VERY IMPORTANT MESSAGE TO ALL INVESTORS

Good day to you

As you know I am a passionate lover of all things real estate and an advocate of all things fair and just. I write this article in the hope property owners will take some sort of action and create a voice as an investor and disagree to the proprosed rental reforms outlined below.

I wish to advise you about the recent rental reforms proposed by the Minister for Housing and Public Works, Mick de Brenni on the 16 November 2019, which if passed will impact you and your rights as a property owner.

The Minister’s proposed reforms go too far and will see you lose control of your asset and fundamental decision-making rights.

The key issues of importance that will impact you are outlined below:

Ending tenancies – this reform will strip you of your right to NOT renew a tenancy agreement at the end of an agreed term. Current laws do not permit you to end a tenancy during a fixed term without grounds, so there is no need for this limitation. This reform will allow a tenant to remain in a tenancy indefinitely and for as long as the tenant wants, unless you can establish a ground prescribed by law. Allowing a tenant to ‘stay for life’ erodes your right as an owner to determine who you wish to rent your property to and for what term.

Minimum Housing Standards - this imposes obligations on you to meet required minimum standards despite the shape, size or age of your property. It’s unclear what the scope and limits of these standards will be and the cost to you could be in the tens of thousands of dollars.

Pets – this proposed reform will require you to say yes to pets unless you can obtain an order from QCAT. In addition, the proposed ‘pet bond’ being promoted by the Minister is not, in fact, a pet bond. The ‘bond’ is merely a sum of money (approximately $150) that is set aside for professional pest control at the end of the tenancy if fumigation is required. Importantly, the proposed ‘pet bond’ does not cover damage to the property caused by having pets of any type (breed, kind) or size on the premises.

Modifications – this proposed reform will allow tenants to make modifications and changes to your property, without consent in some instances, and will reduce the level of control you have over modifications that a tenant wishes to make to suit their personal needs and preferences.

Overall, the proposed reforms will create increased risk and costs for you and erode your fundamental rights to protect your asset. As you know, I am a member of the REIQ who are campaigning against the proposed reforms and welcome any support possible.

I plead with you to please take a moment and provide your support, I realise it might take a couple of minutes out of your day but the above issues are really important and simply CAN NOT be granted.

Visit www.rentalreforms.com.au - click on PROPERTY OWNER - click on - EMAIL THE PREMIER

thank you !

KAREN STEHR

PRINCIPAL - KAREN STEHR PROPERTY