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Submitted 2011-10-07 13:25:34
Buying, selling and leasing out commercial or residential properties involve a number of procedures and concerns for all those participating in the deal. There are so many considerations the landlord makes when handling over the property to tenants. The first major concern is whether the tenant will make the rental payments on time or not. Secondly, whether the tenant will take good care of the property or not. There are other important things such as pool repairs, lawn maintenance and handling the normal wear and tear. Rental bonds provide good protection to landlords against all major issues related with leasing.
Landlords seek security from rental bonds which protect them from potential losses brought about by property damages and unpaid rental charges. Although tenants are not compelled to do so, a lot of landlords make them pay rental bonds as the lease period commences. It is the duty of a property manager to perform all the necessary actions needed for document preparations upon the arrangement of rental bonds. These professionals are well-versed in the unique laws and regulations of every region, and are thus capable of providing reliable advice and assistance to landlords.
Once you (or your property manager) obtain the rental bond funds, they are required to be handed over to the Residential Tenancies Authority, or RTA, within 10 days of collection. A bond lodgment document is also sent along with the funds, completely filled and signed by the tenant. The RTA will process the application and send confirmation to you and your tenant. Upon maturity of the lease, the property shall be checked for any possible damages other than the normal wear and tear, as well as for any payments which are yet to be received. Upon complete satisfaction, the funds will be returned to the tenant by the RTA.
When preparing the terms of lease, rental bond charges are to be carefully calculated. In Queensland, if the rental payment is equal to or less than $700 per week, rental bond amount has to be equivalent to four weeks' worth. For rents more than $700 per week, there is no maximum. If the tenant finds it difficult to arrange for the lump sum funds, installments at times can be arranged.
Rental bond is essentially a financial security provided to the landlord at the time of leasing to ensure there are no issues regarding collection of rents on time and the property is kept safe and free from damages. Landlords have to consider a number of factors before leasing out their properties, such as the ongoing property maintenance, and sound risk management to get the maximum returns.
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By: Eva Judge
Buying, selling and leasing out commercial or residential properties involve a number of procedures and concerns for all those participating in the deal. There are so many considerations the landlord makes when handling over the property to tenants. The first major concern is whether the tenant will make the rental payments on time or not. Secondly, whether the tenant will take good care of the property or not. There are other important things such as pool repairs, lawn maintenance and handling the normal wear and tear. Rental bonds provide good protection to landlords against all major issues related with leasing.
Landlords seek security from rental bonds which protect them from potential losses brought about by property damages and unpaid rental charges. Although tenants are not compelled to do so, a lot of landlords make them pay rental bonds as the lease period commences. It is the duty of a property manager to perform all the necessary actions needed for document preparations upon the arrangement of rental bonds. These professionals are well-versed in the unique laws and regulations of every region, and are thus capable of providing reliable advice and assistance to landlords.
Once you (or your property manager) obtain the rental bond funds, they are required to be handed over to the Residential Tenancies Authority, or RTA, within 10 days of collection. A bond lodgment document is also sent along with the funds, completely filled and signed by the tenant. The RTA will process the application and send confirmation to you and your tenant. Upon maturity of the lease, the property shall be checked for any possible damages other than the normal wear and tear, as well as for any payments which are yet to be received. Upon complete satisfaction, the funds will be returned to the tenant by the RTA.
When preparing the terms of lease, rental bond charges are to be carefully calculated. In Queensland, if the rental payment is equal to or less than $700 per week, rental bond amount has to be equivalent to four weeks' worth. For rents more than $700 per week, there is no maximum. If the tenant finds it difficult to arrange for the lump sum funds, installments at times can be arranged.
Rental bond is essentially a financial security provided to the landlord at the time of leasing to ensure there are no issues regarding collection of rents on time and the property is kept safe and free from damages. Landlords have to consider a number of factors before leasing out their properties, such as the ongoing property maintenance, and sound risk management to get the maximum returns.
Author Resource:->??Specialising in property rentals, eProperty Rentals http://http://www.epropertyrentals.com.au/ ?property managers Brisbane provide complete guidance and information regarding Real Estate Brisbane issues.
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Source: http://www.nextlevelarticles.com/Art/442344/226/Rental-Bonds-Make-It-More-Secure.html
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