We want to say a big thank you to everyone who joined us at last night’s webinar, Get it Right: How to Navigate the minefield of Residential Tenancy. It’s fantastic to see so many of you spending a Thursday night to invest in your success.

Related video: Get it Right: How to Navigate the Minefield of Residential Tenancy

Here are the answers to the questions we didn’t manage to get to during the webinar:

Q: Are property managers required to operate a trust account? If not, when will it become a requirement?

A: Property managers are not required to operate a trust account though it is certainly preferred and best practice to. Clause 47 of the Residential Property Managers Bill (expected to in force 18 months after the Act receives Royal Assent) requires registered property management organisations to operate trust accounts. 

Q: Where can I find an up-to-date version of the Residential Tenancies Act? 

A: Here.

Q. Can tenancy agreements be self-made? 

A: Yes, so long as it meets all RTA requirements (in particular, ss13, 13A and 11). 

Q: What does opting in and opting out of the RTA mean? 

A: The RTA sets out minimum standards for tenancies that it captures. Parties to a captured tenancy cannot opt out of the Act. However, parties of excluded tenancies (see s5) can voluntarily opt into the RTA either in full or in part. 

Q: How do I know if I am operating a boarding house? 

A: See here for more information. 

Q: Is there a template for rent receipts? 

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