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What is rent in advance?

26 October 2021

Photo by Max Vakhtbovych from Pexels

Rent in advance is simply the first rent payment landlords require tenants to pay to secure the property.

The tenant cannot be asked to make another rent payment until the rent in advance has been used up. A landlord can request a tenant to pay a maximum of 2 weeks in advance. However, a landlord can accept a larger amount in advance (e.g. 3 months) if the tenant voluntarily chooses or offers to pay more rent in advance. Advance rent is not a security deposit and not a bond. Therefore, it can't be used to cover property damage.

You can specify a date the 'Rent in advance" is due on your tenancy agreement. If using myRent to create tenancy documents, this option is available when setting up your tenancy agreement by following the steps below:

Step 1: Go to the Tenancy agreements section of your tenancy

Step 2: Click on Create a tenancy agreement or Continue with your agreement (if you have started one already)

Step 3: Click on Term, rent and bond

Step 4: Under First rent, click on Edit to nominate or edit the amount of rent you would like tenants to pay (one week or two weeks) and the due date of this payment.

Step 5: Press Save to Save and Continue

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