Will the Palaszczuk Government’s Special COVID-19 protections for Residential Tenants protect you?

Act before 22 April 2020 to be heard! 

It is important if you are an owner of an investment property in Queensland that you understand the Palaszczuk Government's proposed Special COVID-19 Protections for residential tenants and landlords and the implications that may arise. 

• Your tenant/s will not have to pay back any rent. Put simply, a rent reduction negotiated with your tenant/s is a permanent rent waiver meaning you, as the landlord, will be out of pocket, with no means of recovering any unpaid rent in the future post COVID-19.
• You will not be able to ask your tenant/s for any proof of financial hardship. Your tenant/s can request reduced rent due to COVID-19 without any proof. This has the potential to expose you to false claims and exploitation of the proposed protections for those who genuinely need it.
• Your Landlord Insurance will NOT cover you for rent in arrears.  The normal terms of your policy won’t cover the rent reduction as this is a mutual agreement between you, as the landlord, and your tenant and you cannot follow the necessary rent default process as this is prohibited (please contact your insurer for individual policy conditions).
• Your tenancy agreement WILL immediately extend by 6 months if it expires during the 6-month freeze on evictions. This means that tenants will be automatically entitled to a 6-month extension of the tenancy agreement meaning any protections may last up to 12-months.
• Your tenant/s can REFUSE ENTRY for anything other than emergency repairs. Tenants also don’t have to participate in virtual property inspections.
• Your tenant/s can BREAK A LEASE with only 7 days’ notice.

For more information please visit the REIQ website. If you want to voice your opinion, click here follow the link to complete your details in the landlord template letter. 

The Money Edge | Bundaberg