Last week the Queensland Government announced a proposed package of Covid-19 protections for the Queensland residential tenancies market to minimise unnecessary movements within the community.
A link to the statement can be found here:
The purpose of the proposed package is to lessen the hardship being faced by tenants in Queensland and encourage landlords and tenants to reach an agreement and, if they cannot, a compulsory conciliation will be required through the Residential Tenancies Authority (RTA).
The RTA will have clear guidelines for renters and landlords to follow.
Summary of Proposals
Notably for landlords, the majority of terms of insurance policies will not cover rent reductions if it is by mutual agreement between the landlord and the tenant. As such, landlords’ insurances may not cover them for the reduction in rental income.
The proposed legislative changes are very much in favour of tenants and landlords are seeking a more balanced approach by opposing many of the proposals. As such, there may be significant changes to the proposed package which is due to go to Parliament and be finalised on 22 April 2020.
We will provide a further update as and when new information comes to light.
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