Help filling in a leasing and managing authority form

[rowena]

going through a R/E to lease a property i have in VIC.

I have received a exclusive leasing and managing authroity form for residental property and this is the first time I have used a R/E agent so have two questions so far:

Question 1:

Rental Bond - to be lodged with RTBA, the agent has put the amount in $ (which is 4 weeks as per the current rental amount on the contract), however R/E has crossed out the section "Weeks (specifiy) rental (refer RT Act 1997 - s.31(3).

I would of thought 4 weeks was standard. If i sign off on the $ amount, and say i increase rent in the future or have new tenants with increased rent, would this mean the agent would only claim the original amount for RTBA that is signed in this section? So the $ amount, as opposed to 4 weeks rent at the new price

Do I just put a tick next to the 4 weeks and initial it even though there is a line through it?


Question 2:

There are sections such as Marketing expenses/advertising and same with releasing fee section, which is completely blank. Should I be putting a line through this to show that this is nil or 0 or be writing something else in there or just leave it blank?



I will be taking a scanned copy before i send back to R/E to show there was nothing in there even though i do have a seperate copy of the same contract.


Thanks

Rowena

 

[tobe]

Id just get them to send me another copy with everything filled out. And then Id cross out a couple of things, like reletting fees, excessive sundries etc etc

 

[Lil Skater]

Hi Rowena,

Section 31 refers to the maximum bond payable, which is usually 1 calander months rent. Although in certain circumstances can be a nominated amount (rent over $350pw or your PPOR).

Don't worry about the bond, if you increase the rent you can't increase the bond, but when you have a new tenant it should be in line with the new rental amount.

Everything for re-leasing should be filled out. If you like you can PM me a copy and I can have a look at it for you.

Cheers,
Sam

 

[rowena]

Thanks Sam,

I have sent you a PM.

 

[StevefromMRE]

should be 100% completed

Most reputable agents use the online authority software that the REIV provides and they understand that if its not complete, its not valid. I would suggest a min 5 weeks bond if the rent is above $350pw - why not have the extra security? Happy to help clarify via PM