, Fixed
Renting us
Buying Property
Things to consider when
deciding to rent
,
buy or build
family needs :
lifestyle,
family size ,
stage of
family (baby vs teen)
finances available funds record
affordability
·
: credit ,
,
location :
neighbourhood , orientation
condition
property
security features
Home
Renting a
·
when a tenant pays a fixed art of money Crent) to the owner/landlord in order to
occupy the property
Financial 9 Contractual Responsibilities
1. Lease agreement
↳ Written
legal doc
outlining conditions , rights a responsibilities of lessor a lessee
↳
governed by rental
housing ac t a
prevention of illegal ev i c t i o n and unlawful occupation of land act
↳
maximum duration of 24 months
,
unless a longer period (which benefits tenant) is agreed upon
.
2 Deposit :
↳ I month rent
usually
=
↳ paid in advance to landlord to protect against damage a unpaid rent
↳
deductions may be made fo r repairs (who-payment within 7d ; wl payment within 1d]
.
3 Rent
↳ paid instalments for of
in
monthly use
property
.
4 Utilities
bils
electricity
↳ water a a re paid by tenant
Advantages of
Renting
·
m o re affordable
lower monthly expenses (no rates or maintenance)
freedom to notice is
move once
given
·
·
Landlord is Responsible for maintenance a insurance
Disadvantages of
Renting
no
legal ownership or
long-term security
rent "lost" as it doesn't create wealth
·
is
re n t
typicallya annually
can't who
tenant change property permission
·
Renting us
Buying Property
Things to consider when
deciding to rent
,
buy or build
family needs :
lifestyle,
family size ,
stage of
family (baby vs teen)
finances available funds record
affordability
·
: credit ,
,
location :
neighbourhood , orientation
condition
property
security features
Home
Renting a
·
when a tenant pays a fixed art of money Crent) to the owner/landlord in order to
occupy the property
Financial 9 Contractual Responsibilities
1. Lease agreement
↳ Written
legal doc
outlining conditions , rights a responsibilities of lessor a lessee
↳
governed by rental
housing ac t a
prevention of illegal ev i c t i o n and unlawful occupation of land act
↳
maximum duration of 24 months
,
unless a longer period (which benefits tenant) is agreed upon
.
2 Deposit :
↳ I month rent
usually
=
↳ paid in advance to landlord to protect against damage a unpaid rent
↳
deductions may be made fo r repairs (who-payment within 7d ; wl payment within 1d]
.
3 Rent
↳ paid instalments for of
in
monthly use
property
.
4 Utilities
bils
electricity
↳ water a a re paid by tenant
Advantages of
Renting
·
m o re affordable
lower monthly expenses (no rates or maintenance)
freedom to notice is
move once
given
·
·
Landlord is Responsible for maintenance a insurance
Disadvantages of
Renting
no
legal ownership or
long-term security
rent "lost" as it doesn't create wealth
·
is
re n t
typicallya annually
can't who
tenant change property permission
·
