THE EXPERT
Cassie Nancarrow
As Property Management Leader, Cassie truly believes in putting the customer first. And with 20 years experience in real estate, she brings a depth of knowledge and industry expertise.
As the first step towards moving into a new home, signing a lease is an exciting moment. The only problem is, the process can be filled with confusing legalities and you need to ensure you know exactly what’s expected of you - and what you should expect.
Let’s break it down.
What You Must Clarify Before Signing a Lease
First up, you should be issued with a copy of your lease, two property condition reports, a bond lodgement form and a new tenant checklist from NSW Fair Trading. Before putting pen to paper, make sure you double check the following:
- The length of the lease, which is generally 6 or 12 months, or otherwise negotiated before signing.
- That any additional terms in the lease are legal and stated on the form. For example, if the owner agrees to you having a pet on the property, ensure it’s in writing.
- That any repairs the owner has agreed to make before you move in are listed or are completed.
- Your exact upfront costs, such as rent in advance and bond.
- The ongoing costs required of you, such as specific maintenance and bills.
- Valid certificates of compliance for pools or spas if applicable.
When you get your keys, take a careful look around to fill in the condition report.
What to Do After You Move in
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As soon as you move into your new home, take a careful look around to fill in the condition report. Note every detail, down to marks on the wall, and take date-stamped photos. This ensures you aren’t blamed for existing damage and don’t risk forfeiting bond at the end of your lease. Keep a copy for yourself and give one to your agent or landlord. Also, check to ensure your bond has been received via Fair Trading and note your Rental Bond Number.
Throughout the term of your lease, keep a journal of your dealings with the landlord or agent. Put your requests for repairs in writing and keep track of dates for completion, or any complaints. Don’t stop paying rent if your landlord isn’t complying with the terms of the lease, as this only serves to put you on the wrong side of the agreement as well. Always deal with disputes through your agent or Fair Trading.
When you invest in looking after the property, pay rent promptly, abide by the lease agreements and communicate any issues, you’re set for a smooth ride for the length of your tenancy.