REPORT INTO RENTAL BIDDING RELEASED

Public Works, Housing and Information and Communication Technology Minister, Robert Schwarten, today released the Residential Tenancies Authority (RTA) report into rent bidding in Queensland.

Minister Schwarten said the he asked the RTA to commission the research in December 2006 because of reports about practices that were emerging leading tenants to paying more than the advertised rent.

“Research shows that most rental properties are being let at the advertised price, but there are reports of rental applicants being asked to pay more than the advertised price.

“I want properties to be advertised at a fixed price. It is quite simple. If a landlord wants a certain return on their property they should advertise accordingly and not try to get more by other dubious means.

“The law is very clear that real estate agents or lessors (landlords) should not mislead or deceive consumers”, said Minister Schwarten.

The RTA strongly advises all agents and lessors (landlords) to be aware of their responsibilities when advertising properties, as strong penalties may apply.

Examples of misleading or deceptive conduct could be:

• Advertising a property at an unrealistic price and then asking applicants to offer more.
• Telling an applicant that another applicant had offered a higher rent when this was untrue.
• Advertising a rent range that is clearly unrealistic.

If people have concerns about conduct that may be deceptive or misleading, you can contact either the Office of Fair Trading if the person is a real estate agent, or the Australian Competition and Consumer Commission if the person is a lessor (landlord).

Copies of the Rental Bidding report are available at www.rta.qld.gov.au or by calling 1300 366 311.

Media Contacts: 07 32371184