We talked to the H & H team about the questions they commonly receive from landlords and tenants and have popped them into a blog for your convenience!
Q: Can I pay the water bill from the Credit on my tenant ledger?
A: No – Trust accounting is not like standard accounts payable and receivable.
The Trust Account is a clearing account and all funds are sent to the owners account at the end of the month, clearing the balance back to Nil. The part payment of Rent is recognised on your ledger and taken into consideration when finalising Rent payments. All other payments are invoiced and must be settled separately.
Q: Do I need to have a guarantor if I haven’t rented before?
A: No, if you have enough supporting documents & financial support you can hold a lease in your name. There are benefits in being a first-time tenant – we can guide them in the right direction, educate & monitor them in the correct way.
Q: Can I add someone to the lease halfway through the tenancy?
A: Yes you can, however, a full application must be submitted prior to the new person moving in. They must have the full approval from the owner. They then will be added to the lease agreement and the bond contributor form will be updated as well.
Q: What happens if I need to break my lease agreement?
A: You can break your agreement at any time. However, there are costs involved. As you are the one breaking the agreement, you would be responsible for rent up until a new tenant is found, marketing costs to release the property & the letting fee. These were all costs the owner had to pay to have you lease the property.
Q: Can I apply without viewing the property?
A: You can, however, a sight unseen form must be signed in addition to your lease agreement. We’re happy to do a facetime inspection when needed, though you still need to complete the sight unseen form as you won’t have had a physical inspection.
We hope this has been of service. Do contact us if we can assist with your property management questions.