Process Of Arranging A Lease
Once the individual has decided on a favourable property, there are several steps which they must abide by in order to arrange a lease. The main steps involve in renting a property to determine exactly what type of premises you require then obtain a copy of the residential tenancy agreement from the agent (a section is reproduced at right). This is an agreement between the landlord and the tenant that outlines all the terms that both parties must follow. Next you have to complete the condition report. This details the exact condition of the property when you move in. It is extremely important as any disputes regarding the state of the property when you leave can be related to the condition report. Afterwards, you may be asked to pay a reservation fee (bond). This is usually one week's rent that will reserve the premises for you while your application for tenancy is being considered. You will then have to sign the lease after reading it and checking it thoroughly. After that, you have to pay a rental bond, usually four weeks' rent. This money is lodged by the landlord at the Rental Bond Board, operated by the Office of Fair Trading. A tenant must pay the rent in advance from the first day of tenancy. Most landlords or their agents require two weeks' rent in advance. The final step is to take possession of the premises. This involves obtaining the keys and moving in with your belongings.