Getting the Basics Right with the 'Big 4'

Many property owners prefer to cut out the real estate agent (and their fees) and simply self-manage their property themselves. Renting out your own property is certainly not rocket science, and can be an extremely rewarding experience (both financially and personally) but it is worthwhile getting the basics right so that you and your tenant are set-up for success.

Whilst each state in Australia has their own government agency and regulatory requirements to comply with, there are some consistent themes regarding the approach to renting out your own property. This article aims to provide readers with a quick reference guide on where to go and what to do when starting out.

Of course, our aim is to make this a seamless, frictionless experience for you and your tenant by including the necessary documents and compliance into our process – you can register here for a demo.

Starting a lease typically consists of 4 key elements, which have slightly different names depending on which state you are operating in, but ultimately have a similar intent and outcome.

What do I need to know before privately renting my property?

Guide – A guide or checklist provides the tenant with a range of helpful items that they should know or understand before signing a lease
Lease – A residential tenancy agreement (or lease) is the legal contract and terms and conditions between the owner and the tenant
Bond – A rental bond is a security deposit a tenant pays at the start of a tenancy which is then lodged with the state government agency
Condition report - This report records the general condition of the property, on a room by room basis, and is signed within the first 7 days of the lease by both the owner and tenant

You can find a state-by-state guide below.

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New South Wales (NSW)

Office of Fair Trading - Phone 13 32 20

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Guide (click here) - to be provided to tenants prior to signing a lease
Lease (click here) - to be completed and witnessed with tenants
Bond (click here) - Register with Rental Bonds Online to access bond lodgement capability electronically or to download a paper-based form
Condition report (click here) - to be completed by the tenant within 7 days of moving in

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Queensland (QLD)

Residential Tenancy Authority - Phone 1300 366 311

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Guide (click here) - some of the basic rules of renting in Queensland
Lease (click here) - to be signed prior to, or within five days of moving in
Bond (click here) - download a paper-based bond lodgement form
Condition report (click here) - to be completed at the start of the tenancy

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Victoria (VIC)

Consumer Affairs Victoria - Phone 1300 55 81 81

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Guide (click here) - new tenant checklist and tenancy guide for Victoria
Lease (click here) - to be signed and with no cooling off period
Bond (click here) - All rental bonds for properties in Victoria must be lodged with the Residential Tenancies Bond Authority
Condition report (click here) - to be completed at the start of the tenancy

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Western Australia (WA)

Department of Commerce - Phone 1300 304 054

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Guide (click here) - Landlord and tenant guides for Western Australia
Lease (click here) - Residential tenancy agreements
Bond (click here) - All rental bonds for properties in WA must be lodged via the BondsOnline system
Condition report (click here) - to be completed at the start of the tenancy

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South Australia (SA)

Consumer and Business Services - Phone 13 18 82

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Guide (click here) - Landlord and tenant brochure for SA along with landlord information to be provided to the tenant
Lease (click here) - Residential tenancy fixed-term agreement
Bond (click here) - Register and lodge rental bonds online or using a paper-based form
Condition report (click here) - to be completed at the start of the tenancy

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Australian Capital Territory (ACT)

Access Canberra - Phone 13 22 81

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Guide (click here) - The Renting Book outlining tenant and landlord rights and responsibilities in the ACT
Lease (click here) - Standard residential tenancy agreement
Bond (click here) - Bonds may be lodged via email or mail using a paper-based form
Condition report (click here) - to be completed within 2 weeks of moving in

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Tasmania (TAS)

Consumer Affairs and Fair Trading - Phone 1300 65 44 99

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Guide (click here) - The Rental Guide for landlord and tenants in Tasmania
Lease (click here) - Ask us for a copy of a template residential tenancy agreement
Bond (click here) - Bonds may be lodged in person or via mail using a paper-based form
Condition report (click here) - to be completed at the start of the tenancy

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Northern Territory (NT)

Consumer Affairs - Phone 1800 019 319

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Guide (click here) - Guide to renting in Northern Territory for landlords and tenants
Lease (click here) – Ask us for a copy of a template residential tenancy agreement
Bond (click here) - Bonds paid to private landlords are held by them in trust
Condition report (click here) - to be completed within 3 days of the start of the tenancy

Manage 'The Big 4' on the RentBetter Platform

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Use the RentBetter platform to easily manage 'the big 4' on RentBetter. The platform enables you to advertise on Australia's leading property sites (RealEstate.com.au, Domain.com.au & Rent.com.au) so you can find a great tenant.

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Once you've found a tenant, you can create and send your lease agreement from the platform directly to your tenants where you can sign digitally. Manage your property and tenant relationship with access to a host of tools, right at your fingertips:

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Set up and organise bond payments
Conduct digital condition reports (or hire a pro to do it for you)
Collect, manage and provide receipts for rental payments
Track expenses & automate reports (including EOFY)
Instant message your tenant on platform
Extend or end your lease agreement at the click of a button
Store all your important docs in one place
Schedule repairs & maintenance
Organise routine inspections
Receive automatic reminders, payment notifications and prompts – so you don’t have to waste time thinking about it.

Renting Out Your Property Without An Agent: Tackling the 'Big 4'