Question about the rental bond

We will be moving into our first home after a week when the tenants there vacate the unit. The real estate will do the final inspection and said we can be present during the inspection.

As far as I understand, the real estate will check the current condition of the premises against the condition report of the unit when the tenants first moved in.

* If you can give us tips/advice on conducting the inspection, that will be highly appreciated.

* What are the things, as a owner - whether or not we can be present during the inspection, do we need to keep in mind before releasing the bond?

* If the condition of the unit is not satisfactory, how much can we deduct from the bond? Can the real estate advise us on that or do we have to know that ourselves?

* Whatever amount is being deducted from the bond, does the real estate have to transfer that money into our account if we decide to fix/clean the unit ourselves? How does this all work?

* Any other tips/advice?
 
You MUST allow for fair wear and tear. Minor marks, scuffing etc must be allowed for. No property stays in "as new" condition for long, no matter how careful the owners or tenants.

You can't simply keep an amount if the agent (not you) is not happy that the tenants have fulfilled their obligations. You must give the tenants a chance to make good any defect. If not, you will have to produce a receipt to claim on the bond, therefore professionals should be called in.
Marg
 
Get a copy of the original signed inspection report!

Dear Atsmoi,
ask the managing agent for a copy of the original signed inspection report!
You must use this document!
it will be 'as written in the bible' or what ever if it is signed by the agent and the tenant!
That way no one can claim it wasn't me who did the damage!
Having said that, if there is any damage you could get a quote to repair, and deduct it off the bond......
Also, the tenants won't clean it a well as you will, even though it says 'clean' on the inspection report.... but dont let that dampen your excitement at being in your own place
Congrats with your new purchase!
Seaford Sunshine
 
Unfortunately nothing you do yourself is claimable. All work must be carried out by a third party and invoiced accordingly.
 
Unfortunately nothing you do yourself is claimable. All work must be carried out by a third party and invoiced accordingly.

Are you positive on this?
For the record, I haven't looked either, but many times what we have been told, or assume ..is't so....



We thought the same thing (canada)
but we were mistaken. We were permitted to claim a reasonable amount for our labor.

For tax deduction purposes, any work we do is not deduction for any general repair and maintenance.
 
We thought the same thing (canada)
but we were mistaken. We were permitted to claim a reasonable amount for our labor.

I lodged a claim in the QLD Courts and was advised that it was not claimable. The ATO also advised it was a private expense and could not be claimed as a tax deduction. I guess the real issue is, a claim for your own labour is hard to justify and open to abuse.

Cheers,
Adrian.
 
I lodged a claim in the QLD Courts and was advised that it was not claimable. The ATO also advised it was a private expense and could not be claimed as a tax deduction. I guess the real issue is, a claim for your own labour is hard to justify and open to abuse.

Cheers,
Adrian.

We have been awarded it , and usually they ask us how we come to that amount.
We inform them it took us xx hours at $$ an hour.
I guess our rates and time were reasonable.

In the Qld Courts, could they show you where it says it is not permitted?
It might be a bit of research, but you may be able to find the answer..if it means anything to you.
Sometimes getting a quote for the work or cleaning...might be just enough?
 
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