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Self-managed residential lease obligations and laws

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  • Self-managed residential lease obligations and laws

    The last time I self managed a rental property was a long time ago (and of course laws and obligations have changed)

    Investment property in Queensland is managed by an agent with the usual approvals and authorisations for tenants and maintenance work.

    I am now renting our previous house in WA privately on a somewhat trust/mutual agreement basis (hardworking guy, has had a shite start in life, has some carpentry experience, and is prepared to do some fixes on the old home)

    When I say hardworking, he has good references from his current employer and has also been doing handy work for my mother (and I worked alongside him shifting stuff - heavy stuff)

    So what are the official obligations of a rental arrangement these days? I tried REIWA but the form is stamped with SAMPLE ONLY.

    A further search garnered the 1AAResidentialTenancyAgreement

    Is that it?

    No I am not being a muppet, I just want to give this guy a go and protect us both in an unusual/informal arrangement.

  • #2
    Can be done easy enough......if you Trust the perspective Tennant enough. Like all things but you have to be preparred for it to all go to shit Very Quickly when things go wrong, no matter how Nice things are at the Start.

    To check out all the relavant Laws to Protect, not only Them but You (that's right.....there are just as many people that complain about Bad Landlords) go to Residential tenancy laws - Consumer Protection - Department of Commerce they have a whole range of info on what Has to be done by You and the Tennants. They have PDF files that Walk you through the whole process eg: http://www.commerce.wa.gov.au/Consum...ssorsGuide.pdf

    Make sure you fill out all the Correct Forms (all available on the website.....free, don't pay for them at the news agents like most First timers do), don't just Wing It or you'll get Burnt. Make sure you get a Bond account setup in their name, Landlords Insurance (try find one with good Liability Isurance built in, people can Sue you over the weirdest crap), keep a Written record of All correspondance To and From them (even set-up a Specific email account just for handling the Rental), copies of all Financial dealings (helps with the Accountant and more importantly the Taxman). Don't forget to Increase the Rent each renewal, even is it is some Token $5 per week increase.....the Tennants, Have to appreciate that the cost of Owning/Maintaining a Roof "over their heads" Costs You more each year through Inflation, Maintainence, etc. You are the one helping them out, not the other way round......don't feel guilty.

    If you get stuck, I'll forward a copy of what we get our Tennants to Sign each renewal (names and adresses blanked out of course), it has Extra conditions built in that we have Never had to Enforce (luckily) that help protect Their and our Rights

    We have the Model "perfect" Tennants in our rental (5+years and the house is kept Imaculate by them) and only went Direct as the Rental Management Company, were Cockheads and nearly Lost them on the very First renewal as didn't follow any of our instructions for a rent increase, then Served a Eviction Notice after 2 weeks of not getting Paid rent......due to Bouncing back the Rent that the Tennants tried be pay into their account as the New Rental agreement wasn't signed in time on behalf of us Our Win, rent went up $10 a week ontop of not Paying a Management fee.
    Rules are for the Obedience of Fools and the Guidance of Wise men. Douglas Bader.

    Only two things are Infinite, the Universe and Human Stupidity, and I'm not sure about the former. Albert Einstein.

    Three can keep a Secret, if Two of them are Dead. Benjamin Franklin.

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    • #3
      Cheers [MENTION=30759]Amish Warrior[/MENTION] - just the info I was looking for

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