New Legislation Re Tenancies In Queensland Investment Properties
After 18 months of negotiations between industry groups representing real estate agents, landlords and tenants, new laws in the Residential Tenancies and Rooming Accommodation Act will take place on 1 July.
There will be new challenges for property managers and most definitely if you are a manager/landlord. The details are out now and your property manager should be getting training as to what to do and what not to do.
I would suggest you get in touch with your Property Manager and check to see if they are keeping up to date with the changes.
CHANGE OF TERMINATION NOTICE
One of the major changes affecting landlords is the fact that a landlord now has to give 2 months notice if they wish the property to be vacated at the end of a tenancy, whereas the tenant only has to give 2 weeks.
The problem that could arise here is that a landlord may give 2 months notice and on receiving that notice, a tenant may give 2 weeks’ notice. The situation then could arise of the property being unexpectedly vacant for up to 6 weeks. Landlords are going to need to be a lot more organised and up with what is happening so that they do not end up with vacancies in their properties.
12 MONTH LEASES
Not only that, it would mean that the tenants are only just settled in and talks have to start about moving. This is not very satisfactory and for this reason it could mean that 12 month leases will become more popular.
Filed Under: Property Investment • Property News
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