In our efforts to make buying, leasing and selling #BetterForEveryone, Think Property & Co have switched many of our processes to a sustainable paperless system.
We recognise the value of improving our environmental footprint and encourage those in the real estate community to join us by implementing everyday changes that will help save our planet. This month’s TP&Co blog explores the various paperless strategies estate agents can enlist to reduce environmental impact – while simplifying the administration process for all involved.
Condition Report:
When a tenant makes their bond and first months rent payment, it is a necessity that both the landlord and tenant supply a Condition Report at the commencement and conclusion of the tenancy. Since going paperless, Think Property & Co are using integrated Property Management software ‘IProperty Express’ to conveniently complete condition reports online.
Tenant Transfer and Lease Agreement:
A lease agreement is a contractual arrangement defining the terms and conditions under which a tenant agrees to rent a property. It grants the tenant access to the property for the specific timeframe, in exchange for regular payments to the landlord.
A tenant transfer refers to instances whereby a tenant decides to transfer the remaining interest in the property to another tenant. An example of this is when a tenant signs a 12-month lease agreement but decides to terminate the lease after six months – resulting in another party moving in and commencing their lease.
TP&Co action both tenant transfers and lease agreements via Docusign, an online platform for creating and securely distributing agreements, allowing tenants and landlords to share and electronically sign documents. In addition to the significant environmental benefits of digitally completing these forms, they are automatically saved to each file, ensuring added convenience for our team, tenants and landlords alike!
RTBA:
Consumer Affairs‘ Residential Tenancies Bond Authority (RTBA) is responsible for all Victorian residential tenancy bonds. They have recently made a commitment to go paperless, switching to electronic transactions via RTBA Online – a secure and innovative approach to completing bond transactions. From the first of October, TP&Co will begin to execute bond lodgement and claim forms exclusively online via the RTBA. This system will be mandatory for all estate agents from December 9, 2019. View the information guide here.
7 Years:
By law, estate agents are required to preserve key property records for 7 years. Electronically storing these documents provides convenience and security, preventing chances of loss or damage and making it easier to re-produce files if required.
It’s crucial that estate agents consider the environmental influence of everyday processes, investigating areas in their business where eco-friendly changes can be made. Interested in learning more? Contact the friendly team at Think Property & Co today. A better industry is #BetterForEveryone.