Hi Property manager has put only one of the owners (who own the property as "joint tenants") on the lease agreement. So, instead of the lease being between, Lessor: John & Mary Lessee: Tenants We've got only John listed as leasing the property to Tenants. Is there a case for concern here, for example, if the tenants will decide to argue that the lease was invalid to start with?
Don't think it makes a difference. I've never had my spouse listed as a landlord, purely because I'm the main contact for any dealings.
If John and Mary separate and John leaves the property so only Mary resides there, you potentially have a problem. The same thing is an issue with share houses where multiple unrelated parties (eg a group of friends) rent a property together. As people come and go, the leases can get messy because the people named on the lease may no longer reside there.
I think you've got it the wrong way around. John & Mary are the owners, not the tenants. Thinking similar to @Simon Hampel though, if John & Mary split, and the PM only has John's details for distribution, there could be an issue for the family law courts.
Not the tenant's problem though - funds would sit in the REA trust account if there was any dispute between owners preventing distribution.
Oops - you are correct, I had it completely backwards. I think it's much less of an issue who the lessor is - relationship breakdown would just need a new lease created.
Thank you all, then it seems like it's not a problem. Concern was from tenants challenging the lease angle for whatever reason.
There is a potential issue if the tenancy were to be subject to Tribunal action. The Tribunal will want to see the core documents ie: Lease and Management Agency Agreement. It would be very prudent to ensure that the Landlord names on the MAA are exactly the same as the Landlord names on the lease, to avoid any possible queries at the Tribunal.
But could be the potential implication when MAA Form 6 (QLD) includes both owners, but the lease is between only one of the owners and the tenants? This is I think what I'm after to assess the risk, and see if the lease needs to be re-done.
Why did the managing agent draw up a lease with only one landlord name? What does the agent have listed as the owner in their computer software / property management trust records? The Tribunal might also query why there is a clear inconsistency between the lease, MAA and trust account records. A hard-a $ $ tribunal member may adjourn or even dismiss a tribunal application or hearing if he or she is not prepared to proceed because of these inconsistencies. Herein lies a potential risk.
Technically incorrect, but if @thatbum doesn't think it's enough to cause serious problems then I wouldn't be too stressed
