A tenancy lease agreement is a legally binding written agreement between a tenant and property owner. It is therefore crucial to take some time to review the document completely, understand what is says, and asked questions before signing and acknowledging that you agree to its content.
Below outlines areas to look for and carefully consider when signing a lease agreement.
YOUR RIGHTS & RESPONSIBILITIES
Renting a property involves several legalities. Each state has a governing body that dictates tenants rights and responsibilities. Check the below website to ensure you know the latest information for renting in QLD.
Residential Tenancies Authority QLD
Your tenancy agreement, entry condition report (ECR) and bond lodgement forms are all legally binding documents. Take time to read them so you know what you are agreeing to, and store them safely and securely. Contact your property manager if you have any questions about your rights and responsibilities
LEASE TERMS
The tenancy lease agreement should outline tenant names, length of lease, rental payment options, contact numbers for emergency repairs and maintenance, any other costs you may be responsible for such as water usage, the bond amount to be held, and any special terms.
Notify your property manager if any of your circumstances change, for example, if you need to change the day you pay your rent due to a change in your pay cycle. Remember a tenancy is a legally binding document and must be amended if anything outlined in the agreement changes.
CONDITION REPORT
An entry condition report is a legal document provided as part of the tenancy agreement to help determine the condition of the property prior to moving in and to determine a bond refund when the tenant moves out. Therefore, it is essential to give your entry condition report your full attention.
Incoming tenants have limited time to add comments to the entry condition report (ECR). If you do not return your entry condition report within the set timeframe, the entry condition report supplied to you by your property manager will be the only document referred to at the end of your tenancy.
MAINTENANCE & REPAIRS
The property owner is responsible for ensuring the premise is in a good state for occupancy, and your property manager will have worked with the owner to ensure their obligations are met at the start of your tenancy. The tenancy lease agreement should outline a process for maintenance and repairs, including urgent maintenance.
Is it your responsibility to contact the property manager when maintenance and repairs are required. Property managers spend a lot of time out of the office, therefor it is imperative to follow the process for making maintenance requests, which is usually in writing whether it be by email or message. Urgent repairs are governed by legislation. If you have an urgent repair, refer to your tenancy lease agreement for the right people to contact.
PAYMENTS
The tenancy agreement should outline bond and rental payment processes. Pay close attention to how and when payments should be paid. Arrears will be documented on your tenancy ledger if you fall behind on regular rental payments. If this happens, it is essential to keep your property managers up to date, they can work with you to bring your payments back into line with your tenancy requirements.
INSURANCE
Before signing a tenancy lease agreement, it is important to consider what insurance coverage you may need while renting. Regardless of how it occurred, any damage to your belongings may not be covered by the owner’s insurance. Contents insurance is necessary to cover any unforeseen event that involves you or your belongings. If someone injures themselves on or with any of your belongings, the incident may not be covered by the owner’s insurance.
SUPPORT
Property managers act as conduits between tenants and landlords, Handling inspections, leases, rent payments, legalities, and day to day demands. Your property manager should be accessible to you throughout your tenancy.
Make sure you note the best method of communication with your property manager, save their phone number and email and remember to update them with any changes to your situation throughout your tenancy to foster a healthy productive relationship.
