Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Queensland landlords, property managers go above and beyond

By Cameron Micallef
20 July 2020 | 1 minute read
property managers

The team Australia mantra has not been lost on Queensland landlords and property managers, with new research showing they have performed more than double the heavy lifting expected of them.

With over 1,200 REIQ property management member agencies surveyed throughout Queensland, the results show that only 6.05 per cent of residential rental tenants qualified as “COVID-19 impacted” under the state government’s COVID-19 Emergency Response Regulation

This represents approximately 3,950 renters from a state total in excess of 577,000 residential tenancies. 

Despite 3,950 tenants qualifying, over 10,800 tenants in Queensland have received rental assistance during the COVID-19 pandemic.

REIQ CEO Antonia Mercorella said industry data like this is vital to help understand the essential nature of the real estate sector during unique circumstances such as the COVID-19 pandemic and its role in supporting the broader Queensland economy. 

“The role our industry’s property managers have played throughout this pandemic is truly exemplary,” Ms Mercorella said. 

A tenancy is generally deemed to be “COVID-19 impacted” if a tenant is impacted by COVID-19 in certain ways and, in addition, the tenant has suffered a loss of income of 25 per cent or more, or the rent payable is 30 per cent or more of a person’s income. 

A majority of negotiations achieved a satisfactory outcome regarding temporary rent reductions, with fewer than 800 referred to the Residential Tenancies Authority for further conciliation.

The bulk of these temporary rent reduction reviews took place across Brisbane (37.2 per cent), Gold Coast (14.88 per cent), Sunshine Coast (12.09 per cent) and Cairns (6.51 per cent), with the majority of tenants requiring a rent reduction of up to $100 per week (69.3 per cent). 

A further 23.72 per cent of rental tenants have required a temporary rent reduction of up to $200, 5.12 per cent a reduction of up to $300, and 1.86 per cent a reduction of over $300 which represents just over 200 tenants.

Queensland landlords, property managers go above and beyond
property mortgage reb 1
lawyersweekly logo

ABOUT THE AUTHOR


Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings

 

Subscribe to our RPM
mailing list

 

Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.