Lease Agreement (Tenancy Agreement)
Property Management
A legally binding contract between a landlord and tenant that sets out the terms and conditions of a rental arrangement.
Full Explanation
A lease agreement specifies the rent amount, payment frequency, bond, lease duration, property condition, maintenance responsibilities, and rules for ending the tenancy. In Australia, residential leases are governed by state tenancy legislation which overrides any clauses that do not comply. Fixed-term leases (typically 6 or 12 months) provide certainty for both parties, while periodic leases roll on month-to-month after the fixed term expires.
Example
A 12-month fixed-term lease at $550/week with a condition report attached and bond of $2,200 lodged with the bond authority.
Frequently Asked Questions
Can I increase rent during a fixed-term lease?
Generally no. In most states, rent cannot be increased during a fixed-term lease unless the lease specifically allows for it. Rent increases on periodic leases typically require 60 days written notice, though this varies by state.
What happens when a fixed-term lease expires?
The tenancy automatically converts to a periodic (month-to-month) lease unless a new fixed-term agreement is signed. A periodic lease continues on the same terms but either party can end it by giving the required notice period under state legislation.