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 tenants references (they will be asked to supply current employer, current landlord, and personal references on our tenancy application)
3. Ensure you have physically sighted proof of identification, proof of income, proof of address, and proof rental history (e.g. lease agreement, written reference, or tenant ledger)
Once you wish to approve a Tenant
1. Meet with them and sign a Residential Tenancy Agreement form (NSW), which you can request from us via email.
2. Complete a property condition report within 7 days of the start of the tenancy, 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 request a blank condition report from us via email.
3. Request a bond of 4 weeks rent from the tenant. When you receive it, make sure to provide the tenant with a receipt. You can find more information about bonds at this link: http://www.consumeraffairs.nt.gov.au/ForConsumers/ResidentialTenencies/Documents/bonds_or_security_deposits_factsheet.pdf
During the Tenancy
1. Conduct routine inspections of the property up to 4 times a year, and with 7 days written notice each time using this form http://www.consumeraffairs.nt.gov.au/ForConsumers/ResidentialTenencies/Documents/rt09_notice_of_entry_by_landlord.pdf
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.
We also strongly recommend having a look at this link: http://www.consumeraffairs.nt.gov.au/ForConsumers/ResidentialTenencies/Pages/default.aspx which provides forms, factsheets, as well a link to the more detailed Residential Tenancies Act.
If you have any other questions that aren't answered here, or are considering leasing your property yourself in the ACT, please don't hesitate to give us a call or email - we'd be happy to help.