The Bill provides clearer legislative recognition of the contemporary land lease model, where residents own their dwelling and lease the site beneath it, while addressing a number of issues raised by the Property Council during consultation, including scope boundaries, ownership structures, redevelopment pathways and site rent regulation.
Property Council Director for Land Lease Tom Court said the Bill represented a constructive and significant outcome for the sector.
"One of the most important outcomes is clearer recognition of land lease as a distinct form of permanent housing, providing greater certainty for residents, operators and government.
"We are pleased to see clearer scope boundaries, recognition of contemporary ownership structures and a practical pathway for redevelopment and renewal.
"The balanced approach to site rent is also welcome, maintaining transparency and review protections for residents without imposing a hard statutory cap."
Under the Bill, rent increases are generally limited to once every 12 months with 60 days notice, with TASCAT able to review increases against factors including comparable rents, operator outgoings, service costs and amenity.
Mr Court said the implementation phase would now be critical.
"There are still important operational details to work through, particularly around permitted charges, optional services, rent review processes, redevelopment pathways and transition arrangements.
"This Bill provides a strong foundation. The next step is ensuring the regulations deliver the certainty and workability that residents, operators and investors need.
"We look forward to continuing to work constructively with the Tasmanian Government to support a framework that protects residents while encouraging investment in land lease housing."
