What Do These Terms Mean: Housing Edition

Here’s a couple of terms you’ll likely see when choosing a place to stay. For your convenience, we’ll explain what they mean.

BEFORE signing the contract

Requirements to Rent: Generally proof of enrolment from your education provider and a letter from your parents or sponsor proving that they have continuous income. You may also be required to show that you can afford to rent the place for at least six months.

Bond: Money (usually about a month’s worth of rent) paid by you to the landlord at the start of the agreement. All or part of it will be returned when you move out, provided both parties agree all contract conditions have been met. Make sure that your landlord pays your bond money to the relevant state government body.

Sub-letting: This is where the person whose name is on the lease, that is, the head-tenant, rents a room or even the whole house or flat to another person. Legally, a tenant cannot sub-let without the landlord’s prior consent.

Condition Report: A report that lists any visible defects in the property such as cracks and carpet stains, as well as the condition of all appliances and fixtures. It’s extremely important that you add anything you notice that’s not on the list, because you may be liable for it when you move out.

AFTER you have moved in

Rent Arrears: The rent owed for the days you have lived in a place but haven’t paid rent for.

NOTE: When you are behind in paying the rent by 14 days, the landlord/agent can issue you with a notice of termination.

Rent Increase: Any rent increase requires 60 days written notice. You should contact your local tenants’ advice service if you feel inadequate notice has been given.

Termination: This is when either party decides to end the tenancy agreement, for example, if you give notice to move out or the landlord gives you notice to leave. The agreement does not actually end until the tenant moves out or the Consumer, Trader and Tenancy Tribunal makes an order of termination.

Transfer of Tenancy: This is when a person whose name is on the residential tenancy agreement signs over their legal rights as a tenant in the house to another person. If this is approved on the tenancy agreement, you can find someone else to take over your spot as a tenant in the house to avoid contract termination fees.

Inspections: It’s a condition of your tenancy to allow your real estate agent, with prior notice, to inspect the property during your stay to ensure it is being kept in good condition.