What is a lease?
A lease, also called a residential tenancy agreement, is a legal contract between tenants and landlords. A lease outlines:
- the amount of rent and how it is to be paid
- the length and type of tenancy
- the amount of bond required
- other conditions and rules.
There are generally two types of leases:
There are generally two types of leases:
- Fixed term – a fixed-term agreement is for a set period of time, usually six or 12 months. After a fixed-term lease expires, a tenant can sign a new fixed-term lease or roll automatically onto a periodic lease.
- Periodic lease – a tenant will usually roll over to a periodic lease when their fixed-term lease ends. In a periodic lease, the tenant does not sign a new agreement, but must still follow the rules set out in the original lease.
Leases can be written or verbal but both need to comply with the Residential Tenancies Act 1997 (the Act).
Consumer Affairs Victoria recommends the use of written leases.
Written agreements must use or follow the wording of the official Residential tenancy agreement (PDF, 944KB).
Extra terms and conditions may be included, but these must otherwise comply with the Act.
NOTE : A tenancy agreement is a legal contract
between you and your landlord.
It outlines:
• the rent you need to pay and how
to pay it
• the length and type of tenancy
• the amount of bond required
• other conditions and rules.
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