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NSW Real Estate Rentals

NSW Real Estate Rentals are growing in demand as rising property prices are making it difficult for low-income people to own a home here. Even the rent has started to increase and this has made property investors and the owners of rental properties happier than ever as they can now expect solid rental yields in the years to come. Tenants, on the other hand, need rental solutions that fulfill their requirements while keeping the expenses at the lowest level.

Hence it is important for them to read the renting guide before signing the lease agreement. By reading this document, which is published by the NSW Office of Fair Trading, they will ensure that they are fully aware of their rights and responsibilities and also know about the obligations that their landlords have towards them. Students and first time renters must understand the laws that govern the making of a tenancy agreement and a rental bond in New South Wales. It is advisable for them to get information regarding NSW Rental Board, Tribunal, Lease Agreement and Tenancy Act before moving into rental properties.

NSW Rental Bond Board

Despite the fact that a rental bond is not mandatory in NSW, landlords usually insist on it and a tenant has no option other than to pay for the same. According to the Bond Law, the landlord cannot charge more than four weeks rent for unfurnished apartments. In case a fully furnished apartment with the rent not exceeding $250 a week, the maximum limit for the amount of bond is six weeks rent. There is no upper limit for a fully furnished apartment rented at more than $250 a week. Moreover, the rental bond must be paid in cash and the amount must be mentioned on the tenancy agreement.

The amount of bond does not go to the landlord, but is held by an independent custodian known as the Rental Bond Board. The board is created and administered by the NSW Fair Trading for keeping the rental bonds paid by tenants for residential tenancies. NSW Rental Bond Board provides services pertaining to rental bond lodgement, custody, refund and information. A lodgement form exists to send the bond paid to NSW Fair Trading. The landlord or real estate agent must fill this form and submit the same within seven days. Call at 13 32 20 or visit any Fair Trading Centre to obtain the rental bond form in NSW.

NSW Rental Tribunal

The bond accrues interest as long as it remains with the NSW Rental Bond Board. At the end of the tenancy, when the final inspection is done, the bond is refunded to the tenant unless the landlord or agent makes a claim for themselves as per the clauses of the lease agreement. They may get some or all of the bond if you have damaged the property, breached the agreement or have not paid the rent. NSW Rental Tribunal exists to sort out any conflict regarding the refund of the bond amount.

The Claim for Refund of Bond Money form can be submitted to Fair Trading by you or your landlord upon the expiry of lease agreement. The other party is informed of the claim and is advised to counter claim, if at all it is required, to the Consumer, Trader and Tenancy Tribunal within 14 days. If no reply is received from the other side within this time frame, the bond is paid to the party who has claimed it for the first time. If you have any questions about NSW Renal Tribunal and how you can get your problem solved here, dial 13 32 20.

NSW Rental Agreement

NSW Rental Agreement form, officially known as Residential Tenancy Agreement and Condition Report Form, can be downloaded in PDF format from the website of the Office of Fair Trading. For a lease agreement that does not exceed more than three years, Schedule 1 Standard Form Agreement can be used. Tenants are also advised to go through Residential Tenancies Act 2010 before attempting to fill the agreement form or move into a rental property. NSW Rental Agreement mentions clearly the duration of tenancy, the rent you must pay, the amount of rental bond and all the terms and conditions applicable during your stay at the rental premises and when the lease is ended. It is also a legal document to record the exact condition of the property when you move in and move out of it. It also addresses issues concerning rental increase and the requisite notice period needed for the any proposed increase in rent. During bond refund settlement process, the lease agreement becomes vitally important. In short, NSW Rental Agreement is a legal contract between a tenant and the landlord that defines their mutual behavior towards each other during the entire period of tenancy.

Rental Properties in NSW

To search rental properties in New South Wales, browse our website and use the resources given on its various pages. You will find here updated information on the rental markets of Armidale, Newcastle, Orange, Griffith, Hunter Valley in Singleton, Gloucester, Richmond, Sydney Region, Parkes, Central Coast, Goulburn and Coffs Harbour.
 
NSW Fair Trading
Get complete information NSW real estate Rental Laws, Act, Tribunal, Bond and Agreement from this official website...

Website:http://www.fairtrading.nsw.gov.au/
 
Rent a Home
Use the resources provided here search for rental properties in Sydney, Central Coast, Singleton and several other locations in NSW...

Website: http://www.rent-a-home.com.au/
 
Elders Real Estate
Find rental homes in Coffs Harbour, Orange, Newcastle, Armidale, Richmond, Gloucester, Goulburn, Griffith and Hunter Valley in Singleton.

Website: http://www.elders.com.au/


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