Showing posts with label Q and A. Show all posts
Showing posts with label Q and A. Show all posts

Friday, February 19, 2010

Q and A: My real estate agent is trying to increase the rent. Can they do this?


This all depends on your agreement (aka. your lease). If you have a fixed term agreement (current lease) the rent cannot be increased unless a 'special term' in your agreement states. This special term will include the amount of the increase or how the increase is to be worked out. In this case your lessor/agent/owner must give you notice in writing before increasing the rent. Usually around one month - depending on the laws in your state.

Although, if you do not have a current lease you will most likely be on a periodic agreement. In this situation the rent can be increased at anytime. The lessor/agent/owner must give notice in writing before increasing the rent. Usually around 2 months - depending on the laws in your state.

If your lease expires and is not renewed your rent can be increased at anytime. Moral of the story - make sure your lease is current!

If you think your rent increase is excessive you should contact your State Authority for advice.

Image Credit: Veender

Monday, February 15, 2010

Q and A: The real estate agent has advised me that I am not obiding by the body corporate by-laws. What are by-laws?

Body Corporate By-laws are rules in relation to the presentation of the property, noise, parking, visitors, keeping pets etc. The by-laws form apart of your Tenancy Agreement.

The owner/lessor/real estate agent must provide you with a copy of the by-laws when you sign the Tenancy Agreement at the beginning of the tenancy.

If you moved into an existing share house and where not living at the property at the beginning of the current lease talk to your housemate or contact your real estate agent to get a copy.

Sunday, October 25, 2009

Q & A: If I rent a property who pays for the insurance?

The owner of the property is responsible for paying the rates and for insuring the property. That is, insurance for the physical building and not for your personal belongings.

If you want protection for your personal belongings you will need to take out "Contents Insurance." This will cover the cost of your personal belongings if they are stolen or damaged.

Tuesday, October 6, 2009

Q & A: I am moving into an existing share house and my new flatmate has asked for a bond. How can I make sure that I get this back?

As this is an existing share house your new flatmates would have already paid the bond when they moved into the property. In this situation flatmates pass bond money between themselves for any new tenants coming in and going out.

You will need to fill out a Change of Shared Bond Arrangement form (this form may be called something different in your state) and this is to be lodged with your State Authority (i.e. in Queensland it is the Residential Tenancies Authority). Usually your real estate agent will do this on your behalf. Be sure to keep a photocopy of this form for your own records.

If you choose to move, and your flatmate stays, you will have to fill out another one of these forms and get your flatmate to refund your bond or lodge a Refund of Rental Bond form (depending on your state this called something different). Bond money does not usually get refunded until the tenancy has ended. So if you are the only tenant moving out, usually you will be refunded your share of the bond by the other tenants, or by the new tenant moving in. For more information contact your real estate agent.

Tuesday, September 29, 2009

Q & A: How much bond can I be charged?

If your rent is $500 a week or less (that would be most of us), the maximum bond you can be charged is equal to four weeks rent. So if your rent is $100 per week the maximum bond you can be charged is $400. Alternatively if your rent is more than $500 per week (for all those money bags out there!) there is no limit.

Please Note: this is information is for Queensland only and laws may vary from state to state.

Q & A: I have an existing lease. Do I have to get permission before my new housemate can move in?

Yes. The owner of the property has the right to know and approve people living in their property. You must contact the lessor/agent/owner about any tenancy changes and you will have to get your new flatmate to complete a Rental Application Form before they move in.

It is essential that the lessor/agent/owner is notified each time tenancy changes occur. It is also in your best interest to add your new housemate to your existing lease for your own protection. So all tenants are responsible for payment of rent and payment of any compensation owned - if the Tenancy Agreement is breached.

If the lessor/agent/owner refuses to accept your housemate's application, you can apply to your State Authority's Dispute Resolution Service. Although keep in mind that most real estate agents will do a though review of the application and check any tenancy databases (ie. Tica) for any tenancy defaults - such as unpaid rent. So, if your new housemate's application has been refused there is probably a very good reason.