A lease is a legally binding large and detailed document.
It is worth having a look at a lease agreement before you are in the position of having to sign one, as you may be tempted to sign on the spot when you are given approval.
You will need to read this document carefully before signing; if you have any questions about the lease your real estate agent can clarify any issues before you sign it.
It will state all other conditions of the lease (such as, when rents due and how much, what to do about maintenance issues and who to contact, whether you can keep an animal at the property or NOT etc)
If the lease is in your name, you are solely responsible for that property. Any damages to the property done by visitors or other occupants are the responsibility of you, the lease holder.
When applying for the property as the main tenant or leaseholder, you will be asked to list who else will be living in the property. You must seek approval from the agent before any additional people to move in to the property.
Unless the lease is changed to a shared lease, you as the lease holder are still solely responsible for the rent payments and any damages to the property by anyone else.
Any damage done to the property as a result of crime eg. Break in, will require a Police incident number being provided to the Agent or landlord.
Sharing a lease
Sharing a lease is simply responsibility shared. If it’s with two people, both will be listed on the lease as lease holders. All the responsibilities will be the same.
Residential tenancy agreement example
Standard form-Residential tenancy agreement