The Queensland parliament has handed laws the Palaszczuk authorities hopes will put the brakes on rising rents as weekly prices proceed to soar.
Rent rises will now be restricted to only yearly from each six months in what the federal government guarantees will “give a fairer go to Queensland renters”.
The majority of different Australian jurisdictions have comparable limits on how typically a landlord can elevate rents within the houses they lease.
Brisbane home rents have risen by 11.6 per cent previously 12 months to take a seat at a median $530 per week, whereas models rose 10 per cent to $440 per week, outranking each different capital metropolis, in keeping with PropTrack.
It’s an analogous story outdoors of Brisbane, with rents in regional areas rising by 10.6 per cent to achieve $520 per week.
Deputy Premier Steven Miles says the federal government is “supporting renters” with the transfer.
“The majority of landlords do the right thing, but taking immediate action will protect Queensland renters from landlords who aren’t operating fairly,” he mentioned.
The adjustments to laws have been welcomed by rental advocacy organisations after they have been first proposed, however the authorities has been urged to do extra as a tightening market causes rents to proceed to extend.
“I don’t think it goes far enough. Simply limiting the frequency of rises won’t abate the price gouging behaviour in parts of the market,” Tenants Queensland chief government Penny Carr mentioned in March.
The laws additionally doesn’t restrict how a lot a landlord can improve a tenants hire by, simply the frequency, in keeping with Q Shelter government director Fiona Caniglia.
“While the increasing costs of mortgages are impacting property investors, tenants are being pushed to the brink of homelessness by the scale of rent increases that can occur,” she mentioned.
Source: www.perthnow.com.au
