When an agent is appointed to rent or manage a new property, there are strict
procedures that apply to the condition that it is maintained in to ensure compliance with industry legislation and standards.
Inspection of new Managements—The initial inspection is focused on
assessing the property and possible work requiring immediate attention.
Entry Condition Report—When a new lessee takes possession of a managed
property, they have certain responsibilities and obligations toward the property and the client. The lessee will have paid a bond for the property. The bond is a surety to protect the client in case damage (over and above fair wear and tear) happens to the property.
Every lessee wants to receive the entire bond back at the end of their tenancy. To ensure that this will happen, the lessee must diligently complete the Entry Condition Report and return it to the Lessor/Agent within 3 days of taking possession of the property. The lessee’s version of the Entry condition report must match the
Lessor/Agent’s copy of the same report.
Routine Inspection Report—A routine inspection is conducted at 3 monthly
Intervals throughout the tenancy. Some insurers require agents to conduct
quarterly inspections as a condition of insurance.
Maintenance Inspection Report—When maintenance is conducted on a managed property that is over a certain value, or maintenance that is to repair or upgrade a potential risk situation, an inspection of the work should be undertaken. A report will be forwarded to you regarding the completion and cost of the works to keep you informed.
Exit Inspection Report—The exit inspection report is completed when the
Lessee vacates the property. The exit condition report should reflect the entry
condition report with adjustment for maintenance works completed or renovations and upgrades that may have occurred while the lessee occupied the property.