self managed PM on IP

[lisag]

Hi guys
Sorry if there are any similar postings.
I am interested in not going through PM on my IP, for my situation, & interested tenant is ok as well. Can you obtain generic rental contracts or go through legal person ie, lawyer / Solicitator?
Any advice on the legal side?
Thanking in advance

 

[Shahin_Afarin]

Hi Lisa,

You need to download the tenancy agreement form from the fair trading website. Both you and the tenant need to complete and sign the form.

 

[Jamie M]

You need to use the standard tenancy agreement applicable to your state.

It doesn't matter how good the tenants seem - you still need to treat it as a business.

Prepare a condition report, take photos of the property and schedule routine inspections.

If anything goes pear shaped, follow the processes and document everything.

Cheers

Jamie

 

[Scott No Mates]

You must also lodge the bond with the Office of Fair Trading. http://www.fairtrading.nsw.gov.au/Tenants_and_home_owners/Renting_a_home.html

Also see OFT Forms