Starting a tenancy: tips for Mount Isa landlords and tenants
The start of a residential tenancy is a crucial time for both Mt Isa landlords and tenants. It’s important to start off on the right foot to help ensure a smooth ongoing relationship. Here are our top tips to help you do that.
Understand the terms and conditions of the rental bond
The rental bond is a form of security for landlords against unpaid rent or property damage. The maximum bond a Queensland landlord can charge if the rent is less than $700 per week is 4 weeks rent. For properties where the weekly rent is higher, the bond is negotiable and there is no upper limit.
Mount Isa landlords or their property managers are legally required to lodge their tenant’s bond with the Residential Tenancies Authority (RTA) within 10 days of receiving it. Tenants should ensure they receive a receipt for the bond payment and a completed bond lodgement form in return. It’s essential for both parties to understand the terms and conditions for the bond’s release at the end of the tenancy.
If there is no unpaid tenant rent or tenant-caused property damage, then the rental bond will be returned in full. If there is unpaid rent or tenant-caused property damage, the landlord is entitled to deduct some or all of the bond as compensation.
Ensure the entry condition report is accurate
All Queensland landlords (or their property managers) must prepare an accurate entry condition report and provide it to tenants for review at the start of the tenancy, noting whether or not all items in rental premises are clean, undamaged and working. Taking photos or videos is a good idea. Any existing damage or issues should be noted.
Tenants should review the entry condition report for accuracy and must sign and return it to their landlord or property manager within 7 days. If the tenant disagrees with the described condition of any item listed on the entry condition report, they should immediately notify their landlord or property manager. Supplying photos or videos as evidence is a good idea.
It’s essential for both landlords and tenants to keep a copy of the mutually signed and agreed entry condition report for reference throughout the tenancy. It serves as a reference point for any potential disputes about any subsequent property damage that may affect the repayment of the rental bond.
Understand rent payment conditions
Landlords should clearly outline the rent amount, frequency, and preferred payment method in the tenancy agreement. Tenants should ensure they understand these terms and prioritise paying rent on time each month.
Ensure property security
Property security should be a top priority for both landlords and tenants. Landlords are responsible for ensuring that the rental property is secure and that all locks are in good working order at the beginning of the tenancy.
Tenants should notify their landlord or property manager immediately if they encounter any security concerns during their tenancy, such as malfunctioning locks or broken windows.
Tenants must not change locks without permission from the landlord or property manager at any time during their tenancy, as this would be a breach of the terms of the tenancy agreement.
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