Buying a Tenanted Rental: Buyer Checklist

1. Collect every tenancy agreementTerm, rent and due date for each unit; a fixed term ends on its end date (s.15).
2. Confirm deposits and interestAmount held for each tenant and the interest owing on it.
3. Get the move-in inspection reportsWithout s.19 reports no deduction for damage can be made later (s.46(6)).
4. Note each last rent increase365 days must pass from the start or last increase (AR 211/2004 s.3(1)).
5. Check the tenancy is periodicPrescribed reasons end periodic tenancies only (RTA s.6(1)).

+7 more items in the full checklist