as they align with our commitment to transparency and fairness.
Explore Property Munro & Co continually strives to keep all our homemakers and homeowners up to date with these changes, ensuring they are well-informed and prepared for the new rental landscape.
These reforms will strengthen the relationships between landlords, tenants, and property managers, fostering a more cooperative and positive rental experience for all. We are here to assist you every step of the way, ensuring a smooth transition and continued excellence in service.
For any questions or further information about how these reforms may affect you, please contact our dedicated team. We are excited to help our clients navigate this new chapter in rental regulations.
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