What information should be in a lease?
A lease should have all the following information
- Landlords name
- The tenant's name
- Landlords postal address
- Tenant's postal address
- The address of the property being leased
- The amount for which the landlord will rent it out
- The amount by which the rent will increase (for example, by 10 percent when renewing the lease)
- When the rent will increase (for example, if there is a rates increase)
- How often rent is to be paid, (for example, monthly)
- The amount of the deposit, if any
- The landlord's and tenant's obligations (for example, who is responsible for maintenance? Who will pay the water, electricity and rates bills? Usually, the tenant pays for charges related to consumption, such as water and electricity, and the landlord pays for charges related to the property, such as rates.)
- The conditions under which either you or your tenant can give notice to cancel the contract
- The House rules, signed by both parties, should be attached to the lease.
- A list of defects drawn up during a joint inspection when the tenant moves in. This should be signed by both the landlord and tenant and attached to the lease.