If you`re looking to rent a property in NSW, it`s important to be familiar with the residential tenancy agreement that governs the rental process. A residential tenancy agreement is a legally binding contract between the tenant and the landlord that outlines the terms and conditions of the rental arrangement. In 2018, the NSW government made significant changes to the residential tenancy agreement, which has implications for both tenants and landlords.
One of the most significant changes to the residential tenancy agreement in NSW in 2018 was the introduction of a standard form agreement. This means that all residential tenancy agreements in NSW must use the standard form agreement, which is available on the NSW Fair Trading website. The standard form agreement includes standard terms that cannot be altered, but also allows for additional terms to be added that are specific to the rental arrangement.
Some of the key standard terms included in the residential tenancy agreement in NSW in 2018 include:
– Rent amount and payment details: The agreement must outline the amount of rent to be paid, how often it is to be paid, and the payment method. It must also include details about any rent increases and how much notice will be given before a rent increase takes effect.
– Duration of the tenancy: The agreement must specify the start and end dates of the tenancy, as well as any options for renewal or extension.
– Bond amount and use: The agreement must outline the amount of bond to be paid, how it will be held, and the circumstances under which it can be deducted at the end of the tenancy.
– Responsibilities of the landlord and tenant: The agreement must outline the responsibilities of the landlord and tenant, including maintenance and repairs, utility bills, and any other relevant obligations.
In addition to the standard terms, the residential tenancy agreement in NSW in 2018 also allows for additional terms to be added that are specific to the rental arrangement. However, any additional terms must be fair and reasonable, and cannot contradict or override the standard terms.
Overall, the changes to the residential tenancy agreement in NSW in 2018 aim to provide greater clarity and protection for both tenants and landlords. By using the standard form agreement and ensuring that all terms are fair and reasonable, both parties can enter into a rental arrangement with confidence. It`s important to read and understand the residential tenancy agreement thoroughly before signing it, and to seek legal advice if you have any questions or concerns.