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By: We House
Published: Sat, Dec 7, 2024 10:00 AM
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How To Create Your Tenancies

Managing tenancies efficiently is critical for both landlords and property managers. This guide provides a detailed walkthrough on how to add tenancies, document key details, and ensure everything is set up for success. Whether you’re creating a new tenancy or managing an existing one, our system makes the process simple and effective.

What is a Tenancy?

A tenancy is a legally binding agreement where a tenant pays rent to occupy a property owned or managed by a landlord. Tenancies are typically governed by local laws and regulations, ensuring rights and responsibilities for both parties. Managing tenancies efficiently is essential for maintaining good relationships and avoiding disputes.

Our platform allows you to create, track, and manage tenancies with ease. Whether you’re a landlord with a single property or a property manager handling multiple leases, the system ensures all tenancy-related details are centralised, accessible, and well-organised.

Creating a Tenancy

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General Details

Start by adding basic information about the tenancy. Accurate general details ensure smooth operations and compliance.

Follow these steps:

1. Select or create an associated real estate agency. If the agency isn't listed, use the create option to add them. Real estate agencies are added by their business name and location.

2. Specify the tenancy type. Choose between Fixed Term Agreement or Custom Tenancy, depending on the lease's specifics.

3. Provide the tenancy duration. This includes a predefined term (e.g., six months) or a custom length for non-standard agreements.

4. Input the start date and end date. Ensure dates are accurate for proper record-keeping.

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Rent Details

The financial aspects of the tenancy are crucial for both parties. Here's how to manage rent details:

1. Specify the rent amount and frequency (e.g., weekly, monthly).

2. Our system will calculate the expected bond from 4 weeks rent. If you have a custom amount, you can uncheck the bond switch and add the bond amount.

3. Input the bond number, this is typically given to you by your rental authority or whoever holds the bond.

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Property & Features

Defining the property's features allows for efficient management and documentation.

This section helps track changes to the property over time:

1. Select or create the property address. Accurate addresses are essential for managing multiple tenancies.

2. Choose the property type, such as apartment or house, and provide room details, including the number of bedrooms, bathrooms, kitchens, and more.

3. Include the building size and land size in square meters for better property specifications.

4. Add any extra features, such as a swimming pool, gym, or energy-efficient systems. Use the predefined list or create custom features specific to the property.

Documenting Your Tenancy

Proper documentation is crucial for both legal compliance and smooth operational management. Keeping accurate and organised records helps to safeguard your rights, ensures transparency, and provides a reliable reference point for all parties involved.

Our system is designed to make this process seamless, allowing you to store, manage, and access all tenancy-related documents efficiently. From rental agreements to maintenance logs, everything is securely housed in one centralised location, ensuring you never lose track of important paperwork. This streamlined approach not only saves time but also minimises the risk of disputes or misunderstandings.

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Uploading Entry Photos

Document the property's condition with entry photos:

1. Capture high-quality photos and label them according to room or area.

2. Tag photos with relevant notes, such as pre-existing damage or unique features.

3. Upload them under the Entry Photos tab for easy access and reference.

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Uploading Main Documents

Key tenancy documents can be uploaded for tracking and compliance. These include:

1. The Tenancy Agreement, which outlines the terms and conditions.

2. Special Terms, typically contains any special terms for the tenancy.

3. The Entry Report, documenting the property's state at the start of the tenancy.

4. The Exit Report, which compares the property's condition at the end of the lease.

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Adding Extra Documents

Additional documents, such as communications with real estate agents or maintenance records, can be uploaded via the Documents tab. Label and tag them for easier organisation and retrieval.

Finalising the Tenancy

When you are satisfied that everything is accurate, simply click the Create button to finalise the setup. This action confirms the tenancy, locks in the details, and makes the record ready for use in your management system. By ensuring accuracy at this stage, you set the foundation for a smooth and efficient tenancy experience, minimising errors and simplifying future processes.

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