A loan bond/guarantee is an amount that the tenant pays to the lessor to ensure that the tenant fulfills all obligations arising from the tenancy agreement. The lessor holds the deposit for the duration of the trust lease to ensure that the tenant is not in default under the terms of the tenancy agreement or that he is damaging the property. If the tenant damages the property (without normal “wear” or if the tenant has not paid rent, the tenant has the right to recover the amount due from the deposit. As a general rule, the tenant must make the deposit available to the landlord at the beginning of the term of the tenancy agreement. At the end of the term of the tenancy agreement, the tenant recovers the deposit reduced from any deductions for repairs/restorations. There is no minimum or maximum duration of the agreement under the Northern Territory Act. The Housing Act only applies to certain types of leases. For example, it does not apply to agreements regarding: A rent database (or blacklist, as it is known to all) is a list used by landlords to record personal information about the history of their tenants when they no longer have their lease. Legislation on the Northern Territory`s new Land Database began on July 1, 2018 and helps regulate the way entries are managed in these databases and helps protect tenants` rights. The legal rights and obligations of tenants and landlords are defined in the rent law.
The expiry of the lease does not necessarily end the lease. If a “periodic” term is chosen, the lease is automatically renewed on the same terms as the first lease, unless it is amended by a formal termination, in accordance with the law. A one-year “periodic monthly lease” is therefore in fact 12 separate leases, automatically renewed. The lease is automatically renewed until one of the parties wishes to terminate the lease (by a correct termination, as required by law). Only tenants and persons registered as occupiers may reside in the premises. The landlord must be informed and approved of any changes to the list of authorized tenants.