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    Coat of ArmsMedia Release
    Minister for Housing and Public Works, Minister for Digital Technology and Minister for Sport
    The Honourable Mick de Brenni

    Renting consultation casts a spotlight on billion dollar bond industry

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

    Wednesday, November 28, 2018

    Renting consultation casts a spotlight on billion dollar bond industry

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    “We’ve unlocked $2 billion to build social and affordable housing alone, but outdated rental laws also need reviewing too,” Mr de Brenni said.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

    Media contact: Rosie Gilbert – 0466 834 330 (Photos available)