Investors seeking more stable returns may be able to look to government tenants under new state-enforced changes.
All new Queensland public housing tenants will be required to sign fixed-term lease agreements under new reforms, according to housing and public works minister Bruce Flegg.
The changes were introduced on July 1 for all new tenancies and will fix leases for periods of three years.
“This is about reinforcing the message that social housing is not an entitlement for life and to ensure that it continues to be allocated to those most in need,” Mr Flegg said.
“We will continue to regularly review a household’s eligibility and housing entitlements during the tenancy.”
The expansion of fixed term tenancies will also be looked at in the future, with a possibility of extending five year leases to elderly or long-term tenants, and restricting single-year leases to disruptive tenants.
“At the end of each agreement, a tenant’s eligibility for social housing will be reviewed,” he said.
“They will be either offered a new fixed-term lease or assisted to transition to the private rental market if their circumstances indicate public housing is no longer needed.”
Other reforms being considered including changing rent policy from income-based to market-related, reducing administrative and maintenance costs and improving the perception of social housing.
Creating a stronger role for non-government housing providers has also been listed as a potential modification to existing policy.