The lease (residential tenancy agreement) in NT
The lease or residential tenancy agreement is an agreement between you (the tenant) and the landlord. It is made up of two parts. The first part sets out both the tenant's and the landlord's rights and responsibilities. If you sign the lease it means that you agree to abide by its terms and conditions. It is a legal document and you should read it before you sign it. The second part of the lease is the condition report.
There are two types of tenancy agreements - fixed-term and periodic. A fixed-term agreement is for a set period of time, whereas a periodic agreement goes from week to week or month to month.
Before you sign the lease you must be given a written copy of the lease. You should check the following on the lease:
- the amount of rent that is payable;
- the amount of bond money required;
- the term of the lease;
- if any tradespeople are nominated on the lease to call in case of an urgent repair;
- any additional terms.
An inspection and condition report should be done which you can attend. A copy of a condition report must be given to you no later than 3 business days after you take possession of the property.