Udy Realty Offer Guidelines For Tenants Renting Property Through Them

Udy Realty are property management specialists and this month they are concentrating on the role of the tenant in the agreement they sign when they rent a property. Udy Realty have a very useful Welcome to Your New Home e-booklet which you can download from their website, with some helpful guidelines to being a good tenant.

One of the first things tenants need to understand is paying the bond. The rental bond is requested as financial protection should there be a breach in the tenancy agreement. Your rental bond will be lodged with the Residential Tenancy Bond Authority, and is held as security against any property damage, undue wear and tear, or in the event there is money owing at the end of tenancy. Once it is established that all conditions of the tenancy have been met, the bond will be refunded promptly. The amount of bond payable is specified in the tenancy agreement. Please note, the bond required may increase where there is a rent increase. As the primary tenant of the property, it is YOUR RESPONSIBILITY to ensure rent is paid in full and on time and that the property sustains no damage. If damage does occur and rent is not paid, it will be YOUR bond which is claimed against.

Once any outstanding issues have been addressed and when the tenant and Landlord/agent agree that the bond should be paid out, a bond refund form will need to be completed and signed by both parties. The document is then forwarded to the Bond Authority requesting the release of all bond monies held against the tenancy.

Another important issue for the tenant to understand is insurance. The Landlord is responsible for insuring the property; however the Landlord is not responsible for any damage to any tenants’ possessions. Tenants should take out their own contents insurance for their possessions.

Next month we will look at several more aspects of renting, from the tenant’s point of view, so for more information on Harcourts property management, residential rentals and home rental services please visit the website at http://www.udyrealty.co.nz .