In this blog we unpack holiday letting in QLD - discussing the relavent laws and all you need to know for Airbnb, Booking.com, Stayz etc.

This video/blog is great for anyone interested in QLD property. In particular, we explore what you need to know about engaging a rental manager for Airbnb/short term stays, including self management!

Prefer to watch/listen? Click here to consume this content via YouTube!

Hi everybody - George Sourris, Empire Legal.

Today's topic: Managing a holiday home in QLD (Airbnb etc)

Hey ladies and gentlemen, today's topic is something we all love. Holidays. Specifically, we're going to talk about holiday homes and the laws around managing them. 

Engaging a rental manager. 

So you've just bought your dream property - an apartment at Broadbeach, and you want to rent it out to make some extra money and help pay down your mortgage.

You look at your options. Well, you could put it in the holiday rental pool, you could put a tenant in on a 6 or a 12 month term, or you could put it on Airbnb.

You remember that you have a friend that says they can help with Airbnb rentals, so you make contact with them.  They say, yeah, of course they can help and launch the property, not only on Airbnb, but also on Booking.com and Stayz.

 Now, this is no problem at all, providing your friend is licenced.

Anyone who lets or negotiates the letting of a property for others for payment requires a licence as per section 26 of the Property Occupations Act (POA). The same license is also required to collect rent on behalf of others, AKA landlords.

Acting without a license is illegal. Strict laws have been created to protect both landlords and tenants from financial losses and unnecessary suffering, by creating a framework via licensing. The process of obtaining the necessary permits prevents incompetent or unfit people from being allowed to act on behalf of landlords as their agents or rental manager.

This process includes suitability checks and professional training, all governed by the Office of Fair Trading. 

A landlord that has engaged a licenced agent will be protected, as the real estate will have a trust account as well as access in certain circumstances to a claim fund in the event they suffer financial losses.

In the past 12 months, the Office of Fair Trading has taken court action against individuals who provide letting services and collect rent on behalf of landlords without holding the appropriate licenses.

One such example occurred in the Gold Coast where a woman was acting as a property agent without a licence. This amounted in an $1,800 fine at the Southport Magistrates Court. There is another active matter where, allegedly, a woman has 16 Queensland properties listed for rent, and she does not hold a valid real estate licence. When queried, she stated that she believed a licence was not required.

She is wrong. Property licences are valid for either 1 or 3 years. For a 1 year licence, it costs $1,600, and for a 3 year licence, the fee is $3,000. 

You will not be allowed to get a residential letting licence if:

1.  you're insolvent under administration,

2. if you're currently disqualified from holding a licence or registration certificate; or

3. you've been convicted of a serious offence in the last 5 years.

Note - you can also do an online search of the register to confirm that a real estate agent holds a current valid licence. You can search via the individual's name, company name, or license number, and the search will also reveal the date of the license expiry. 

Okay, so George, can I rent out my own property?

Yes, of course you can.

Self management of a property does not require a licence.

It's only if you are looking to rent out someone else's property where you require licensing. So, these types of short term accommodation options are becoming increasingly popular, allowing the flexibility for the owvner of a lot to block out periods of time where they can use the property themselves and rent it out the rest of the time to earn some money.

So, if you're unsure about anything short term accommodation related, I encourage you to contact the Office of Fair Trading. 

What are your thoughts on needing a licence to operate short term accommodation on behalf of others?

Please leave a comment below.  

Now, last week guys, we had 19 new people subscribe, and over 886 people watching our YouTube content.

I just wanted to say a heartfelt thank you to everybody. You're really helping us get a broader reach so we can help more people.

Our goal is to get to 50% subscribe rate for our viewers on YouTube. We're currently not even at 10%.

So if you learnt something today, please take an extra 20 seconds to subscribe, and please give our video a like or even a quick comment.

Thank you very much and we'll see you guys next week.

 

If someone you know is a Queensland real estate agent or in the industry, please share this video.

Also, if you could like and/or subscribe, if this channel has added any value, we would really, really appreciate it.

Get in touch with us. Jump on our Instagram, our Facebook, our website.

George Sourris. Empire Legal.

If you have any questions, you can email me: george@empirelegal.com.au. 

If this has added value, please share this blog / the YouTube video with a friend. 

Thanks for reading everybody. See you on the next one.

Ladies and gentlemen, please keep in mind that all advice is general in nature and does not constitute legal advice. This is authorised by George Sourris, Empire Legal, Gold Coast, Queensland, Australia.

---------------------------------------

We can help…

For simple, sunny, smooth sailing conveyancing - Empire Legal.

We look forward to continuing to help thousands of Queenslanders every year with their conveyancing!

Any questions? Want to know more? Get in contact with us via the below form or via info@empirelegal.com.au.

Note: all information is general in nature and as each matter is unique please contact our office for tailored advices: the above does not constitute legal advice.