Deputy Premier Jackie Trad says the reforms that will come form the review are long over due.
"We need to modernise renting laws in Queensland ... (it) needs to be a positive experience for tenants and a beneficial experience for landlords," she told reporters on Sunday.
The month-long Open Doors to Renting Reform review will consult with of renters, landlords and real estate agents ahead of reforms aimed at providing more stability for all parties.
Ms Trad said an increasing number of Queenslanders were renting for longer, particularly in the inner-city where the population was booming.
She said in her own electorate of South Brisbane more than 60 per cent of all households are renting.
Housing Minister Mick de Brenni said the historic review would lead to fairer tenancy laws for the more than half a million households renting in the state.
"Many tenants tell us it's difficult to make their house feel like a home, they feel like it's difficult to hang a picture on a wall or reach an agreement with their landlord to have a pet ... tenants tell us it's difficult to feel like they have privacy with ongoing inspections," he said.
Mr de Brenni said with the majority of the state's rental properties owned by "mum and dad investors" it was also important that any new laws protected landlords too.
Tenants Queensland welcomed the review and said it would campaign for "just cause" evictions, which would require landlords to have a good reason for all tenancy evictions.
Chief executive Penny Carr said Victoria and NSW had already introduced greater protections for tenants.
"Now it's Queensland's turn," she said in a statement.