The property leasing authority process sets out agreements between landlords and property managers. Terms and conditions set in the property leasing authority process helps to reduce the occurrence of disputes and uncertainties within the property management process.
A leasing authority, sometimes known as an ‘exclusive leasing/managing authority’, is a contract between property owners and their property managers.
At minimum, a leasing authority will outline the property manager’s responsibility of finding a suitable tenant for your property, collecting bond and rent, and ensuring that tenants are meeting their obligations under the residential tenancies act.lease agreement.
At Property Managers Online, we also include our responsibility of paying necessary council fees on your behalf, organising periodic inspections and conducting regular rental reviews to ensure that you are receiving the best return on your investment.
Leasing authorities are required by law, under Section 49A of the Estate Agents Act 1980.
The purpose of signing an authority is like any other legal contract; it explicitly states our responsibilities to you (and vice-versa), and thus acts as a safety net for both property owners and managers.
The duration of a leasing authority is usually for the time period of the lease. The expiry is stated on the document and is negotiated at the time of sign up.between 30 and 60 days.
In Victoria, property owners are bound to the real estate agent/property manager they appoint only until the property has been leased. After this time, owners are free to find another manager.
Under the Privacy Act 1988, we will only collect, use and disclose your personal information for the purposes of fulfilling our duties to our clients, as stipulated in the authority.
We value discretion as much as you do. Rest assured that we will not disclose your personal information to extraneous parties.