Common Items Missing in a Handover Property File — and Why They Matter
In property management, smooth transitions are built on solid documentation.
When a property changes hands between managers, the handover file is the critical foundation for ongoing compliance, clear communication, and operational efficiency.
Unfortunately, I’ve seen far too many handovers where files are incomplete, inaccurate, or missing key documents. This doesn’t just create short-term admin headaches — it can lead to compliance breaches, disputes, financial loss, and reputational damage.
In my work within rent roll transitions, broking and advisory, I’ve learned that a meticulous handover review is non-negotiable. Below are the most common gaps I encounter — and why they matter.
1. Bonds — The First Compliance Check
A tenant’s bond is far more than just “a bond” — it is a legally mandated safeguard for landlords and a layer of accountability for tenants. Mishandling bond information is one of the fastest ways to land in hot water with Fair Trading.
What to check:
- Up-to-date status – Cross-check that the lodged amount matches the lease agreement. An incorrectly lodged bond can result in compliance penalties and weaken your ability to make deductions at the end of the tenancy. With rental increases and a rapid changing rental market, is the existing bond enough to cover the current rent? Is a top-up needed?
- Duplicate bond codes – Look out for more than one active bond code for the same property. This often happens when a previous bond wasn’t released before a new one was lodged — creating administrative headaches and delaying claims.
Old bond release – Ensure any previous tenant’s bond has been fully refunded or claimed before the current tenant’s bond was recorded. Overlapping bonds can cause disputes over entitlement and release timing.
Why it matters:
Incorrect or missing bond records can cost the landlord thousands, reduce your ability to recover damage costs, and risk fines for non-compliance. This is non-negotiable when purchasing or selling a rent roll.
2. Ingoing Condition Reports — Your Baseline Evidence
The ingoing condition report is your primary evidence for the property’s state at the start of the tenancy. Without it, holding tenants accountable for damage or neglect becomes extremely difficult. Too many rent roll sales we have seen missing ICRs because the vendor selling accepted a property from another agency at handover, at some point in the past, without an ICR.
What to check:
- Legislative compliance – Reports should include detailed written descriptions.
- Agent’s signature – Is the report signed by the Agent?
- Tenant acknowledgment – Has the report been delivered to the tenant? Current day means a digital footprint is created when the report is emailed or provided to the tenant. However, there are rent roll transitions we see when some tenancies are up to 20 years old. Old triplicate copies were in place back then, therefore how was the ICR delivered?
Why it matters:
Without a properly completed ingoing condition report, tribunals may rule against the landlord in damage claims — even if the damage is obvious.
3. Lease Documentation — The Legal Foundation
The lease agreement is the rulebook of the tenancy. It defines rent, obligations, notice periods, and dispute resolution mechanisms.
What to check:
- Current lease on file – Ensure you have the active lease showing all terms and conditions, signed by both parties.
- Full tenancy history – Keep the original signed lease, plus any renewals, addendums, or variations. Missing a renewal document can create legal uncertainty
Why it matters:
Without a valid lease on hand, enforcing rent increases, ending a tenancy, or pursuing breaches becomes legally complex — and sometimes impossible.
4. Routine Inspection Reports — Proof of Ongoing Care
Routine inspections are both a compliance requirement (in many areas) and a risk management tool.
What to check:
- Inspection frequency – Verify that inspections have been carried out as required at least once per annum.
- Detail and clarity – Reports should contain specific notes, photographs, and follow-up actions. Generic “all okay” comments won’t help if you need to prove neglect.
- Maintenance follow-up – Ensure that any issues flagged during inspections have corresponding repair orders or communications. This protects the landlord from accusations of neglect.
Why it matters:
Skipped or vague inspections can lead to major repair bills, unsafe living conditions, and even insurance claim denials.
5. Keys — Access and Accountability
A simple but often overlooked detail: keys. Missing or mismanaged keys are both a security risk and an operational headache. We have seen rent roll sales whereby many properties are missing spare keys, resulting in a key bond being put aside for the duration of the sale.
What to check:
- Spare sets in agency possession – Keep at least one spare set securely stored for emergencies.
- Proper labelling – Keys should be tagged in a way that’s identifiable to staff but does not include the property address for security reasons.
- Issuance records – Maintain a log of who has keys and when they were issued or returned. Without records, it’s impossible to confirm secure control of the property.
Why it matters:
Poor key management can delay emergency access, require costly lock changes, and compromise tenant safety.
6. Tenancy Application Forms — Your Screening Record
A complete tenancy application is your evidence of due diligence. In a dispute, it shows you conducted a proper vetting process.
What to check:
- Complete application on file – This should include ID, proof of income, rental history, and references.
- Verification records – Keep evidence that you checked references and income before approval. Without verification, landlords may claim negligence if issues arise.
- Privacy compliance – Store applications securely in line with privacy laws. Mishandling personal information can lead to regulatory fines.
Why it matters:
If the tenancy goes wrong, your application records prove you acted in good faith and followed a responsible screening process.
Final Thoughts
A complete and well-organised handover property file is more than just good practice — it’s your insurance against disputes, compliance breaches, and operational setbacks. Every missing document is a potential liability.
Before moving forward on a rent roll sale or purchase, consider these critical handover property file items.