What you should know before downloading and signing rental property tenancy agreement?
Once your tenancy application is accepted, we will make a time to meet you at our office to sign the tenancy agreement. Here are some key points you need to know about the New Zealand Tenancy Agreement, please ensure you take the time to read through the agreement and check with your property manager if there is anything you don’t understand.
We will collect a bond for the property before you move in, equivalent to 3-4 weeks rent. This bond will be lodged at the Department of Building & Housing and released back to you at the end of your tenancy. It takes both of our signatures to release the bond at the end of the tenancy, so both parties must agree to how the money is distributed.
There are two types of tenancies fixed and periodic. It is important that you understand what both mean and your responsibilities under each tenancy.
Most tenancies at Fahey Property Management (FPM) are Fixed Term. Why? We offer fixed term contracts to our tenants giving you peace of mind knowing you have your home for a certain period of time and (in most cases) will be offered an extension. Fixed term leases are generally 6-12 months, and you can negotiate this with your property manager.
During your fixed term tenancy, neither party can give notice to vacate. Either party can give you no less than 21 days at the end of the tenancy. We will contact you before the end of your fixed term tenancy and ask if you would like to stay at the property or vacate.
A Periodic tenancy has a start date but no end date. If you are going to sign a Periodic Tenancy you can give us 21 days notice to vacate, in writing, at any time to vacate the property. The owner can give you 90 days notice to vacate, at any time and they do not need to specify a reason. The owner can give you 42 days notice if they (or a family member) wish to move in to the property or if they receive an unconditional offer of sale.
Move in Inspection Report
Before you move in to your new home, your property manager will complete a detailed move in inspection. This involves the property manager assessing the current condition of each room, the external building and gardens. You will receive a copy of the report before you move in and have two weeks to make any necessary changes or raise concerns that you may have with any aspect of the property or the report. After this time, we will take that as your acceptance of the report. At the end of your tenancy we will use this report to ascertain if there was any damage to the property during your tenancy. It is therefore, very important that you take some time to look through and add anything we may have missed.
Your tenancy agreement requires that you pay your rent in advance and on time. For example, if you move in on a Saturday, your rent starts then and is due each Saturday thereafter. We suggest you arrange for the money to leave your account at least a day earlier to make sure it reaches us on time. You need to contact your property manager immediately if you are unable to pay your rent for any reason. We understand that sometimes things happen and if you contact us and explain the situation we are all in a much better situation to assist you.
The Final Step
Once your payments have been made and the Tenancy Agreement signed, we can hand over your keys! You can collect your keys on your agreed move in day. You may not change any locks or other security devices without the written consent of the landlord. It’s always an idea to have a spare key – just in case!