Landlord Information - Starting a Tenancy
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It’s important to understand the process and be well informed about being a landlord in NSW. There are a range of procedures at a start of a tenancy, during a tenancy and ending a tenancy that both landlords and tenants should be familiar with. If you are unsure about an aspect of the process, it is always best to refer to Fair Trading NSW.
STARTING A TENANCY
NEW TENANT CHECKLIST
At the start of every tenancy, the agent or landlord (if you are self-managing) must give your new tenant a copy of a Fair Trading publication called the New tenant checklist. This fact sheet contains important information to be aware of before signing a new tenancy agreement. The agent or landlord (if you are self-managing) need to also provide a copy of the tenancy agreement, an invitation to lodge the bond, keys to your new home and two copies of the premises condition report one of which should be returned (to agent or landlord).
For further information regarding “New Tenant Checklist” in NSW please click link below:
https://www.fairtrading.nsw.gov.au/housing-and-property/renting/starting-a-tenancy/new-tenant-checklist
DISCRIMINATION WHEN RENTING
Landlords and agents have the right to choose the most suitable applicant for the property but are not allowed to unfairly discriminate. In NSW, it is against the law to discriminate against: race, sex, pregnancy, martial status, disability, homosexuality, age or transgender. If the landlord or agent does not want smokers, tenants with poor tenancy history or people who have had an issue with rent payments, this is not against the law.
For further information regarding “Buying into a Strata Scheme” in NSW please click link below:
https://www.fairtrading.nsw.gov.au/housing-and-property/renting/starting-a-tenancy/discrimination-when-renting
TENANCY DATABASES
Tenancy databases are used by agents to screen prospective tenants. At Richard Matthews Real Estate we are a member of TICA which is Australia’s largest tenancy database. This is just one of the tools we use in our selection process to find our landlords the best tenant for their property. Tenancy databases hold information about tenants. These databases are also referred to as ‘blacklists’ or ‘bad tenant databases’.
The Residential Tenancies Act 2010 sets out who, when, and why a person can be listed.
For further information regarding “Tenancy Databases” in NSW please click link below:
https://www.fairtrading.nsw.gov.au/housing-and-property/renting/starting-a-tenancy/tenancy-databases
TENANCY AGREEMENTS
A residential tenancy agreement, also known as a lease, is an agreement between a landlord and the tenant to live in your property in return for rent. It is a legal contract that sets out the terms and conditions of the arrangement.
FIXED TERM AGREEMENTS: A fixed-term agreement is used for a period of time with a specific end date. For example, 6 or 12 months.
PERIODIC (CONTINUING) AGREEMENT: A periodic or continuing agreement has no specific end date. If a fixed-term agreement ends and a new lease isn’t signed, the tenant will automatically move to a periodic agreement.
For further information regarding “Tenancy Agreements” in NSW please click link below:
https://www.fairtrading.nsw.gov.au/housing-and-property/renting/starting-a-tenancy/completing-a-tenancy-agreement
CONDITION REPORTS
A condition report records the general condition of the property on a room-by-room basis including fixtures and fittings. The report should be filled out with as much detail and accuracy as possible. If there is a dispute about missing items or damage, the report can be used as evidence. A condition report must be filled out before the tenant moves in.
For further information regarding “Condition Reports” in NSW please click link below:
https://www.fairtrading.nsw.gov.au/housing-and-property/renting/starting-a-tenancy/filling-out-a-condition-report
TAKING A BOND
Money paid by the tenant at the start of a tenancy agreement is called a rental bond. All bonds must be lodged with Fair Trading. A rental bond cannot be more than four weeks’ rent. This is paid at the start of the tenancy and applies to all NSW rental properties, whether furnished or unfurnished.
For further information regarding “Taking A Bond” in NSW please click link below:
https://www.fairtrading.nsw.gov.au/housing-and-property/renting/starting-a-tenancy/taking-a-bond