Great rentals start well before the lease is finalised. A few simple steps can make all the difference in a rental experience.
The best way to avoid a stressful dispute is to ensure the agreement is clearly laid out and understood by both parties before you sign on the dotted line. Clear understanding of the agreement and the responsibilities of both the landlord and the tenant brings peace and helps to avoid confusion from unexpressed expectations.
This page has all the information you need to know about the steps to take before signing a lease, how to handle security deposits and what to check before returning them.
6 Steps to Begin a Tenancy:
We've put together a 6 step guide to beginning a tenancy. Following these simple steps will help ensure both landlords and tenants have a positive experience.
1. Take a property inventory - The inventory lists all items in the property (furniture, kitchenware, etc.) and should be approved and signed by both parties. Taking photos of the property is a recommended measure as photos can be useful in the case of a dispute.
2. Check the property fulfils safety requirements - The law requires landlords to make sure their property meets the fire safety requirements. Click here to find a list of the Minimum Standards.
3. Communicate lease & key information - Landlords are required to share their name and contact details and it is recommended that landlords ask for the tenant’s PPS number. If the property is in a rent pressure zone, landlords have they are required to share with their tenant. Find out more about rent pressure zones.
4. Follow-up with tenant’s references - Landlords should ask for references and follow-up with these references prior to signing a lease agreement. It is also recommended that the landlords request the tenant’s PPS number in the case of a dispute.
5. Obtain a security deposit from tenant - A security deposit is a sum of money that is paid by a person to the landlord before tenancy begins. The landlord holds onto the deposit and returns it at the end of the tenancy assuming the tenancy agreement have been honoured.
6. Sign Lease Agreement & Register with the Residential Tenancy Board (RTB) - Once both parties have signed the tenancy agreement, register or renew registration with the Residential Tenancy Board (RTB). All landlords must register their tenancies. Click here to find out more about RTB registration.