Self Manage Legalities

From: Aaron Dwyer


Hi all

I'm planning on commencing self managing a rental this weekend and would like to know how many of you self managers out there use an application form to assist with screening.

I've previously been lucky to rent to family and hence haven't needed an application form.

Rental Hotline has a good one, however they mention that the tenant needs to sign off on an Authority to Obtain Tenant Information Form.

This sounds like I might be opening myself up here for problems if I do up an application form.

Any advice for me on this??

Thanks
Aaron
--
Aaron Dwyer
~ To know and not to do, is really not to know at all.
 
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Reply: 1
From: Nigel W


On 7/11/02 10:55:00 PM, Aaron Dwyer wrote:
>Hi all
>
>I'm planning on commencing
>self managing a rental this
>weekend and would like to know
>how many of you self managers
>out there use an application
>form to assist with screening.
>
>I've previously been lucky to
>rent to family and hence
>haven't needed an application
>form.
>
>Rental Hotline has a good one,
>however they mention that the
>tenant needs to sign off on an
>Authority to Obtain Tenant
>Information Form.
>
>This sounds like I might be
>opening myself up here for
>problems if I do up an
>application form.
>
>Any advice for me on this??
>

Hi Aaron

Unfortunately we live in an increasingly over-regulated society. Whilst the fact that the law is constantly changing and evolving keeps the lawyers in work it makes it hard for people to know what their rights and obligations are...which is a bit hard given that ignorance of them is no defence.

I won't give you "advice" but make a couple of observations:

1) use a form, if for nothing else than to gather the prospective tenant's details
2) The property owners association in your state or territory should have some forms you can buy for about 50 cents a pop
3) a number of real estate books have a sample tenancy application form in them - one that springs to mind is John Fitgerald's book...seven steps to wealth (or something like that). Whilst none of these forms are ideal, they'll do the job at short notice.
4) You should have a form and call the people they list as referees and work colleagues - sure it's not foolproof but at least it presents a professional front. You will definitely need to make the mindset leap from an informal relationship with family tenants and a professional, arm's length business relationship with third parties.
5) if you know what you're doing (or at least look like you do) you'll get less grief from your tenants as they know you won't be mucked about.
6) There are some privacy act issues relating to both your storage and use of information and ability to seek confirmation of financial information they put down...largely you should fly under the radar of the Privacy Act by dint of being a small business (I'm making some big assumptions here...) but the issue about checking financial details they give can be got around via a consent.
7) probably the most important thing is to get some details of where they've rented before, who from and call those people. Again, they may lie, but in my experience you can pick people who gild the lily.
8) at the risk of stating the obvious, you cannot discriminate (and hence ask questions about) things like race, sexual preference, religious beliefs, disabilities etc...
9) if it's more than 2 pages I suspect it's too long...

So, don't get too stressed about ULD's ("unidentified legal difficulties"). Just do a simple form which collects all the info you'd like to have to assess whether this person is someone you want as a tenant and who has the ability to meet their monetary and other obligations to you under the lease.

Good luck with it
N.
 
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Reply: 1.1
From: Aaron Dwyer


Thank you Nigel. Much appreciated.

--
Aaron Dwyer
~ To know and not to do, is really not to know at all.
 
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Reply: 1.1.1
From: Will G


Have you considered using an Agent to rent the place out, lodge bond moneys and get the legals done correctly. You can then manage the place and pay bills yourself on a week to week basis?

Will
 
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Reply: 1.1.1.1
From: .watto .


Hi Aaron,

Do a search for a post by JOANNA KARAVASILIS THE RENTAL SPECIALISTS, APPLICATION FOR TENANCY. Joanna posted a form in word doc format. Also a blank lease agreement doc was posted as well.

I have a saved copy of both and if Joanna doesn't mind i will forward it on or repost it here....


Cheers
watto
Melb Freestyler
 
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Reply: 1.1.1.1.1
From: Aaron Dwyer


I've done one up myself for this weekend and just sighted your post.

I can't locate Joanna's doc (I have major trouble with this search engine)

If you wouldn't mind sending it to me or reposting it. Might be able to use it next time.

Ta.
Aaron.
--
Aaron Dwyer
~ To know and not to do, is really not to know at all.
 
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Reply: 1.1.1.1.1.1
From: .watto .


Ohh well Joanna hasn't complained so here they are...

I hope they are of some use to you....


Cheers
watto
Melb Freestyler
 
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Reply: 1.1.1.1.1.1.1
From: Joanna K


Hi All,

I certainly don't mind those documents re-posted on the forum.

Just make sure to read through it properly so my name doesn't appear anywhere, and if anyone needs help with them feel free to drop me a line.


Kind regards

JOANNA
 
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