Once Your Application is Approved Do You Have to Continue Rental Lease

Congratulations! You've found the perfect rental property and your application has been approved. Now there's just a few things you'll need to do before you move in.

Follow this easy checklist for a smooth move into your new home:

1. Sign the lease

A tenancy agreement or lease outlines the rights and responsibilities that you and your landlord have. It also details key things like the tenancy start date, rent amount, and when it is to be paid, as well as how to terminate it.

Ask for a copy of your lease to review before signing it. Check it thoroughly and contact your department of consumer affairs if you have concerns.

Once it's signed by your landlord/agent, it's a legally binding document. So make sure you understand it, and seek legal advice if you don't.

Each state and territory has its own residential tenancy act governing tenancy agreements, as well as tribunals for when things go wrong, and advocacy organisations to advise tenants on their rights.

Read more: Making the most of renting

2. Pay the bond

You typically pay a bond to the landlord via the agent before moving in. It's kept as security against any substantial damage that may be caused to the property during your tenancy or to cover rent that might be unpaid.

Your bond must be deposited into a trust account within three to 14 days and it will be released at the end of the tenancy when you may receive a full or partial refund. Maximum bond amounts and regulations differ from state to state, but it's commonly the equivalent of around 4 weeks rent.

3. Pay any rent in advance

The landlord may be entitled to receive some rent in advance when you pay your bond and sign the lease. The maximum amount is governed by state and territory laws, so check with your relevant Tenancies Tribunal. Rent in advance is additional to your bond and different from your regular rental payments (which are always paid in advance).

4. Condition report

Also called an inspection report, a condition report provides a record of the condition of the property at the start of your tenancy – to protect you and the landlord.

It lists all the features of the premises including the condition of the walls, ceiling, windows, painting, carpet, fixtures and amenities.

Both landlord/agent and the tenant record their assessment of the premises and keep a signed copy.

Keep your condition report as you may need it at the close of your lease. The landlord/agent may claim some or all of the bond money for repairs but if the report says these repairs were necessary at the start of the tenancy, this form will be your proof that the bond money should be returned.

Keep your condition report as you may need it at the close of your lease.

Increasingly photographs or video accompany these reports, so take some when you move in and keep them with the report to document the condition of the premises, paying close attention to any existing damage (eg: scratches on paintwork, stains on carpet).

Read more: Renting with pets? Landlords might be OK with that

5. Connect the utilities

You'll need to call each provider and set up your utility accounts for example: electricity, gas, water, phone, internet, etc. Some may require a deposit, and they all take into account your credit rating.

And don't forget to change your address and set up mail forwarding from your old address.

6. Move in & enjoy your new home

Renting should be a simple and straightforward process.  You can avoid problems by:

• paying your rent on time
• looking after the property as if it was your own
• making an effort to make sure the property is well presented for any rental inspections
• updating the landlord on any damage or maintenance issues as soon as they occur and requesting permission for anything that needs doing (eg: picture hooks, painting, improvements)
• seeking permission for any changes to the lease (eg: additional/different people on the lease)
• retaining all documents about the tenancy in a safe place for the duration of your tenancy, including the condition report and any photos, the tenancy agreement, any letters, and payment receipts, etc
• respecting your neighbours by adhering to any strata bylaws or communal property rules where applicable
• giving adequate notice if you plan to move out, in accordance with the terms of your tenancy agreement
• being familiar with the rights and responsibilities of tenants and landlords in your state or territory, and seeking guidance from local tenant advocacy organisations if things go wrong

Need a housemate? Find your perfect match on realestate.com.au/share

You should also check out:

• How to prepare for a rental inspection
• Share houses: co-tenancy vs. sub-let
• 7 ways to save on rent without getting a housemate
• Tips to protect yourself from rental scams
• 4 rules to know when your landlord is selling up

This article was originally published on 21 Oct 2014 at 10:07am but has been regularly updated to keep the information current.

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Source: https://www.realestate.com.au/advice/youve-approved-rental-home-now/

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