The Rental Tenancies Regulatory Authority (RTRA) is a government entity that has been established to oversee and regulate the rental housing market in Australia. One of the provisions of the RTRA is that it provides for a tenant signing and returning a lease agreement.
When a new tenant is looking to rent a property, a lease agreement is a legally binding document that outlines the terms and conditions of the lease. This agreement is signed by both the landlord and the tenant, indicating that they agree to the terms and conditions.
According to the RTRA, the tenant has the right to sign and return the lease agreement within seven days of receiving it from the landlord. This is known as a cooling-off period, during which the tenant can review the lease agreement and seek legal advice if necessary.
If the tenant chooses to cancel the lease agreement during the cooling-off period, they must notify the landlord in writing and return the agreement. The landlord must then refund any rent or deposit paid by the tenant.
Once the tenant has signed and returned the lease agreement, the landlord must provide the tenant with a copy of the agreement within 14 days. This copy should include all the terms and conditions of the lease, as well as any other important information such as the rent amount, security deposit, and lease term.
The RTRA also provides some guidance to landlords on how to ensure tenants receive and sign their lease agreements promptly. Landlords should make sure that the lease agreement is provided to the tenant in a timely manner, and should not put any pressure on the tenant to sign the agreement before they have had a chance to review it.
In conclusion, the RTRA provides important protections to tenants when it comes to signing and returning lease agreements. By allowing for a cooling-off period and mandating that landlords provide tenants with copies of the lease agreement, the RTRA helps to ensure that tenants are well-informed and protected when renting a property.