PHOTO: FILE
Queensland is set to undergo a significant overhaul of its rental laws, joining other states in prohibiting rental bidding as the housing crisis intensifies across Australia. Rental bidding, the contentious practice where property owners or agents invite offers exceeding the advertised rent, will be completely banned in Queensland, according to a statement by Premier Steven Miles on social media.
Miles emphasized the need for a fair and level playing field for renters, stating that the government is actively working on a new code of conduct to curb questionable behavior by real estate agents. This initiative is part of a broader $160 million renter relief package introduced by the Queensland government to address the housing crisis.
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As part of the proposed changes, the government plans to eliminate the “unfair” practice of rental bidding and introduce bridging loans for rental bonds. The Renters Relief Package also includes the option for bonds to be transferred between rental properties. Furthermore, the government is considering the implementation of a rental sector Code of Conduct to crack down on unprofessional practices and enhance protections for renters.
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Rental bidding has already been banned in most states and territories, with Queensland following suit to strengthen tenant rights. The move aligns with efforts across the country to address the dual challenges of housing affordability and a rental crisis, characterized by record low capital city vacancy rates and rent increases of up to 50%. In light of this, the Queensland government is taking comprehensive measures to create a fair and secure rental environment for its residents.