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Submitted 2011-09-23 19:00:35
When you are dealing with real estate there a number of problems you can face. The most difficult part in renting out of properties is to find good tenants. That leads to a question; what is a 'good tenant'? A good tenant is someone who does not delay rental payments and takes good care of the property, such as maintaining the household and the surrounding landscaping. Landlords are often reluctant to hand over their property to complete strangers with inadequate credit history for fear of running after the rental payments and having damage done to their property. To make the leasing more secure, landlords make use of the rental bonds.
Landlords seek security from rental bonds which protect them from potential losses brought about by property damages and unpaid rental charges. It is not a compulsory requirement, but many landlords ask their tenants to pay rental bonds at the beginning of their lease period. The documentation and other procedures associated with arranging rental bonds are carried out by experienced property managers. They are better able to guide you with the rates and details as they are more aware of the laws and regulations that may vary from region to region.
Once you (or your property manager) obtain the rental bond funds, they are required to be handed over to the Residential Tenancies Authority, or RTA, within 10 days of collection. A bond lodgment document is also sent along with the funds, completely filled and signed by the tenant. The RTA will process the application and send confirmation to you and your tenant. Upon maturity of the lease, the property shall be checked for any possible damages other than the normal wear and tear, as well as for any payments which are yet to be received. Upon complete satisfaction, the funds will be returned to the tenant by the RTA.
When preparing the terms of lease, rental bond charges are to be carefully calculated. In Queensland, if the rental payment is equal to or less than $700 per week, rental bond amount has to be equivalent to four weeks' worth. For rents more than $700 per week, there is no maximum. If the tenant finds it difficult to arrange for the lump sum funds, installments at times can be arranged.
Rental bond is essentially a financial security provided to the landlord at the time of leasing to ensure there are no issues regarding collection of rents on time and the property is kept safe and free from damages. Landlords have to consider a number of factors before leasing out their properties, such as the ongoing property maintenance, and sound risk management to get the maximum returns.
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By: Eva Judge
When you are dealing with real estate there a number of problems you can face. The most difficult part in renting out of properties is to find good tenants. That leads to a question; what is a 'good tenant'? A good tenant is someone who does not delay rental payments and takes good care of the property, such as maintaining the household and the surrounding landscaping. Landlords are often reluctant to hand over their property to complete strangers with inadequate credit history for fear of running after the rental payments and having damage done to their property. To make the leasing more secure, landlords make use of the rental bonds.
Landlords seek security from rental bonds which protect them from potential losses brought about by property damages and unpaid rental charges. It is not a compulsory requirement, but many landlords ask their tenants to pay rental bonds at the beginning of their lease period. The documentation and other procedures associated with arranging rental bonds are carried out by experienced property managers. They are better able to guide you with the rates and details as they are more aware of the laws and regulations that may vary from region to region.
Once you (or your property manager) obtain the rental bond funds, they are required to be handed over to the Residential Tenancies Authority, or RTA, within 10 days of collection. A bond lodgment document is also sent along with the funds, completely filled and signed by the tenant. The RTA will process the application and send confirmation to you and your tenant. Upon maturity of the lease, the property shall be checked for any possible damages other than the normal wear and tear, as well as for any payments which are yet to be received. Upon complete satisfaction, the funds will be returned to the tenant by the RTA.
When preparing the terms of lease, rental bond charges are to be carefully calculated. In Queensland, if the rental payment is equal to or less than $700 per week, rental bond amount has to be equivalent to four weeks' worth. For rents more than $700 per week, there is no maximum. If the tenant finds it difficult to arrange for the lump sum funds, installments at times can be arranged.
Rental bond is essentially a financial security provided to the landlord at the time of leasing to ensure there are no issues regarding collection of rents on time and the property is kept safe and free from damages. Landlords have to consider a number of factors before leasing out their properties, such as the ongoing property maintenance, and sound risk management to get the maximum returns.
Author Resource:->??eProperty Rentals http://http://www.epropertyrentals.com.au/ have licensed property managers Brisbane with experience in all issues related to real estate Brisbane.
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