Gladstone landlords wanting to receive higher rental returns and increase the value of their investment properties should consider applying for the Queensland Government’s Solar for Rentals trial.
Landlords from Gladstone, Bundaberg and Townsville have already begun to reap the benefits of the trial, which launched earlier this year.
The aim of this Queensland Government initiative is for landlords with tenanted homes to install polar photovoltaic (PV) systems, with the view of tenants renewing or entering a new lease with a fair rent increase, while reducing overall living costs for tenants.
This is part of the Affordable Energy Plan and will be administered by the Queensland Rural and Industry Development Authority (QRIDA).
There are 1,000 rebates available for eligible landlords of up to $3,500 depending on the size of the solar system installed. Systems must be installed and the rebate application submitted by 30 June 2020. As at July 8, there have been 435 registrations with 64 applications approved and rebates paid to eligible landlords. Of the 435 registrations, 53 of these have been for Gladstone.
Benefits of the trial
The eligible landlord will receive the rebate after paying for the install and supply of the system. The rebate will go towards the upfront cost of installation. Tenants will benefit by being able to access solar with no upfront costs. The solar will also assist to reduce the cost of living.
Landlords and tenants must both consent to participate in the scheme. Eligibility criteria includes:
- Rental property located in either Bundaberg, Gladstone or Townsville
- Property currently leased with a rent (before solar) of no more than $350 per week
- Participating landlords and tenants must renew or enter into a new lease of a minimum 12 months with a fair rent increase.
The solar system installed must also meet certain criteria as stipulated on the website – www.qld.gov.au/solar-for-rentals
For more information, get in touch with your Property Manager or call the Solar for Rentals application enquiries hotline on 1800 623 946.