RIVERSTONE PROPERTY SERVICES
(Click on heading below for more info)
BREAK LEASE FEE FOR AN INDIVIDUAL TENANT
BREAK LEASE FEE FOR ALL TENANTS TO END TENANCY
WHAT DO I NEED TO PAY BEFORE I MOVE IN?
WHEN WILL MY BOND BE REFUNDED?
PAYING YOUR RENT
RENT ARREARS
WHAT HAPPENS IF SOMETHING NEEDS TO BE REPAIRED?
WHAT HAPPENS IF YOU LOCK YOUR KEYS IN THE PROPERTY?
HOW OFTEN IS THE PROPERTY INSPECTED?
DO I NEED CONTENTS INSURANCE?
SOME OF MY DETAILS HAVE CHANGED
NOISY NEIGHBOURS
ACCESS CARDS/TAGS
BREAK LEASE FEE FOR AN INDIVIDUAL TENANT
As you have entered into a fixed term tenancy agreement, you are liable for the remaining rent until the end of your fixed tenancy.
However, you may break your fixed term tenancy agreement if you agree to the following break lease terms and conditions:
Break lease terms & conditions:
1. Agree to pay an administration fee and find a replacement tenant via free sites like Vic Deals or Facebook Marketplace.
The administration fee covers background and credit checks for prospective tenant(s), drafting a change of tenant bond form, tenancy amendment and associated administration costs.
The administration fee per tenant is $115 (including GST), please deposit the money into the following account to initiate the break lease (let us know when the money has been deposited):
Riverstone Property Management Limited
01-0505-0902499-00
Reference: {Tenants name / address} break lease
2. Agree that while they you are still occupying the premises you are responsible for showing interested parties through the property and meet the continuing tenants.
3. Agree that you are responsible for rental payments for the property until the Riverstone Property Management has accepted an application(s) and a tenancy amendment and 'change of tenant' bond form is signed and effectively transferred to the new tenant(s).
Break lease process:
1. Once a prospective tenant is found, they need to submit an application via our website
** Please ensure the current tenants are happy with the prospective tenant before they apply as if they are not happy with the prospective tenant they do not have to sign the tenancy amendment if the person put forward is not suitable **
2. We will then review the application(s) and conduct the necessary background and reference checks.
3. Assuming the administration fee is paid and the background and reference checks are fine a tenancy amendment to the current tenancy agreement and a 'change of tenant' bond form will be drafted and emailed to all tenants.
4. The tenancy amendment and 'change of tenant' bond form then needs to be signed by all of the tenants - new, current and departing tenant(s) and emailed to us.
5. Once we have both forms are returned correctly filled out, we will submit the 'change of tenant' form to Tenancy Services to update the bond and file the tenancy amendment document.
6. We will let you know when everything is complete and the key / access card can be exchanged and we will inform the new tenant to pay the exiting tenants portion of the bond.
BREAK LEASE FEE FOR ALL TENANTS TO END TENANCY
If you intend to vacate the property before your lease has ended, you are liable for the remaining rent until the end of your fixed tenancy.
However, you may break your fixed term tenancy agreement if you agree to the following break lease terms and conditions:
Break lease terms & conditions:
1. Agree to pay administration fee payment. The fee covers entry / exit inspections, advertising, background / reference checks for prospective tenants and administration costs relating to drafting a new tenancy agreement and bond lodgement. The fee required is $450 for the unit.
If you would like to find prospective tenants yourself via free sites like Vic Deals & Facebook Marketplace, the fee required is $350.
2. Agree that while they you are still occupying the premises you are responsible for showing interested parties through the property.
3. You understand that any interested parties must complete and submit an application form to take over the lease. It is at Riverstone Property Management's discretion to accept or decline any such application. Please get prospective tenants to apply online.
4. You agree that you are responsible for rental payments for the property until the Riverstone Property Management has accepted an application(s) and a new lease is signed and effectively transferred to the new tenant(s) or until the end of the fixed term (whichever is sooner).
5. You understand that after a new lease is signed we will schedule a date and time to do a move out inspection and assuming the property is in a reasonably clean and tidy condition and free from any accumulation of rubbish and no major damage or alterations has occurred, your bond will be returned to you and the keys / access cards will be collected.
6. Provide at least one weeks notice
WHAT DO I NEED TO PAY BEFORE I MOVE IN?
Typically you will need to pay 3 weeks rent for bond & 1 weeks rent in advance. This must be paid to us before we will release the keys of the property to you.
WHEN WILL MY BOND BE REFUNDED?
Your bond will be refunded once we have completed a property inspection and any work required has been completed and paid for. Be aware that the bond is not to be used to pay your last few weeks of rent and that you must keep paying your rent through to your last day in the property.
PAYING YOUR RENT
Payment is by automatic payment usually once per week to our nominated bank account.
We require a single payment from groups of tenants rather than multiple smaller payments.
Please ensure you include the supplied property reference so that we can correctly attribute your rent to you.
RENT ARREARS
Riverstone Property Management has a zero rent arrears policy which we strictly implement and action with all tenants.
We do implore you to contact us prior to missing a rent payment so that if possible we can make appropriate arrangements.
If rent payment has been missed you will receive a variety of reminders which you should not ignore.
The following is the process we follow for all tenant arrears:
1-2 days: a phone call/text message/email will be sent
3-6 days: a 14 day breach notice issued and a follow up phone call/text message/email.
7+ days: in arrears an application to tenancy tribunal will then be made for termination of tenancy & bond refunded to landlord to cover any expenses.
* Note that Tenancy Tribunal orders are published online and it’s public information, therefore any future landlords can access this & may hinder your chances of ever renting another property.
WHAT HAPPENS IF SOMETHING NEEDS TO BE REPAIRED?
If you have an urgent maintenance request where a property or person is in danger of damage or injury, please phone 0221546558
It is our policy that all non-urgent maintenance requests MUST be submitted online. We ask that you submit maintenance requests in writing to avoid confusion and to ensure that we have a clear record of your request.
When making a request, be as specific as possible about the problem.
For life threatening emergencies please call 111.
Please note that fair wear and tear during your stay is expected, but you are responsible for any damage to the property beyond this.
It is the tenant's responsibility to:
- Replace any blown light bulbs with similar quality bulbs throughout the property.
- Replace smoke alarm batteries when needed.
- Replace fuses if blown.
- Replace cracked or broken windows and screens (unless the incident is reported to police as a break in or vandalism).
- Maintaining gardens and lawns unless it has been specifically excluded in the lease.
WHAT HAPPENS IF YOU LOCK YOUR KEYS IN THE PROPERTY?
If you require keys to be dropped off to your property within business hours (Monday to Friday, 9am to 5pm), a charge of $50 will be applied.
Outside of business hours you will need to call a locksmith to gain access to your home and all of the associated costs will be your responsibility. If the lock is changed you need to let us know and also provide us with a full set of keys.
HOW OFTEN IS THE PROPERTY INSPECTED?
Your property will be inspected up to four times a year, we will contact you and give you at least 48 hours notice of the inspection.