When it comes to renting a property, it is important to have a solid understanding of the legal documents involved in the process. One such document is the residential tenancy agreement form REIV, commonly known as code 135. This form is a standard agreement used by landlords and tenants in Victoria, Australia, to outline the terms and conditions of a rental arrangement.
The residential tenancy agreement form REIV covers a wide range of topics related to renting a property, including rent, bond, and the responsibilities of both the landlord and the tenant. It also includes details on the property itself, such as the address, number of bedrooms, and any additional amenities or features.
One of the key benefits of using code 135 is that it is a standard form recognized by the Real Estate Institute of Victoria (REIV). This means that both landlords and tenants can feel confident that they are working from a document that has been endorsed by a reputable industry association.
Another advantage of using this form is that it helps to ensure a fair and transparent rental agreement for both parties. The form includes a detailed breakdown of the costs involved in renting the property, including any additional fees or charges that may apply. This can help to avoid disputes or misunderstandings later on in the tenancy.
It is important to note that while code 135 provides a standard framework for a residential tenancy agreement, it is still possible to customize the document to suit the specific needs of both the landlord and tenant. For example, additional clauses can be added to cover specific issues or arrangements.
Overall, the residential tenancy agreement form REIV (code 135) is an essential document for anyone involved in renting a property in Victoria. By using this standard form, both landlords and tenants can ensure that they are working from a document that is fair, transparent, and recognized by industry professionals.