Residential Tenancy Agreements in Victoria: What You Need to Know
Renting a property in Victoria? Then you need to know about the Residential Tenancy Agreement (RTA). The RTA is a legally binding contract between a tenant and a landlord, outlining the terms and conditions of their tenancy. It is essential that you understand your rights and obligations before signing a tenancy agreement.
Here are some key things to know about residential tenancy agreements in Victoria:
1. The Agreement Must Be in Writing
In Victoria, a tenancy agreement must be in writing, and both the landlord and tenant must sign it. The agreement should outline the important terms and conditions, such as the rent amount, length of the tenancy, and any additional requirements.
2. The Rent Can Only Be Increased Once Every 12 Months
In Victoria, landlords can only increase the rent once every 12 months. The increase amount must be within the guidelines set by the Residential Tenancies Act. If a landlord wants to increase the rent, they must provide the tenant with at least 60 days` notice in writing.
3. Bond Must Be Paid
A bond is a security deposit taken by the landlord to protect against any damage or unpaid rent at the end of the tenancy. In Victoria, the bond cannot be more than four weeks` rent. The landlord must lodge the bond with the Residential Tenancies Bond Authority within 10 days of receiving it.
4. The Property Must Be in Good Condition
The landlord must ensure that the property is in a good condition before the tenant moves in. This includes ensuring it is clean, in good repair, and that all the appliances are in working order. The landlord must also provide a condition report to the tenant before they move in.
5. The Tenant Has Obligations Too
Tenants also have obligations under the Residential Tenancies Act. This includes paying rent on time, keeping the property clean, not causing damage, and using the property only for its intended purpose.
6. There Are Rules About Ending the Tenancy
If the tenant or landlord wants to end the tenancy, they must provide the other party with notice in writing. The amount of notice required depends on the circumstances, but can range from 14 days to 120 days. There are also rules about ending a tenancy due to a breach of the tenancy agreement.
In summary, a Residential Tenancy Agreement is an important legal document that outlines the terms and conditions of a rental property. As a tenant or landlord, it is important to understand your rights and obligations before signing an agreement. By following the rules set out by the Residential Tenancies Act, both parties can have a successful and stress-free tenancy.