Steve Nottle,
Head of Property Management at Image Property.
Essential Guide to Your Tenancy Agreement Expert Insights and Tips
[lwptoc]A tenancy agreement is a binding contract between a tenant and a landlord when managing a property. It’s essential for both parties to carefully read and understand the entire document before signing it, as your signature means you agree to its terms.
In this blog, our experienced property managers will help you understand the crucial aspects to consider when signing your tenancy agreement, in particular, under Queensland legislation.
Understanding Your Rights and Responsibilities
Renting a property comes with legal obligations, which can vary by state. To stay informed, check your state’s official website (e.g., QLD, VIC). Your tenancy agreement, entry condition report, and bond lodgement forms are all legally binding documents. Study them closely to know what you’re agreeing to, and don’t hesitate to contact your property manager if you have questions about your rights and responsibilities.
Lease Terms
Your tenancy agreement should detail important information like tenant names (with correct spelling), lease duration, rent payment methods, contact details for reporting urgent repairs, additional costs you might be responsible for (e.g., water usage), potential rent changes, and the bond amount. Remember to inform your property manager if your circumstances change or updated name change, as the agreement may need adjustments.
Entry Condition Report
This report is crucial for determining your bond refund when you move out. Please pay close attention to it, as incoming tenants have limited time to add comments. Suppose you don’t return the report within the specified timeframe (7 days under Queensland legislation). In that case, the original information becomes the only reference at the end of your tenancy, and no additional comments can be added after the timeframe is up.
Maintenance and Repairs
The property owner is responsible for ensuring the property is in good condition when you move in. Your tenancy agreement should outline the process for maintenance and repairs, including urgent issues. If you need repairs, contact your property manager by following our tenant resources section here. Urgent repairs have specific guidelines outlined in your tenancy agreement.
Compliance
Each Australian state has different compliance requirements. Your property manager should provide you with compliance certificates specific to your rental property’s needs, or you can request these at any time throughout the tenancy.
Payment Procedures
Your tenancy agreement should explain how bond and rent payments work. Pay attention to the methods and deadlines for payments. Falling behind on rent payments can result in arrears noted on your tenancy ledger. Keep your property managers informed to maintain open communication and a good rental history.
Insurance Considerations
Before signing, consider the insurance coverage you may need while renting. The owner’s insurance may not cover damage to your belongings, so consider contents insurance.
Utilities
Your tenancy agreement will outline which utilities you are responsible for throughout the tenancy. When moving into a new property, you should also consider the essential utilities and connections required. This typically includes setting up electricity and gas services, as well as arranging for internet and other communication services. You can contact Compare & Connect in advance to ensure a smooth transition and avoid any disruptions to moving in.
Access to Support
Property managers are the link between tenants and landlords, handling various responsibilities. They should be accessible throughout your tenancy. Keep their contact information handy and update them on any changes in your situation for a productive relationship.
For more insights or general advice regarding your property needs, get in touch with Image Property today.
