When renting a house, apartment or unit, it is important to understand the rules and regulations that govern the real estate and renting industry. Whether renting as a tenant or leasing as a landlord, you must be aware of such issues as lease agreements, rental bonds, inspections, residential contracts, the body corporate, repairs and maintenance.
For instance the general rules include paying the rent on time and keeping the premises clean and without damage. Likewise, the landlord has the responsibility of ensuring the premises are clean when you move in, keeping it in good repair and that you are not unnecessarily disturbed.
You will need to check that everything on the property works correctly, including the oven, plumbing, lights, heating, security systems, door and window locks.
A Residential Tenancy Application form helps the landlord check your references and credit history. If you fill out his form, make sure it includes a privacy statement about how your information will be used.
You must be aware that paying a 'holding deposit' may not guarantee you the property, but it could commit you to a lease!
The Residential Tenancy Agreement is a legal contract between you and the landlord, which sets out the terms and conditions of the renting. This is also referred to as the 'lease'. It should include:
Read it through carefully and never sign a blank form. Ask for help if you are not sure.
For more information visit the Consumer Affairs Victoria on http://www.consumer.vic.gov.au