Understanding Rental Costs and Fees

Security Deposit (Bond): At the beginning of your tenancy, a security deposit equivalent to 4 weeks’ rent is collected and held in trust by the Residential Deposit Authority. This deposit acts as insurance for the landlord against rental arrears, property damage, or if the property is left in an unclean condition. Upon the conclusion of your lease, provided the property shows only reasonable wear and tear, the full deposit amount will be refunded to you.

Advance Rent Payment: Prior to the lease start date, Jenkins & Co requires payment of the first two weeks’ rent.

End-of-Lease Procedures

When your fixed-term lease approaches its expiration date, which is specified in your tenancy agreement, your Property Manager will contact you well in advance. They will discuss the possibility of renewing your lease for a mutually agreed-upon period with your landlord. If your fixed-term lease ends without renewal, your tenancy will automatically convert to a periodic tenancy.

If you wish to extend your lease before it ends, you can request a renewal from your landlord or Property Manager. The landlord may choose to renew the lease, continue it under the existing terms, or issue proper notice for you to vacate the property.

Early Termination of Lease

If you find yourself needing to end your lease before its scheduled end and a suitable replacement tenant cannot be secured, you will be responsible for reimbursing the landlord for reasonable expenses incurred in finding a new tenant. Rent payments remain your responsibility until a new tenant signs a tenancy agreement. Both you and the landlord/Property Manager can actively search for a replacement tenant, ensuring that any new tenancy adheres to legal procedures.

Landlord’s Right to Sell and Tenant’s Right to Stay

When the property you’re renting is sold, it’s crucial to understand how this affects you:

Landlord’s Selling Authority: Regardless of your lease type, the landlord has the authority to sell the property.

Tenant’s Right to Remain: As a tenant, you have the option to remain until your fixed-term lease ends or for at least 42 days from the sale notice in a periodic tenancy.

Liability for Personal Belongings Damage

You are responsible for your personal belongings. The landlord is not accountable for any damage, loss, or theft of your items. It’s advisable to maintain adequate contents insurance to protect your possessions.

Obtaining Approval for Property Modifications

Before proceeding with any alterations, such as installing picture hooks, it is essential to obtain approval from your Property Manager. Submit your request in writing for review by the landlord. Any approved changes may involve costs that you are responsible for, unless otherwise specified by your landlord.

If you have any queries or uncertainties, please feel free to contact your property manager. For detailed information on renting regulations, you can also refer to the Tasmanian Rental Guide.