Common use of Unit Title Property Clause in Contracts

Unit Title Property. The landlord must promptly notify the tenant of any variations to Body Corporate rules affecting the premises. * tenants may be required to pay excess charges or may be immune from claims by the landlord, where they or their guests caused careless damage to the property but the landlords insurance covers the damage. *2017 many insurance companies have introduced ‘landlord obligations ‘which require 3 monthly inspections and other conditions. (This is in response to damage associated with use or manufacture of methamphetamine in rental properties). Insurance Statement This insurance statement is for landlords, property managers and boarding house managers who can attach it to their own tenancy agreement. Law changes relating to insurance and damage • From 27 August 2019, the law requires landlords to disclose whether or not the property is insured in a statement as part of any new tenancy agreement, and if so, the excess amount of any relevant policies. Landlords need to include information about insurance that is relevant to the tenant’s liability for damage to premises. • If the rental property is part of a body corporate, landlords will need to include relevant insurance information for both damage to the rental property itself, and the shared facilities. • They must also include a statement informing the tenant that a copy of their insurance policy is available on request. This ensures that the tenant knows what actions or omissions could invalidate the insurance policy and also helps the tenant to know what is covered by insurance and the excess payable on the insurance policy. • Landlords must provide tenants with this insurance information (if requested within a reasonable timeframe) and provide updated information within a reasonable timeframe if insurance information changes, or (where they are not the insurance holder) within a reasonable timeframe of becoming aware of the changes. • If tenants or their guests damage a rental property as a result of careless behaviour, the tenant is liable for the cost of the damage up to four weeks’ rent or the insurance excess (if applicable), whichever is lower. Tenants on income-related rents are liable for the cost of the damage up to four weeks’ market rent or the insurance excess (if applicable), whichever is lower. • Tenants will be liable for the full cost of damage that they or their guests cause intentionally or that results from an act or omission that constitutes an imprisonable offence.

Unit Title Property. The landlord must promptly notify the tenant of any variations to Body Corporate rules affecting the premises. * *tenants may be required to pay excess charges or may be immune from claims by the landlord, where they or their guests caused careless damage to the property property, but the landlords insurance covers the damage. *2017 many insurance companies have introduced ‘landlord obligations ‘which require 3 monthly inspections and other conditions. (This is in response to damage associated with use or manufacture of methamphetamine in rental properties). Insurance Statement This insurance statement is for landlords, property managers and boarding house managers who can attach it to their own tenancy agreement. Law changes relating to insurance and damage • ▪ From 27 August 2019, the law requires landlords to disclose whether or not the property is insured in a statement as part of any new tenancy agreement, and if so, the excess amount of any relevant policies. Landlords need to include information about insurance that is relevant to the tenant’s liability for damage to premises. • ▪ If the rental property is part of a body corporate, landlords will need to include relevant insurance information for both damage to the rental property itself, and the shared facilities. • ▪ They must also include a statement informing the tenant that a copy of their insurance policy is available on request. This ensures that the tenant knows what actions or omissions could invalidate the insurance policy and also helps the tenant to know what is covered by insurance and the excess payable on the insurance policy. • ▪ Landlords must provide tenants with this insurance information (if requested within a reasonable timeframe) and provide updated information within a reasonable timeframe if insurance information changes, or (where they are not the insurance holder) within a reasonable timeframe of becoming aware of the changes. • ▪ If tenants or their guests damage a rental property as a result of careless behaviour, the tenant is liable for the cost of the damage up to four weeks’ rent or the insurance excess (if applicable), whichever is lower. Tenants on income-related rents are liable for the cost of the damage up to four weeks’ market rent or the insurance excess (if applicable), whichever is lower. • ▪ Tenants will be liable for the full cost of damage that they or their guests cause intentionally or that results from an act or omission that constitutes an imprisonable offence.. Insurance statement Landlords must either complete this form or attach a statement containing the same information. Address of tenancy There is insurance covering this rental property that is relevant to tenant’s liability for damage to premises, including damage to body corporate facilities. Yes No The table below specifies the excess amounts of all relevant insurance policies for this property. The insurance policy for this property is available for the tenant if they request it. This ensures that the tenant knows what actions or omissions could invalidate the insurance policy and also helps the tenant to know what is covered by insurance and the excess payable on the insurance policy. If these insurance details change and the information above or the policy documents are no longer correct, you must provide the correct information to your tenant within a reasonable time. 1. $