September 2nd, 2024
10 signs you’re a top tier Property Manager
Property Management
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Industry legislation and requirements are everchanging to account for the developing nature of the property market and renter behaviour. These changes are necessary to ensure the industry is fair and just, however, it can be difficult to ensure you’re up to date with everything. From fake news on social media to complicated documents on official web pages, the breadth of information can feel overwhelming and downright confusing. That’s where we come in, to decipher the recent legislation changes in Queensland. Keep reading to digest the latest changes, and how they’ll affect your practices.
6 June 2024 laws
1. Rental increase frequency laws
In June, the RTA stated that rent on a property can only be increased once in a 12-month period. This 12-month period still applies if a Property Manager, Owner or Tenant changes during this time.
How will this affect me?
Under the new rental increase frequency law, if a tenant asks for evidence of the last rental increase date it’s encouraged that you provide this info. If you do not comply with the new rental increase frequency laws you could be charged a maximum of 50 penalty units.
Did you know we have a rent adjustment tracker to ensure you’re complying? Take a look here.
2. Advance rental payments law
The second law dictates new guidelines for paying rent in advance. A Property Manager or Owner must not ask for or accept rent in advance from a Tenant. For a fixed-term tenancy agreement more than a month’s rent cannot be requested, and for a periodic tenancy more than two weeks rent cannot be requested.
How will this affect me?
Your practices should not differ greatly if you are already compliant. If you do not comply with the new laws you could be charged a maximum of 50 penalty units.
3. Bond collection law
Lastly, the third change relates to bond collection. Head Tenants or Owners who are renting less than three bedrooms in a property they also live in are required to lodge bonds with the RTA if one is taken. If an Owner or Property Manager takes a bond from a Tenant, they must lodge it to the RTA within 10 days.
How will this affect me?
Your practices should not differ greatly if you are already compliant with bond procedures. If you do not comply with the new laws you could be charged a maximum of 40 penalty units.
30 September 2024 laws
1. Rent payments law
In September it was announced that Property Managers and Owners must offer Tenants two accessible options to pay their rent. One of the two options must not have unreasonable fees attached. So what’s considered unreasonable fees? Any fees charged by a third-party rent platform. Our payment platform, MePay is compliant as it has fee-free payments, check it out here.
How will this affect me?
Property Managers need to provide a written notice outlining any costs that may be incurred by using the payment methods their office offers. If you do not comply with the new laws you could be charged with a maximum of 40 penalty units.
2. Bond evidence laws
From 30 September 2024, Property Managers must provide supporting evidence when disputing a bond refund. This must be done within 14 days of the dispute being lodged. If the tenant is impaired and is under guardianship or POA the evidence must be provided to their representative.
How will this affect me?
As a Property Manager disputing a claim, you must provide evidence within 14 days, to the Tenant (or their legal representative), not the RTA. If you do not comply with the new laws you could be charged a maximum of 20 penalty points.
3. False or misleading document amendments
Amendments have been made to any cases of false or misleading documents being provided to the RTA. If you provide false or misleading information in any form of written communication, including online forms you can receive a penalty.
How will this affect me?
If you’re currently conducting compliant and fair practices you will not need to make any changes. If you do not comply with the new laws you could be charged a maximum of 20 penalty points.
1 May 2025 laws
1. Applicant process laws
From 1 May 2025 Property Managers and Owners must use an application form developed by the RTA. Third-party platforms can still be used to submit applications, however, tenants must be provided with two options, one of which must not be a third-party platform.
How will this affect me?
This will not affect your practices until 1 May 2025 when the RTA developed form is provided. If you do not comply with this new law you could be charged a maximum of 20 penalty points.
2. Rules of entry laws
There will be a new timeframe outlined for entering a rental property, which will be 48 hours. In terms of Notice to leave, the Property Manager will not be permitted to enter the property more than twice during a seven-day period.
How will this affect me?
This requires a slight change in practices, however, a Property Manager can enter the property more than twice (during the seven-day period) if the Tenant has a mutual agreement, to comply with the Fire Services Act 1990, Electrical Safety Act 2022 or if it’s deemed necessary to protect the premises from damage.
3. Process for structural changes approval
Tenants will be required to use an approved form to request permission from their Property Manager to attach fixtures or make structural changes. The Property Manager must then respond within 28 days, and must not act unreasonably in their response.
How will this affect me?
Property Managers will need to respond to the request in writing, ensuring this is trackable. An RTA form is not needed, but the written response needs to be clear and comprehensible.
We hope this breakdown has helped to make the QLD legislation more digestible, for more information please visit the RTA here.
Disclaimer: This guide is intended for informational purposes only and should not be construed as professional advice. For specific advice, consult with a legal professional.
