If you`re looking to rent a property in New Zealand, there are a few important things you should know about the rental agreement. The rental agreement is a legal document that outlines the terms and conditions of the tenancy, and it`s important to read it carefully before signing.
Here are a few things to look for in a property rental agreement in New Zealand:
1. The term of the tenancy
The rental agreement will specify the length of the tenancy. Most agreements are for a fixed term of six or twelve months, but some landlords may offer a periodic tenancy instead. A fixed-term tenancy means that you`re committed to renting the property for a specified period of time, while a periodic tenancy allows you to give notice and end the tenancy at any time.
2. Rent and bond
The rental agreement will also specify the rent amount and how often it`s due. It should also outline the amount of bond required, which is typically four weeks` rent. The bond is held by the tenancy services and is refunded at the end of the tenancy, provided there`s no damage to the property.
3. Maintenance and repairs
The rental agreement should outline who is responsible for maintenance and repairs. Usually, the landlord is responsible for major repairs, while the tenant is responsible for minor repairs and general upkeep of the property.
4. Pets
If you have pets, it`s important to check whether they`re allowed in the property. Some landlords may allow pets with certain conditions, such as a pet bond or additional cleaning fees.
5. Ending the tenancy
The rental agreement should outline the process for ending the tenancy, including the notice period required. In most cases, you`ll need to give at least 21 days` notice before moving out.
In summary, the rental agreement is an important document that outlines the terms and conditions of the tenancy. It`s important to read it carefully and ask any questions before signing. If you`re unsure about anything in the agreement, it`s always a good idea to seek legal advice.
