Property Management In Whangarei: What You Should Know About Tenancy Agreements
Renting before buying in a new location offers a glimpse of what it’s like to live among the locals, to understand whether you are on the right side of town for your needs, or the call of the beach means you need a property closer. It’s an excellent way to experience a new community and it also gives you ample time to decide whether you should move into the neighborhood permanently.
Renting a property in Whangarei is not that complicated. First, you find an advert for an available rental unit or home, and then you call the letting agent to arrange a viewing. If you like it, you sit down with the rental property manager and negotiate the terms after of course compulsory background checks. And the result of that negotiation can be found in a tenancy agreement.
What is a Tenancy Agreement?
A tenancy agreement is a formal, legally-binding contract that stipulates what terms the landlord and tenant have agreed upon.
The tenancy agreement will always be the ironclad document that both parties can reference if any disputes and concerns arise later on.
And with the updated Residential Tenancies Act (RTA), both the landlord and tenant must sign a written tenancy agreement, and as required by law, the landlord must hand over a copy to the tenant before they occupy the rental unit.
Like with any contract, one should read the terms and conditions before they sign the document. If there’s a clause that remains unclear, a tenant may seek legal advice before signing the agreement.
In a written tenancy agreement, the information on the contract should be accurate and must include all the important details of both the landlord and tenant.
Just to highlight the key details of a basic tenancy agreement, the legal contract should include the following:
- Full legal names of landlord and tenant
- The address for service, contact phone numbers and email addresses of both the landlord and tenant
- The date both parties sign the tenancy agreement
- Start of tenancy date
- End of tenancy date
- Amount of bond paid
- Rental amount to be paid and the rental payment due date.
- The number of people allowed to occupy the rental home.
- A list of any chattels (such as furniture, drapes, rugs and other fittings) that is provided by the property owner.
Note the special importance on who is signing the document. If you’re dealing with multiple tenants, they may choose to all sign and be part of what is called a joint and several liability. This means they agree to be all responsible and liable for any damages and issues incurred during their stay. For example, if one tenant abandons the property, the remaining tenants will have to pay for the rent and the missing share.
To view or download a residential tenancy agreement, the NZ Tenancy Services provides a template.
The Initial Walkthrough
A landlord and tenant should do a property inspection together before they finalise their tenancy agreement. Both parties can note the state and condition of the rental unit, this is to prevent any future problems and disputes particularly when the tenancy comes to a close and the landlord has to do a final walkthrough. A ‘property inspection report’ or a list should be made noting the chattels and appliances provided, and whether they are in good working condition. All existing damage to surfaces, worn-out fixtures or anything old should be written down. Better yet, take photos as a visual reference. This will help ease the process of moving out later on, and avoid unnecessary charges or deduction on your bond.
We hope this information is of good use to you, if you have been left with the feeling of its all too much, then if you are renting, rent a property through us and we will guide you each step of the way. If the landlord and you want a hands off approach, then contract us to be your rental agency and we can do the hard work for you!
Get in touch with us at RentalsCo NZ. Consult with us for our letting services, property rentals and for property investors, we provide full-service tenancy management services in Whangarei. Call us at 09 459 7139 or email inquiries at info@rentalexperts.co.nz.
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