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In order to rent or lease in many apartment buildings, a renter (also referred to as a “lessee") is often required to provide proof of renters insurance before signing the rental agreement. There is a special type of the homeowners insurance in the United States specifically for renters — HO-4.
Rental housing in Victoria is currently in high demand under pressure from high population growth. As a result, rental housing can be difficult to obtain, particularly affordable rental housing. Prospective tenants often offer to pay more rent, several months rent up front and other incentives to landlords to secure housing.
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Part of the Wellington Street, Collingwood Housing Commission building built 1971. 47 of these template designed steel framed concrete towers consisting of pre-cast slabs covered in exposed aggregate, some as tall as 20 to 30 storeys, were constructed across inner Melbourne during the 1960s and early 1970s.
A triple net lease (triple-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") on the property in addition to any normal fees that are expected under the agreement (rent, utilities, etc.).
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