News Archive
24 June 2009
Residential Tenancies and Rooming Act 2008
The Residential Tenancies Act 1994 will be replaced by the Residential Tenancies and Rooming Act 2008 as of 1st July 2009. The following is a brief guide to some of the changes in the new legislation that affect residential property management in Queensland. This is a review of the key changes and amendments only.
Section 57 Premises must be offe...
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11 November 2008
First Home Buyers Relief!
The Qld Treasurer Andrew Fraser announced in the State Budget 08/09 tax reforms targeted primarily at first home buyers to help them enter the Qld Housing market. The first of these changes took effect 1 July 2008 and included the abolition of mortgage duty (savings of $0.25 per $100 borrowed) and the first home transfer duty concession increasing from $320,000 to $350,000 with no duty paya...
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24 September 2008
Affordability Initiatives Help First Home Buyers
This year's high interest rate environment put the brakes on the market, but with signs that interest rates are trending down, buyer activity is likely to gradually strengthen in coming months, according to the Real Estate Institute of Queensland (REIQ). And while housing affordability continues to be at historic lows, a number of housing affordability initiatives introduced this year may help fi...
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22 April 2008
New Legislation- Water Consumption Charges
Tenants can now be charged for full water consumption costs only where: - the rental premises are individually metered; - the rental premises are water efficient; - the tenancy agreement states the tenant must pay for water consumption. To be water efficient the premises must have the equivalent of a *3 star WELS rating or higher. That is: · &nbs...
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26 February 2008
Who Is Responsible for Yard Care?
In a rental property, tenants are responsible for maintaining the lawns and gardens on the premises. Consideration must be given to dry spells and types of plants grown as well as water restrictions in the area. Tenants are not responsible for the trimming of trees or shrubs- this care is the responsibility of the property owner.
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14 January 2008
Quick Market Review
Despite interest rates rises in the last 12 months, residential property prices in Australia continue to climb. Across the country, house prices increased by 11.97% and unit prices increased by 14.25%. City by City- it is a diverse mix, as below. Perth had the only decrease in house prices. Adelaide &...
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17 December 2007
Proposed Changes to RTA Legislation
Significant changes to the Residential Tenancies Act have been announced with the amendments due to become law later next year. 1. Lessors and Agents will have to advertise rental properties with a fixed price. Rent ranges, advertising without a price and “rent auctions” will be outlawed. 2. Rent increases can only occur with a minimum period of six ...
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16 November 2007
Can Tenants Break Lease If Property Is For Sale?
If tenants have a fixed term tenancy (where there is a start and end date), they cannot break their lease without penalty unless there are exceptional circumstances involved. Even then, an application should be made to the Small Claims Tribunal to terminate the tenancy on the grounds of excessive hardship. A tenant would not be permitted to vacate a fixed term tenancy early simply...
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17 October 2007
Can My Rent Be Increased During My Tenancy?
The simple answer is Yes but it depends on the type of Agreement you have and other factors. If you are on a fixed term agreement (eg 6 or 12 months) rent can only be increased if a special term is written into the agreement stating that it can be increased. The special term must also state the amount of the increase or how it will be worked out. Your Agent must provide one (1) months n...
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01 October 2007
RTA e-Services For Agents
The Residential Tenancies Authority (RTA) has recently launched e-Services making the management of rental bonds for Agents easier. Agents now have the facilities tos elf-manage bonds electronically saving time and phone calls to the RTA. The following facilities are now available to Agents on-line: e-Administration: to change business information such as bank account and contact details. e...
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