Rent by Owner

[MelbInvester]

HI,

What is the process in rent by Owner? I know 4 weeks Bond but two weeks rent in Advance or 4 weeks? then every two weeks rent payments?


MI

 

[EN710]

HI,

What is the process in rent by Owner? I know 4 weeks Bond but two weeks rent in Advance or 4 weeks? then every two weeks rent payments?


MI

Depends on where the property is.

In NSW you can only ask max 2 weeks in advance. More than that the tenant need to agree.

 

[Nick Valsamis]

I'd say he's in Melbourne.

However on the NSW one, you actually can't ask the tenant to pay more than 2 weeks in advance. They can only offer on their own free will.

 

[S.T]

Good idea to start reading up.

http://www.consumer.vic.gov.au/hous...ginning-a-lease-or-residency/lodging-the-bond

If the rent is $350 a week or less, the bond cannot be more than the equivalent of one months rent.