COMING & GOING

End of lease can be a challenging time for both tenant and landlord. In the vast majority of cases, tenancies end on a positive note with no disputes or issues. But this will only occur for two reasons.

Either there is no make good or redecoration clause in the lease and the tenant is free to vacate with no obligations. Very unusual, but does happen occasionally, when a sub-lease has been in place, or the original condition of the tenancy was presented as a “take it as is, walk-in walk-out” state.

The other is when the lease has an agreed Entry and Exit Condition Report. The Entry Report is a snapshot completed and signed by both landlord and tenant before the lease commences. It will note the current condition of the property, room to room, area by area, both internally and externally. The purpose of this report is to highlight any existing issues with the property that need to be addressed by the landlord and to document what condition the property will need to be presented at end of lease. This report will include photos and inspection notes.

The Exit Condition Report should be completed in the same way as the Entry Report. The two reports are then compared to each other to help determine if any issues that now are new or occurred during the tenancy or if they may require further investigation, taking into account “fair wear and tear.”

A well drafted Entry and Exit Condition Report will assist in protecting both the landlord’s assets and the tenant’s obligations in the long term. Getting an accurate report completed and subsequent good advice on lease obligations are where Racking & Property Solutions (RaPS) can assist. ?

Contact the team at Racking & Property Solutions – [email protected] [email protected] – 0475 918 954.