Leasing private properties

Study notes

Leasing private property in practice: the tenancy agreement’s essential terms, who stamps it, who bears GST, and the deposit and clause machinery that private-market lettings turn on.

What you must know

• A private tenancy agreement identifies the parties and premises, fixes the term and rent, and sets deposit, renewal and termination terms.
• Stamp duty on the lease is payable for the agreement to be admissible in evidence; in practice the tenant pays it.
• GST applies to the rent only if the landlord is GST-registered — registration status, not property type, is the trigger.
• A security deposit (commonly one month’s rent, sometimes more) is held against arrears and damage; it is refundable subject to deductions at the end.
• An inventory schedule records fixtures and contents, preventing end-of-tenancy disputes.
• A diplomatic clause permits early termination after a lock-in period with notice — typical for expatriate tenancies.
• Subletting or assigning needs the landlord’s consent; unauthorised subletting is a breach inviting forfeiture.
• The landlord’s remedies for arrears include claiming the deposit, forfeiting the tenancy, and distraining against the tenant’s goods.