RTRA Act Updates - September 2024

RTRA Act updates September 2024 : The implementation of the latest changes to the Residential Tenancies and Rooming Accommodation Act 2008 (QLD) (the RTRA Act), which governs residential tenancies in Queensland, is gearing up for its next phase on 30th September 2024.

These reforms, passed on 23rd May 2024, address various aspects of tenancy management, including bonds, bond claims, rent payment methods, general service charges, water consumption charges, and reletting costs.

As members of the REIQ, we stay fully informed of these changes, ensuring that both our landlords and tenants are protected under the new regulations. Our property managers have also completed training with the RTA, and I am confident that we are well-prepared for the upcoming rollout of changes.

The key changes taking effect from 30th September 2024 include:

• Lessors will need to provide to the tenant evidence to support a bond claim or dispute resolution request within 14 days of making the claim or request;
• The maximum bond limit thresholds will be removed and a maximum bond of four weeks rent will be applicable for every rental property regardless of the weekly rent amount;
• In some cases, when a tenancy is renewed, a tenant will be permitted to seek a bond refund if too much bond is held;
• Bills for service charges and water consumption charges will need to be provided to the tenant within four weeks of receipt from the relevant supply authority or otherwise, the tenant is not required to pay for the service charge or water consumption charge;
• If water consumption charges related to a partial billing period, the tenant is not required to pay for the charges unless the property manager calculates the water consumption in accordance with the RTRA Act; and
• If a tenant breaks lease, reletting costs will need to be calculated in accordance with a statutory formula