Renting consultation casts a spotlight on billion dollar bond industry

Published: Comments:
Law & Safety Lifestyle Property & Real Estate Queensland Government Surveys & Your Say

Social:   

The Palaszczuk Government’s Open Doors to Renting Reform consultation is casting a spotlight on Queensland’s multi-million dollar bond industry in its final week before submissions close.

Minister for Housing and Public Works Mick de Brenni said the overwhelming response to the consultation to date reflects the importance of fair and reasonable renting laws for Queenslanders.

“The Palaszczuk Government made a commitment to provide safe, secure and sustainable homes for Queenslanders.

“We’ve unlocked $2 billion to build social and affordable housing alone, but outdated rental laws also need reviewing too,” Mr de Brenni said.

“To date we have had over 65,000 responses comprised of 16,103 online surveys, 248 written submissions and 50,070 responses to our quick polls,” said Mr de Brenni.

“We want to hear from the community about how we can streamline the mechanics of renting, from the applications process to rent payments and bonds – refunds, payments and disputes.

Residential Tenancies Authority Chief Executive Officer Jennifer Smith said managing rental bonds remains an important function to ensure renting is fair for everyone, especially with a growing number of Queenslanders renting their homes.

“Almost two-thirds of bond refunds are agreed to by both parties with less than six per cent of all bond refunds resulting in a dispute case,” said Ms Smith.

“The Residential Tenancies Authority (RTA) fielded more than 28,000 dispute requests in the last financial year which mostly related to bonds. Through our free conciliation service, we were able to resolve 73 per cent of disputes when both parties volunteered to participate.”

Minister de Brenni visited the RTA call centre yesterday where bonds are lodged and bond dispute advice given.

“The Residential Tenancies Authority currently holds 613,386 bonds with a value of $869.9 million.

“Last financial year alone there were 272,939 new bond lodgements with the RTA valued at more than $405 million,” he said.

“Last year 50 per cent of tenants saw their bond refunded in full, whilst 22 per cent were handed over to property owners to cover outstanding costs, and a further 28 per cent bonds were only partially refunded.”

Minister de Brenni said that bonds were one of the main issues raised in the Palaszczuk Government’s renting consultation.

“Bonds have been a key issue raised throughout this 9 week consultation, with many property owners feeling that bonds do not cover the cost of damages,” he said.

“Renters are also disgruntled that bonds were being withheld based on unfair claims, many of whom have contacted the RTA for advice.”

The Open Doors to Renting Reform consultation closes on 30 November. The website, survey and information on consultation events can be found at: www.yoursayhpw.engagementhq.com/RentingInQLD

Queenslanders can email rentinginqld@hpw.qld.gov.au or share their thoughts on social media using the hashtag #rentinginqld.

Minister for Housing and Public Works, Minister for Digital Technology and Minister for Sport
The Honourable Mick de Brenni

 
Department of Housing and Public Works : Queensland Government :
GPO Box 2457, Brisbane QLD 4001, Queensland Wide
13 74 68
Department of Housing and Public Works : Queensland Government
Showing 10+ recent articles for this business
IONIQ puts QFleet on track to zero emissions 17 December 2018 | Queensland's drive towards a cleaner, greener future is powering ahead with the addition of the first new generation electric vehicle to the government’s QFleet managed fleet. More information...
Landmark energy partnership delivers savings and sustainability 13 December 2018 | Buy Queensland has resulted in another successful procurement outcome, with the Palaszczuk Government negotiating a long-term energy contract that will deliver price stability to frontline government services and... More information...
Dignity First Fund delivers crisis transport ute to Sunshine Coast 13 December 2018 | A dual cab ute with an aluminium tray to transport people in crisis will soon be operating on the Sunshine Coast off the back of $42,937 in funding through the Palaszczuk Government’s $2.5 million Dignity First... More information...
Dignity First delivers job opportunities for Wide Bay at-need 13 December 2018 | An upgrade of the Comfort Kitchen at the Wandering Teapot will provide job opportunities for young people across the Wide Bay region off the back of $195,000 in funding through the Palaszczuk Government’s $2.5... More information...
$1 million in upgrades transforms Cherbourg women’s shelter 06 December 2018 | The establishment of a new shelter in Cherbourg will better protect women and children in the community who are experiencing domestic and family violence. More information...
Victorians’ vote on rental reform a good guide for Queensland 06 December 2018 | After a 9-week consultation into the current rental laws in Queensland, the Palaszczuk Government has received a record breaking 130,000 responses from Queenslanders wanting to see change. More information...
New financial reporting to help protect building industry jobs 29 November 2018 | Queenslanders working in the building and construction sector will soon have greater protection from the devastating impact of company collapses. More information...
Renting consultation casts a spotlight on billion dollar bond industry 28 November 2018 | The Palaszczuk Government’s Open Doors to Renting Reform consultation is casting a spotlight on Queensland’s multi-million dollar bond industry in its final week before submissions close. More information...
$2b housing scheme to grow community sector 22 November 2018 | A new Palaszczuk Government initiative that unlocks $2 billion worth of equity will provide more social and affordable housing for Queenslanders. More information...
Palaszczuk Government commits dollars and cents for ‘Dollars and Sense’ 14 November 2018 | The Palaszczuk Government has announced a tenancy skills training package that will help around 17,000 Queenslanders struggling to secure a home in the state's tightening private rental market. More information...



Social:   
comments powered by Disqus

All articles submitted by third parties or written by My Sunshine Coast come under our Disclaimer / Terms of Service