landlord/tenant relationship and discrepancy between the agreed rent
We recently came to the aid of a landlord where the landlord had rented and managed his own property in Seven Hills to the same tenant for nearly 2 years. The tenant became aware that there was a discrepancy between the agreed rent and the rent stated on the RTA (Residential Tenancy Agreement), and as such stopped paying rent and made a claim against the owner for overpaid rent. It also came to light that other areas of the agreement could also be seen as contentious.
The Residential Tenancy Agreement is a form that is completed by (or on the behalf of) the landlord and signed by both the landlord and tenant. This form states the rent amount, bond amount, method of payment along with other important tenancy information. A copy of this form has to be given to the tenant at the start of tenancy and whenever any changes are made.
Some landlords think that managing the property themselves can save them the cost of the agent’s fees or that it can also help build a more direct relationship with their tenant. This may work if you live nearby and have the spare time to do all the work (Such as organising repairs, inspecting the property or going to the NSW Civil and Administrative Tribunal when needed). You also have to know your way around the tenancy laws.
However, if you don’t live near the property, are busy and especially if don’t know the laws very well, then using an agent may be a more sensible option.
In the case of this particular landlord, what had started out as a healthy landlord/tenant relationship had deteriorated to a point where the matter is now before the C.T.T.T. (Consumer Trader & Tenancy Tribunal) with the outcome yet to be decided.
The Seven Hills landlord has realized however, that any saving of managing a property himself has cost him much more in time, money and effort as he was not fully aware of current obligations under the Act.
It is worthwhile for any landlord to take the time to select the right agent to manage their property. The key points are to verify that they are fully licenced and that they are experienced in the Residential Tenancies Act 2010. If you would like to ask us any questions about similar issues or need help with managing your property please give us a call.
About Jhai Mitchell
Jhai is an award winning Internet Marketing Real Estate Agent for Elders Toongabbie and Kings Langley. After running his own internet marketing business he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to market themselves online. Jhai is now fixed on one goal. To teach real estate agents that they can market online so much better than they currently are.
Since then he has been consistently quoted in the Sydney Morning Herald and Real Estate Business online. He is a regular guest blogger on TheHomePage.com.au, sharing his expertise of marketing aspects for the Real Estate Industry. His biggest passions are his wife, martial arts, dogs and most of all property.