In order for you to rent out your property in Western Australia you will need to have a Western Australia rental agreement contract in place. This agreement contract is governed by the Residential Tenancies Regulations 1989 and Residential Tenancies Act 1987. In the Act it will outline the responsibilities of the landlords and the tenants. The Act has a broad coverage of the rental agreement including new rental, renewal, extended, assigned or transferred the lease contract to some one else, Residential Parks rental (Long-stay Tenants) Act 2006, hotels and motels rental, holiday homes, age care facilities including hospitals and nursing homes.
Most landlords when they want to rent out their property they normally engage the services of an agency to do it for them. The agency will assign a property manager on the specify property and the will deal with all aspect property rental. However in some cases certain landlord would like to manage the property themselves.
If you would like to rent out the property yourself then here are a few steps you can follow to get started.
1. Before the tenant can starts moving into your property make sure that your property is properly insured. Although this is not require by the Act but it will save you a lot of headache and $$$ down the track if you have choose the wrong evil tenant whom manage to cause lots of damages to your property.
Download and print out 3 copies of the property condition report. The property condition report should contains a very detail description of the property, for example it should describe the state of the oven, the stove, the doors, the ceiling, any damages that already exist before the tenant moves in and etc.
All of the below mention forms are require by law so make sure the tenant have all the require forms.
2. Download the Form 24B – Periodic Agreement OR Form 24A – Fixed Term Agreement and have it signed by you and your tenant. The form only contains general terms however if you want to put any additional conditions to the contract then put into in the addendum form. The addendum forms allow you to put in terms such as routine inspections, water consumption, carpet cleaning, pets, furnished properties, vacation – repairs and cleaning, keys and many other things that you can think of.
3. Download the Schedule 2 – Information for Tenant form and give it to your tenant.
4. Download the Form 1 and 8 – Lodgement of Security Bond Money.
5. Record water and electrical water meter reading before tenants move in (There is no form for this, you just needed to write the meter reading down to a piece and store it safe somewhere so that when the tenant move out you can work out how much to charge them).
You don’t have to part with your hard earn money to get these forms. Just simply download it for free at Free Western Australia rental agreement.