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Urgent Information for QLD Property Investors

To all owners of an investment property in Queensland, if you are not already aware of the Palaszczuk Government’s proposed Special COVID-19 Protections for residential tenants and landlords, we outline it for you here.

While we support the need for tenant protection during COVID-19 however, we are fundamentally opposed to some of the proposed measures.  You should be too!

As a landlord, you will ultimately foot the bill if the following proposals are introduced:

· 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 CANNOT 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 potentially exposes 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 relevant insurer for individual policy conditions)

· Your tenancy agreement WILL immediately extend by 6 months if it expires during the 6 month freeze on evictions.  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.  Not only can your tenant refuse access, they don’t have participate in virtual property inspections either.  There’s also no clarity as to whether prospective purchasers can inspect a property that is for sale.

· Your tenant/s can BREAK A LEASE with only 7 days’ notice.  To make matters worse, you cannot recover any lost rent or costs associated with finding a new tenant as would normally apply.

Now you understand how the Palaszczuk Government’s proposed Special COVID-19 Protections favour tenants at the expense of landlords.

Your urgent help is required before Parliament sits to pass these protections on Wednesday, 22 April 2020.  For our voices to be heard, complete your details in the landlord template letter to Premier Palaszczuk provided by heading to this website https://www.reiq.com/everyonematters/?utm_campaign=MessagefromAM-14April2020-ProtectQueensland&utm_medium=email&utm_source=autopilot and clicking on landlord template letter.  Once completed email this through to thepremier@premiers.qld.gov.au.

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