A bill amending the Manufactured Homes (Residential Parks) Act 2003 (MHRP Act) was introduced to Parliament on 21 March, risking future investment to the sector and adding further pressure to the housing market.
The proposed changes would see site rent increases limited to CPI or 3.5 per cent and market rent reviews banned.
Other changes include amendments intended to streamline the sales process for manufactured homes as well as the introduction of an opt-in buyback scheme and site rent reduction scheme for homes that have been on the market for 12 months.
There is also a provision for park owners to be able to apply to the Queensland Civil and Administrative Tribunal when they feel these changes impact a park’s viability.
The advocacy team of the Property Council’s Queensland Division is preparing a submission ahead of the 10 April deadline and welcomes member feedback on what the amendments will mean for you.
You can read our media release here and our previous submission here.