The secret to being a happy renter
University students Holly Kernahan, Maddison Davey and Tamsin Wight share a house to keep costs down, and say it helps to know your housemates before making the move. Picture: Nicole Cleary
THREE OF A KIND:
RENTERS looking for a new lease need to be wary before signing on the dotted line.
This time of year is particularly busy for many of the one million university students undertaking study and hunting for rental accommodation at the same time.
Holly Kernahan, 24, and her two housemates – Maddison Davey, 24, and Tamsin Wight, 26 – pay $445 a week to rent a three-bedroom home.
Ms Kernahan said they were on a 12-month lease and had a good arrangement in place to split costs.
“It works really well; I organise all the bills and have a main account that we transfer rent into,” she said.
“Maddy and I went to Inspect the property. Ask the agent plenty of questions.
Check the term and conditions of the lease.
Make sure you can afford the bond and rent.
Choose your housemates carefully.
Make sure all tenants are on the lease.
Fill out an inspection report before moving in.
school together and I met Tamsin while travelling, so we all knew each other, which helped.”
The trio has lived together for nearly a year.
Ms Kernahan suggested tenants try to live in a share house with friends or relatives instead of strangers, because there was a better chance of it working out.
Realestate.com.au spokesman Andrew Russell said tenants should be sure to get a property application together when hunting for a home.
This includes all personal information, such as employment status and references, so they’re ready to go.
“Make sure you get your finances in order, too,” Mr Russell said.
“You need to be careful when you are signing lease documents and those who you are signing it with.”
Be sure everyone can comfortably afford the weekly rental costs as well as the upfront bond, and that you are signing a lease with a reputable agent. Also, make sure you understand the terms and conditions of the lease.
This includes things such as whether pets are allowed, who is responsible for garden maintenance (if there is one) and what are amenities are supplied with the property.
Real Estate Institute of Australia president Adrian Kelly said it paid to check where your bond would be going and to be sure you could cope with the rental costs.
“Make sure all names are on the lease,” he said. “Make sure costs are split equally and read through the lease. Don’t go on a verbal arrangement.”
Mr Kelly also warned tenants to take our contents insurance before moving in, so if something were to go wrong while living there, they would be protected.