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An innovative Queensland electronic lease lodgement capability is ready to be rolled out, but will require interoperability reform from the state government to operate at scale.
Property settlement provider Sympli has completed development of its Queensland electronic lease lodgement capability, but has called for full interoperability reform to roll it out.
Sympli, an electronic lodgement network operator (ELNO), said a nationally endorsed reform to allow parties using different ELNOs to complete the same transaction had been paused and delayed.
Since 20 February 2023, Queensland has mandated eConveyancing for certain property transactions, with Sympli and Property Exchange Australia (PEXA) being confirmed as the two approved ELNOs.
Since then, Titles Queensland has continued to expand the scope of instruments available for digital lodgement, including leases.
Sympli said that recent changes were introduced to make lease registration compatible with eConveyancing and to prepare for the launch of electronic leasing as soon as ELNOs can transact interoperably.
However, despite industry progress, the Australian Registrars' National Electronic Conveyancing Council paused the interoperability design-build-test workstreams in June 2024.
Sympli said the regulators only began considering next steps earlier this year, citing unresolved issues raised by banks, which have impeded competition and the delivery of consumer benefits.
Sympli CEO Philip Joyce said practitioners and businesses wanted the speed and certainty of digital leasing, but until interoperability was delivered, many would have to rely on the monopoly network.
“In this case, the monopoly is behind the eight ball and has yet to deliver this feature for industry,” he said.
He said interoperability was the cornerstone of a safe, competitive eConveyancing system, and had been endorsed by ministers and trialled by regulators.
“The remaining barriers are regulatory and program delivery choices – not technology readiness. It’s time to move from reviews to release,” he concluded.
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