As a landlord in Queensland, your costs generally include a mix of fixed ownership expenses, optional services, and legislated responsibilities. Here’s a breakdown of typical costs associated with owning and leasing a residential investment property under the Residential Tenancies and Rooming Accommodation Act 2008 (Qld):
Mandatory/Owner Responsibility Costs
These are expenses landlords must cover:
- Council Rates – Paid quarterly or annually.
- Water Charges (fixed access) – Landlord pays for water access and may pass on usage charges if certain conditions are met (see below).
- Body Corporate Fees – If part of a strata title or community scheme.
- Landlord Insurance – Highly recommended (not legally required, however, must have PL insurance).
- Repairs and Maintenance – Includes wear and tear, plumbing, electrical, etc.
- Smoke Alarm Compliance – Including installation, testing and servicing (as per 2022 legislation).
- Pool Safety Compliance – Certification and ongoing maintenance if applicable.
- Pest Control – Termites and general property protection (tenant responsible for fleas if pets allowed).
- Safety Switches and Electrical Compliance – Required by law.
- Property Management Fees – If using an agent.
Water Charges (Special Note)
Landlords can only pass on water usage charges if:
- The property is individually metered; and
- The property is water-efficient (per RTA water efficiency standards); and
- The tenancy agreement states the tenant must pay for water usage.
If these are not met, the landlord covers all water charges.
Optional/Discretionary Costs
These vary depending on your circumstances or preferences:
- Gardening/Lawn Maintenance (if not tenant’s responsibility)
- Land Tax – Depends on the value of your total Queensland landholdings.
- Accounting and Tax Preparation
- Upgrades and Improvements – Renovations, new appliances, etc.
