The Queensland government is warning landlords not to increase rents in the next six months, as the state grapples with a rental crisis.
Under the proposed law, landlords would be prohibited from increasing rents by more than 2.5% in the six months to December 31, 2023. This would be the first time in Queensland’s history that rents have been frozen.
The government says the freeze is necessary to protect tenants from being priced out of their homes. Rents in Queensland have been rising rapidly in recent years, and the average rent for a three-bedroom house in Brisbane is now over $500 per week.
The freeze would apply to all new leases and rent increases, including for periodic leases. Landlords who breach the law could face fines of up to $10,000.
The proposed law is currently under consultation, and the government is expected to make a decision on whether to introduce it in the coming weeks.
The rent freeze has been welcomed by tenant advocates, who say it is a necessary measure to protect tenants from being priced out of their homes. However, some landlords have expressed concerns about the freeze, saying it will make it difficult for them to cover their costs.
It remains to be seen whether the rent freeze will be enough to cool the rental market in Queensland. However, it is a significant step by the government to address the state’s housing affordability crisis.
Here are some additional details about the proposed rent freeze:
- The freeze would apply to all residential properties in Queensland, including houses, apartments, and townhouses.
- The freeze would not apply to commercial properties or properties that are being rented for the first time.
- Landlords who breach the law could face fines of up to $10,000.
- The government is currently consulting with stakeholders on the proposed rent freeze. The government is expected to make a decision on whether to introduce the freeze in the coming weeks.
The rent freeze is a significant step by the Queensland government to address the state’s housing affordability crisis. It remains to be seen whether the freeze will be enough to cool the rental market, but it is a welcome measure for tenants who are struggling to afford rent.