Hi guys,
Had a quick search of the archives but couldn't find anything on this:
I have one of my (three) tenants on the current lease moving out of my self-managed IP and a new tenant moving in. All three tenants are on the same lease and I am wondering what the process is for making sure I dot my i's and cross my t's in terms of paperwork etc. FYI the rental is in WA and has about 6months left on the lease. I'm assuming the way forward would be this:
1) Issue new lease to be signed by all three tenants (two existing and one new), with lease start date as current date and finish date as previous finish (6 months).
2) 'Tear up' (ok maybe not literally) old lease once new one signed.
3) Change bond lodgement form/details so current tenants are on it. - the outgoing tenant has just gotten their bond back from the other tenants, to be reimbursed by the new tenant who arrives, in terms of me having bond paid this sorts everything out, however I'm presuming I am also required to 'make it official' with the authorities by changing the bond holders or refunding and then redepositing a new bond?
Please let me know if this is the way it's done in WA. One other possible complication is that the previous lease was issued under the old RTA, with the new act coming in since being signed, so if I issue a new lease for the remainder of their 6months it will actually be under new terms (given that the new RTA takes away some rights from the landlord, as far as I can recall).
Any advice is much appreciated. Cheers!
Had a quick search of the archives but couldn't find anything on this:
I have one of my (three) tenants on the current lease moving out of my self-managed IP and a new tenant moving in. All three tenants are on the same lease and I am wondering what the process is for making sure I dot my i's and cross my t's in terms of paperwork etc. FYI the rental is in WA and has about 6months left on the lease. I'm assuming the way forward would be this:
1) Issue new lease to be signed by all three tenants (two existing and one new), with lease start date as current date and finish date as previous finish (6 months).
2) 'Tear up' (ok maybe not literally) old lease once new one signed.
3) Change bond lodgement form/details so current tenants are on it. - the outgoing tenant has just gotten their bond back from the other tenants, to be reimbursed by the new tenant who arrives, in terms of me having bond paid this sorts everything out, however I'm presuming I am also required to 'make it official' with the authorities by changing the bond holders or refunding and then redepositing a new bond?
Please let me know if this is the way it's done in WA. One other possible complication is that the previous lease was issued under the old RTA, with the new act coming in since being signed, so if I issue a new lease for the remainder of their 6months it will actually be under new terms (given that the new RTA takes away some rights from the landlord, as far as I can recall).
Any advice is much appreciated. Cheers!