NSW Multiple rental application

Discussion in 'Property Management' started by david_fintech, 24th May, 2022.

Join Australia's most dynamic and respected property investment community
Tags:
  1. david_fintech

    david_fintech Well-Known Member

    Joined:
    15th Dec, 2020
    Posts:
    49
    Location:
    Sydney
    Is the rental agreement only binding upon paying the bonds? Can a tenant reject and refuse to pay bonds after the application is accepted by the landlord?

    I suppose a tenant can submit as many rental applications as they wish at the same time and decide to cancel later?
     
  2. RENI99

    RENI99 Well-Known Member

    Joined:
    17th Nov, 2019
    Posts:
    651
    Location:
    Bribie Island
    Its binding at the time of them signing the lease.
    So they could be applying for multiple properties per day.
    And might be accepted for more than 1. Then they decide which one to sign lease for.
     
  3. Mel Morgan

    Mel Morgan Sydney Property Manager Business Member

    Joined:
    6th Jun, 2017
    Posts:
    1,448
    Location:
    Sydney
    Applying for a property doesn't make it binding. When you pay the 1 week holding deposit, that's still all you're committed to. Its only once the lease is signed that you would have to pay to break the lease.
     
    Scott No Mates likes this.
  4. Tom Rivera

    Tom Rivera Property Manager Business Member

    Joined:
    1st Jul, 2015
    Posts:
    2,718
    Location:
    South East Queensland
    Is the rental agreement only binding upon paying the bonds?
    Arguably- if you've accepted the terms of tenancy offered and paid 'consideration', which is usually any funds towards the initial rent and bond, it can be considered that you have a contract in place.

    Can a tenant reject and refuse to pay bonds after the application is accepted by the landlord?
    Yes, absolutely. If you are approved and decide you don't want to go ahead before paying and funds or signing a lease, you can definitely withdraw your interest.

    I suppose a tenant can submit as many rental applications as they wish at the same time and decide to cancel later?
    Absolutely- I'd encourage it.
     

Buy Property Interstate WITHOUT Dropping $15k On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia