Signing the lease agreement

On the day of signing the lease agreement...

It is important that each tenant understands the contents of the standard residential tenancy agreement and we here at Raine & Horne Strathfield ensure that time is taken for the tenants to read through the document (especially if they have not rented before) at their leisure and in this way any queries can be addressed at this time. This is a legal document and must not be entered into lightly.

The tenants are guided through the document if they so desire to ensure full comprehension before signing on that line.

Two identical documents are produced by our agency- one for the tenants to take and keep and one copy to keep on file here at our office. Both documents are to remain at our office premises until which time the copies of the lease agreements have been signed by all tenants whose names appear on the lease.

Once all tenants have looked over the information provided to them/ discussed the lease agreement with the agent it is then time to sign each agreemnt as well as a singular bond lodgement form. The bond requested of each tenant of a residential premises must not exceed 4 weeks worth of rent. This 4 weeks is sent off to the Rental Bond Board and can only be claimed at the time of vacating the premises.

As well as payment of the bond we will also require a subsequent week's worth of rent as two weeks rent in total is required to be paid upfront when any tenant moves into a residential premises. One week should have already been collected at the time the tenant's application was deemed successful.

The balance of the bond may be payable to our agency via bank cheque or may be credited to our bank account prior to the date of signing the lease agreement. We also have Eftpos facilities that can be utilised for this purpose only if the limit is high enough for the payment to clear.

Tenants now have the opportunity to pay the rental bond amount directly to the rental bond board via Rental Bonds Online. The bond can be paid in one lump sum amount or alternatively in installments however must be received in full prior to the lease start date or keys will not be issued. For more information on this please follow the link below:

http://www.fairtrading.nsw.gov.au/sites/ftw/About_us/Online_services/Rental_bonds_online.page