Acting as landlord for a rental property, whether residential or commercial, includes a number of legal obligations. These laws are in place for a number of reasons including the management of issues with respect to the rental property.
Before your new tenant occupies your property it's essential that they sign a tenancy agreement or lease - not doing so may prolong disputes should they arise. A detailed lease typically incorporates 40 matters including: the sum to be paid as bond; the rent amount and payment frequency; and the commencement and duration of the lease agreement.
Each Australian state and territory has its own regulatory regime regarding tenancy agreements. It's important you careful review the laws governing the rental lease that applies to your property.
Rental bonds offer landlords vital protection. Should substantial damage to your property occur, or the rent remains outstanding once the lease comes to an end, the bond provides security.
Once you receive bond monies, you're required by law to lodge it with your state's relevant government office within 3 to 14 days - again, the duration is dependent on which state your property's situated in.
If you're unclear as to how much your tenant i's required to pay, consult your state department of consumer affairs or housing. Typically 4 weeks rent is the equivalent Bond permitted. Properties what warrant higher than average rental amounts may be eligible for a higher bond - seek the details from your local rental bond authority.
As with the bond, the amount of advance rent you can request is, typically, dictated by the relevant State regulations.
Once the lease is signed, bond is paid, and advance rent is secured, you may have to provide your tenant with a Condition of Premises Report. The report should be comprehensive breakdown of the condition of the property -including the walls, roof, windows, painting and carpet.
Your tenant should review the report, noting any item appraisal they disagree with. You should then sign the amended report, providing your tenant with a copy.
Where there's potential for future disagreement, photographs featuring timestamps may corroborate your findings should problems arise.
The information contained in TenancyCheck.com.au website is general information only and does not constitute legal, financial or compliance advice. As the laws relating to tenancy agreements may have changed we recommend you check with the relevant State or Territory government department. We also recommend that you obtain your own independent legal advice about matters relating to landlord obligations, tenant rights and any legal disputes you may have with a tenant(s).
According to the Global Property Guide, Australia's tenancy laws are neutral between landlord and tenant - meaning both parties enjoy equal protection from their state's and territory's Residential Tenancy Act.
As a landlord, it's vital that you have an in-depth knowledge of tenant rights specific to the state your property is located in to ensure you don't unwittingly fall foul of the law, and that you're able to resolve any disputes that arise in a timely fashion.
If you're considering renting your property privately, it's important to know your state's Tenancy Act inside out - both to ensure you don't break the rules and to avoid being taken for a ride by opportunistic tenants.
Australia's state-specific Residential Tenancy Acts are intended to protect both the landlord and tenant under residential tenancy agreements.
The Commercial Tenancy Act is the regulatory environment governing commercial leases. Specific obligations regarding business tenancy differ from state to state, and are typically more complex than Australia's Residential Tenancy Act.
Each state and territory has its own landlord laws that must be adhered to. Knowing your rights and responsibilities as a landlord is the best way to nip any disputes with tenants in the bud should they arise.
Australian states and territories have long-established tenancy authorities to protect the rights of both landlords and tenants. For landlords, an in-depth knowledge of your rights before committing to managing your property privately will ensure you remain on the good side of the relevant government bodies.
Common law dictates that landlords have a duty to guarantee the safety of rented property and its contents. Of utmost importance is that no injury or damage is caused to the tenants, neighbours or public as a direct result of the landlord neglecting his/her responsibilities.