- Residential Tenancy/If you are renting out a residential property then it is extremely important you have a formal tenancy agreement in place, without it you have no record of the agreed to conditions, term, payments, bonds or repercussions if something goes wrong.
Even if the tenant and landlord are family or friends we strongly recommend you have a formal Residential Tenancy Agreement in place. You can never tell what is going to happen in the future and a formal agreement can prevent the situation becoming worse than it has If you are in New South Wales or Victoria then make sure you use the document for your state, these Residential Tenancy Agreements are different to that used in other states/territories/ These Agreements are suitable for any type of property except where there are shared facilities (such as a retirement Sometimes if the property is based in Queensland people look to use an “REIQ Rental Agreement” or an “REIQ Tenancy Agreement”. If the property to be tenanted is based in Queensland, the document you require is based on a common statute across all states/territories in Australia. This is the case for all starts/territories with the exception of New South Wales and Victoria which have separate Residential Tenancy Agreements.
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