A Property Condition Report (PCR) is an essential document prepared by a property manager before a tenant moves in. The PCR contains a comprehensive report on the condition of the property, including an inventory of contents (if applicable), pre-existing damage or faults (ideally with photos), and is legally binding.
The purpose of the PCR is to compare the property’s condition at the start of the lease with that at the end, taking into account fair wear and tear. Within seven days of the lease commencing, the incoming tenant must receive a copy of the PCR and check every item listed, make comments, and submit photos if they disagree with anything stated. If the tenant fails to return the PCR within seven days, they accept that all information in the report is accurate. The tenant is then liable for any damage not listed in the PCR.
What is a Property Condition Report Used For?
It’s important to note that the PCR is not for reporting maintenance items, such as a faulty hot water system or oven. Instead, it is for superficial items, such as chips in paintwork or carpet condition.
Only a qualified property manager should complete the PCR to meet legal requirements. The preparation of PCRs is a high-priority and time-consuming task, and as such, owners should be cautious of agencies that don’t charge a fee to prepare them.
Speak to our Property Managers Today
At Network Exchange Realty, we believe that a picture paints a thousand words. We ensure that hundreds of photos are taken to support each PCR, protecting the interests of both owners and tenants.
Contact us or call (08) 9388 3335 for further information about the importance of PCRs for landlords and tenants.