D-Day for coronavirus emergency rent law

first_imgShe said while renters might have had security of tenure because of the moratorium on evictions, in the end if landlords suffered severely, they would have been forced to sell off properties, perhaps at a loss.More from newsCOVID-19 renovation boom: How much Aussies are spending to give their houses a facelift during the pandemic3 days agoWhizzkid buys almost one property a month during COVID-197 days ago“We all know that most investors are mum and dads who are building their wealth for retirement, and renters will have resentment as although they have security now (the eviction freeze) they may lose their place of living down the track and need to find a new one – and it could be a downgrade or something less suitable or involves uprooting their family.”The changes were also welcomed by owners in Queensland strata communities, but await the finer details.Archers the Strata Professionals chief executive Nicky Lonergan said the company supported REIQ lobbying the government over the initial package which had favoured tenants heavily over landlords.“We are pleased the Government has reconsidered its initial position and agreed to change the proposed legislation on the COVID-19 rental relief package which is scheduled to go before state parliament this week,” Mrs Lonergan said. Renters and landlords all across the state will be impacted by the amendments.“We were overwhelmed by the response we received from property owners about how unfair they thought the proposed measures were on landlords. Some believed it could have opened the floodgates for mortgage default and unchecked tenant hardship claims.”“But the Housing Minister Mick de Brenni has listened to the thousands of complaints the Government received via the REIQ public campaign and we believe the changes will achieve a fairer outcome and a way forward.”Among measures welcomed were moved to have tenants “prove financial hardship if seeking rent relief and the Government to provide clear guidance to ensure access for essential repairs and maintenance, the sale of a property and virtual inspections”.”We await the finer detail and the outcomes from parliament, but the lesson from this is we all need to work together in these challenging times. No one wants to see tenants thrown out on the streets, but we also don’t want landlords being under massive financial stress.” FOLLOW SOPHIE FOSTER ON FACEBOOK QLD backs down on emergency laws with renters to pay own way The amendments to the Residential Tenancies and Rooming Accommodation Act were not on the notice paper for today’s sitting, causing concern in some quarters, but it’s understood it will be tabled in the morning. Qld Premier Annastacia Palaszczuk among ministers addressing the media at the Speaker’s Green in Queensland’s Parliament House. Picture: Liam Kidston.The Real Estate Institute of Queensland, which orchestrated a major campaign to change the original pro-tenant measures proposed by the government last week, is understood to be content with amendments made since then.An REIQ spokesman has confirmed that the peak body has seen the draft amendments, and was content with the changes that were achieved in negotiation with the government.While the amendment does not appear on the current Queensland parliament notice paper, it’s understood that it will be introduced to parliament in the morning with the intention of having it passed the same day. RTA figures show close to a third of rental bonds were held in Brisbane.Data from the Residential Tenancies Authority showed that the number of rental bonds in Queensland on March 31 this year sat at 604,431.PRD Nationwide chief economist Dr Diaswati Mardiasmo said that was potentially the number of landlords that might have been negatively impacted by the proposed rental laws if they had been left unchecked.She said “without investment properties – where will the 600,000 (or roughly 500,000 if just houses and units) renters go after the eviction freeze period is served or finished?”“Even if only 10 per cent of landlords can no longer keep their properties – that means roughly 50,000 renters looking for a new place.”Dr Mardiasmo welcomed the backdown by the Queensland government on the original amendments. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 Queensland Premier Annastacia Palaszczuk’s government liaised with stakeholders to create fresh amendments that were expected to be tabled in parliament today.The fate of over 600,000 landlords and significantly more renters will go before QLD’s parliament today, with the tabling of the Palaszczuk government’s emergency amendments to ensure tenants are not ‘thrown out on the streets’ during COVID19. MORE: Original QLD proposal: Tenants set to gain all the powerlast_img read more