Are you finding it difficult to rent a house?
Is finding a place in a new suburb is a daunting task?
Being a first-timer in Australia, you find yourself in the dilemma to find a suitable property in the right area or suburb to live in. The rental market in Australia moves quickly which makes it hard to find the right rental property. But, with the support of proper guidelines and few tips, one can find a new home in Australia significantly easier. Here are the steps to consider before renting a House:
Cost of renting a house/flat in Australia
- Bond (4 weeks rent) and the rent (at least 2 weeks rent in advance) – $3,000
- Setup fees for electricity and gas – $200 – $300
- Setup fees for water use (only if you lease a house) – $100 – $200
- Setup fees for telephone connection and modem for Internet – $200
- Buying equipment (furniture, appliances etc.) – $2,500
- Monthly bill for the phone connection / the Internet – $50 – $100
- Bill for the energy consumption (electricity, gas) every three months – $300 – $500
- Rent (it is usually paid once in 2 weeks) – $600 – $1,000
Choosing the right location
- Visiting a few neighborhoods and roam around to get a hold of the area, is the best way to kickstart the process. Put some efforts to check out the estate agent windows to understand if the area is within budget.
Magnify your Search
- Most preferable way to carry out your hunt for suitable place, is by enlisting the help of property search websites like https://www.realestate.com.au/buy, https://www.domain.com.au/, https://homesales.com.au/ and start looking for what falls within budget confine in accordance with the selected location.
- Many real estate agents manage rental properties which actually saves time, provide in-depth knowledge about a local property market, negotiate on your behalf and ensuring all paperwork are dealt correctly.
How to deal with Agents
- If you narrow down to a property then you must not shy away to chase the agent as the rental market can often be competitive. Agents can be easily found on every main street in the suburb with the in-house rental property departments which mainly advertise and promotes the rental properties in their display windows.
- You might find some hiccups to find a place as the rental agents will only show you specific properties, but they will not organize visits or escort you to multiple properties.
So always be prepared to deal with several agents as you proceed for a rental property.
Preparing application for the property
- Due to the competitive nature, the agents usually take more than one application for a property at a time, so always be precise and cautious while submitting the application enclosing all the correct information.
- Renting is profoundly regulated process in Australia where you will have to pay a month’s rent in advance
Applications requirements detailed below:
- Proof of identity showing your name and address (passport/driver’s license)
- Proof of income, bank statements for the last three months
- References – one of the most important parts of the application. This will include the applicant’s current employer and personal references
- In some cases, you might be asked to put down a deposit with their application. This will be returned if you do not get the property.
- A letting agent will probably also run a credit check on you
Once everything is cross-verified by the estate agent, the whole application will go to the owner of the property for final approval.
Signing the Lease
- Bonds: Next step is to settle the first month’s rent. Also, you will need to pay at least six weeks’ worth of rent as bond for your landlord. This basically functions like security deposit where the bond safeguards the owner/landlord from any damages incurred to the property.
- Bond Governing Bodies: In all states, the bond is kept by an independent government-owned body, except Tasmania and the Northern Territory.
- Utilities Check: Before signing, inquire with the managing agent for accounts set up with any utility providers to save the connection fees.
- Tenant Association: Interestingly, each state has a tenant’s association which aims to protect the rights of the tenant and additional support. Having them by your side is always helpful and its best to find their main offices in your area.
As an Australia PR Visa holder, you may consider the aforementioned guidelines which gives you an insight in renting a place for your initial stay.