New Queensland Rent Increase Legislation Limits Rent Increases to Once Every 12 Months
The Queensland Government has introduced new legislation that limits rent increases to once every 12 months. The legislation came into effect on 1 July 2023 and applies to all new and existing tenancies.
Under the previous legislation, landlords could increase rent more frequently, but the new legislation is designed to provide more stability for renters. It will also help to address the rising cost of living in Queensland.
The new legislation also includes a number of other changes, such as:
- The requirement for landlords to provide tenants with a written rent increase notice at least two months before the increase takes effect. This gives tenants time to prepare for the rent increase and to challenge it if they believe it is unfair.
- The cap on the amount of rent that can be increased in a 12-month period. The cap is set at the Consumer Price Index (CPI) plus 2%. This means that landlords can only increase rent by the rate of inflation plus 2% each year.
- The requirement for landlords to justify any rent increase to the tenant. This means that landlords need to be able to provide evidence that the rent increase is fair and reasonable. For example, they may need to provide evidence of the cost of maintaining the property or the cost of comparable properties in the area.
The new legislation is a welcome change for renters in Queensland. It will provide more stability and certainty, and help to make renting more affordable.
What does this mean for landlords?
Landlords will still be able to increase rent, but they will need to do so once every 12 months. They will also need to provide tenants with a written rent increase notice at least two months before the increase takes effect. If they do not do this, the rent increase may be invalid.
Landlords will also need to justify any rent increase to the tenant. This means providing evidence that the increase is fair and reasonable. For example, they may need to provide evidence of the cost of maintaining the property or the cost of comparable properties in the area.
If a landlord does not comply with the new legislation, they may be liable to a fine of up to $10,000.
What does this mean for tenants?
Tenants will benefit from the new legislation in a number of ways. First, it will provide more stability and certainty. Tenants will no longer have to worry about their rent being increased every few months.
Second, the new legislation will help to make renting more affordable. The cap on rent increases will ensure that tenants are not hit with excessive rent hikes.
Third, the requirement for landlords to justify any rent increase will give tenants more power to challenge unfair rent increases.
Despite these shortcomings, the new legislation is a step in the right direction. It will help to make renting more affordable and accessible for Queenslanders.
Here are some additional thoughts on the new legislation:
- The legislation is a good example of the Queensland Government taking action to address the rising cost of living.
- The legislation is also a good example of the Queensland Government working with stakeholders to develop legislation that is fair to both landlords and tenants.
- The legislation is a positive development for renters in Queensland, but it is important to continue to advocate for more affordable housing.
Overall, the new Queensland rent increase legislation is a positive development for renters. It will provide more stability, certainty, and affordability.
