If you're in the market to buy a new property, you may be aware that you have (under Australian law) the legal entitlement to a cooling off period when you sign the contract. Yet, are you aware of the finer details associated with this clause? What should you bear in mind before you get too carried away with your potential new property?
Can You Use This Clause?
The law stipulates that certain transactions are not eligible for the cooling off period, and this can depend on the type of property or the identity of the buyer.
If you've decided to lease out your investment property, then an ideal way to protect your interests is to prepare a clear and airtight written lease agreement between you and your tenant. A well-prepared rental lease agreement protects you from problematic tenants. Whether you're preparing your lease individually or through a property management company, these guidelines will help you in your quest to prepare an airtight rental lease. Most professional property management companies typically offer some of these clauses.