Monitor and Manage Lease or Tenancy Agreement †MyAssignmenthelp

Question: Discuss about the Monitor and Manage Lease or Tenancy Agreement Management. Answer: Introduction: The tenant is entitled to confidentiality with regards to how their personal information is used by the lessor. The information may be with regards to their sources of income and financial institution they are using. Other confidential information may touch on race, religion and sexual orientation. This information is confidential and protected by the law and should not be divulged to third parties (OAIC, 2017). Third parties may include marketing companies and financial institutions which may use the information to solicit business from the tenant. The tenant information may not also be shared with other lessors within the particular area. This may unfairly prejudice the tenant in the event that they do not conclude and sign an agreement with the first lessor. This may be in the form of credit reports about the tenant. The fixed term contract can be extended by the tenant and lessor agreeing to sign a new agreement or by doing nothing so that it lapses into a periodic agreement until completion of the expiry date (NSW, 2017). Before the fixed term can be extended the tenant needs to give the mandatory 14 days notice to the lessor of their intention to extend the lease. The periodic agreement can also be formalized as an agreement which is continuous or monthly (Tenants Union Act Inc, 2016). If there are changes in the current terms, then a new agreement should be signed which spells out the material changes as a new agreement Management. This involves signing a new tenancy agreement using form the New South Wales 2010 tenancy form and both parties should retain copies for reference. New fixed term agreements spell out the terms and conditions between the lessor and tenant. This is set out in the Residential Tenancies Regulation 2010 Schedule Form (NSW, 2017). The form also contains an addendum for properties with swimming pools or spas which should also be filled.The agreement should state the personal details of the tenant, starting and expiry date and terms of payment. The standard terms of delineating boundaries of what the two parties can and cannot do are also set out. Additionally, special terms if any are also included in the agreement. The tenant is presented with the appropriate form to fill out and append their signature. This must be done within a short time window of getting the form. The lessor then also signs and gives the tenant a copy which is signed. The lessor has limited time within which to give the tenant the signed copy. References NSW. (2017). Completing a Tenancy Agreement Management. NSW Fair Trading. Retrieved from https://www.fairtrading.nsw.gov.au/ftw/Tenants_and_home_owners/Being_a_landlord/Starting_a_tenancy/Completing_a_tenancy_agreement.page OAIC. (2017). Tenancy. Retrieved from https://www.oaic.gov.au/individuals/faqs-for-individuals/tenancy/ Tenants Union Act Inc. (2016). Do I have to sign a new Lease when my Fixed term Lease ends? Retrieved from https://www.tenantsact.org.au/do-i-have-to-sign-a-new-lease-when-my-fixed-term-lease-ends/