Regarding what you need to do as a landlord looking to rent your property privately in ACT, just follow these simple steps.
Before Approving a Tenant
1. Ensure you have had a check done on the tenant (which you can arrange through us)
2. Ensure you have phoned/ checked all the tenant’s references (they will be asked to supply current employer, current landlord, and personal references on our tenancy application)
Once you wish to approve a Tenant
You will need to meet with the tenant, sign an agreement with them, provide them with some printed factsheets, and also complete a report on the condition of the property. Links and further explanation below.
1. Meet with them and sign a Residential tenancy agreement form, which you can get from: http://www.tenantsact.org.au/rentingAdvice/Standard-Lease-Agreement-in-the-ACT
2. Complete a Condition report, keep one copy for yourself and supply two copies to the tenant. Where possibly, it can be helpful to complete this together with the tenant to minimize disagreements about what is noted. You can get this from: http://www.tenantsact.org.au/LiteratureRetrieve.aspx?ID=47801
3. Request a bond of 4 weeks rent from the tenant. When you receive it, make sure to provide the tenant with a receipt, and complete a bond lodgement form which is available from: http://www.legislation.act.gov.au/af/2013-29/current/pdf/2013-29.pdf Bonds may be lodged over the counter at the Access Canberra Community, Business and Regulation Shopfront, or by mail, fax, or email to This email address is being protected from spambots. You need JavaScript enabled to view it. . You must lodge the bond within two weeks of receipt of the bond or commencement of the tenancy, whichever the later.
During the Tenancy
1. Conduct routine inspections of the property no more than twice a year. Routine inspections can’t be carried out on a Sunday, a public holiday, before 8am or after 6pm. Make sure to always provide the tenant 7 days notice in writing.
2. Make sure to keep documentation of any occurrences, e.g. copies of any letters/receipts you send to tenant, photos of any damage etc. just in case there ever a dispute in future,
Other
We strongly recommend completing National Tenancy Database / TICA blacklist checks before approving any tenant (you can arrange this through PropertyNow). In addition to checking tenancy blacklists, you should also consider checking the ACCR criminal court attendance database here: https://auccr.com/free and may order full police background checks through PropertyNow if you wish
Most importantly, consider taking out Landlords Insurance – this covers you for theft, malicious damage, or loss of rent if the tenant stopping paying - http://www.canstar.com.au/home-insurance/what-is-landlord-insurance/
http://rac.com.au/insurance/home-insurance/landlords-insurance
There are many different providers so make sure to shop around.
Lastly here is a general overview of tenancy information, forms and fact sheets. http://www.tenantsact.org.au/rentingAdvice/tenancy-factsheets/Tenancy-in-the-ACT
If you have any questions leasing your property yourself in the ACT, don't hesitate to give us a call or email, we'd be happy to help!