Additional terms and conditions may be included and the agreement must comply with the Residential Tenancies Act 1997. First, it allows the landlord and tenant to list the details of the lease, such as the names of the parties, the duration of the contract, the amount of the rent and how the payments are to be made. This rental agreement includes an option for the payment of a rental loan. A rental obligation is a form of guarantee for the landlord if the tenant does not comply with the terms of the contract. The payment of a rental loan is not mandatory, but it is customary when real estate is leased as a commercial arrangement. In addition, some leases may include punitive clauses under which the tenant must pay “rental fees” to cover part of the landlord`s cost of re-renting the premises. However, the amount of “replacement” costs must be reasonable and must be a preliminary estimate of the harm the lessor will suffer if he has to re-rent the premises prematurely. When you move to a new location, you are usually asked to pay a loan with one month`s rent to ensure that you meet your lease obligations. Bonds must always be filed with the Residential Tenancies Bond Authority. You can verify that your loan has been deposited by calling it on 1300 137 164 anuns. If your rent is $350 or less per week, most of the rent you can pay in advance is one month.
But if your lease says your rent is paid each week, you can pay the most in advance, it`s 2 weeks. Fixed end date – A lease agreement with a fixed end date gives a guarantee for both the landlord and the tenant. It indicates the exact day of the end of the lease. The advantage is that neither party is obliged to terminate the lease to terminate the lease, it simply expires on the specified date. In a fixed-term lease, the lessor cannot increase the rent or change other terms of the tenancy agreement unless he expressly reserves the right in the contract and the tenant accepts the changes. In Victoria, if the rent is less than or equal to $350/week, the maximum obligation is equivalent to one month`s rent. The lessor can apply to the Victorian Civil and Administrative Court (VCAT) if he wishes a higher loan. As a general rule, a higher loan is only allowed if the lease provides that the premises are the landlord`s usual place of residence and the tenant occupies the premises only until the landlord returns or when the rent is above $350.00/week. A loan bond/guarantee is an amount that the tenant pays to the lessor to ensure that the tenant fulfills all obligations arising from the tenancy agreement.