Purpose
This procedure contains the necessary actions required when a managed property is transferred from the tenant to the agent at the end of a lease.

Procedure

Vacating Notice Received From Tenant
•	Verbal notice is unacceptable.
•	Notice must be no less than 28 days and in writing
•	Confirm the expiry date of Agreement.
•	For a 'general' vacating situation, a Vacating Notice is used and signed by the Tenant.
•	For an "Agreement Break" (i.e. Lease break), a different Vacating Notice is used and signed by the Tenant.
•	Tenant's breaking their Agreement are responsible for: 
o	Paying rent until either a new Tenant moves in to the property and starts paying rent or until the Agreement expires (whichever happens first) 
o	Pay a Prorata Letting Fee as compensation to the owner Full Fee divided by 12 months multiplied by number of months remaining on contract- this is also subject to GST)
o	Pay the costs of any agreed advertising
•	The notice is date stamped with the date the notice was received.
•	Confirm vacating details in writing, letter sent with Bond Claim Form (supply of these in drawer in Property Management office) and Vacating Checklist
     The minimum notice period that the Tenant is required to give commences from the date the Notice       is received by the Agency, not the date sent by the Tenant.
 
Vacating Information Is Processed
•	The vacating date is entered on the computer, in both the trust accounting software and it is diarised for follow up and completion on the Tenant is due to vacate the premises.

Landlord Advised
•	The Landlord is advised verbally of the upcoming vacancy and instructions sought, then letter sent to confirm instructions.
•	If the property is a strata unit, the Strata Managing Agent/Owners Corporation is advised.

Confirm Vacating Process With Tenant
•	Arrange and diarise a Pre-Vacating Inspection with the Tenant.
•	Confirm costs involved (Agreement Break).
•	Confirm vacate date and rent due to the vacate date.
•	Advise Tenant of how to obtain a full Bond refund.

Pre-Vacating Inspection 
•	This inspection is to: 
o	Sort out any potential problems with the condition of the property
o	Confirm suitable access arrangements to show the property
o	Re-assess the asking rent (if necessary)
o	Determine any major work necessary to the property
o	Assist in the creation of advertisements
o	Check the master keys
o	Reinforce the Tenant's obligations.
•	Where the property is to be re-let, a For Lease sign is placed in a prominent position on the property (with the Landlord's &/or Strata Management's consent).

Pre-Vacating Inspection Results - Landlord Advised
•	The Landlord is advised of:
o	Any repairs or maintenance required (quotes obtained, if required)
o	Current market rent range
o	Confirm Marketing Campaign.
 
Final Inspection Completed
•	Once all keys have been returned to the office, the Final Inspection is to be completed. Final Inspection must be completed within 48 hours and Bond must be dispersed or an application made to Tribunal within 10 clear business days. (14 straight days)
•	Where possible, the Final Inspection is to be carried out in the presence of the Landlord
•	Keys are checked to ensure that all keys issued are returned and that no locks have been changed.
•	The Condition Report that was completed by the Tenant at the commencement of the Tenancy is checked for discrepancies, the Final Inspection details is completed in the allocated space on the report and on the Rental Bond Release Form.
•	Photos are taken of any discrepancies.
•	The Tenant must be given the opportunity to rectify any discrepancies.
•	If discrepancies can not be resolved, contact Owner for instructions, an application to the Tribunal may be needed to resolve outstanding issues. If appropriate, complete a Condition Report for the incoming Tenant.
  
Arrange Repairs (Where Necessary)
•	Where necessary, work orders are prepared on the computer and 	forwarded to the appropriate contractors.
•	If payment for work carried out is to be claimed from the Tenant's bond, the Creditors invoice is to be paid with the Landlords funds.
•	Invoices for the work are created for the Tenant (on the computer) allocating payment of the funds to the Landlord, be sure to note on the invoice that the matters are related to the Bond claim.
•	The Landlord will be reimbursed when the Bond claim cheque is received by the Agency - this will allow us to maintain a good credit rating with our contractors.

Rental Bond Claimed
•	After all appropriate Bond deductions are confirmed and calculated, the Rental Bond Claim Form is to be: 
o	Completed
o	Signed 
o	Faxed to the Rental Bond Board 
•	When the landlord is claiming funds from the Bond, the Tenant is requested to sign the Rental Bond Claim Form to ensure rapid payment of the funds to both parties.
•	When both parties agree on the bond refund, agent is to fill out Bond Release Form and give to Senior Property Manager to sign off, then Property Manager is to fax Bond Claim Form original to RTBA, attach confirmation to the back and give all forms to Accounts Clerk to complete and process bond.

 List Tenant with NTD (National Tenancy Database)
•	All tenants should be registered with NTD online, outlining whether or not they are recommended.