RENTING A HOME?
Here’s what you should know…
MAKE YOUR NEXT MOVE STRESS FREE WITH EXPERT TIPS TO SECURE THE PERFECT PLACE
A1 START BUDGETING
re you planning on making a move or perhaps you need some extra space? Or maybe you have a child who is taking their first steps into renting a share house or going it alone? Renting a home these days isn’t as simple as filling out a quick form and having enough money for the bond. Alya Stephen from Sorted Services shares her expert advice on what to consider when it comes to getting all the prep work done to easily sail through the rental process.
Get your finances together and work out how much money you can afford to put towards your weekly rental amount. Make sure to factor in bills such as wifi, electricity, gas
– all the essential stuff you will need to keep your house functioning. Don’t forget all of your other outgoings too, such as food, nights out, online shopping addictions, and some fun money, of course. It’s best to give yourself a bit of wriggle room and try to be as honest and open with yourself as possible, as you would hate to get caught out.
2 DO YOUR RESEARCH INTO RENTAL LOCATIONS
Every year, different suburbs across Australia fluctuate in rental affordability and price. It’s important to do your research into which locations best fit into your current budget and meet your overall requirements (i.e. do you need to live close to your office, or have children and want to be near local schools?). If city living isn’t within your price range, it’s also a good idea to cast your net a bit wider and check out some rental properties in regional parts of Australia. Although, you may be surprised at some of the rental prices in popular regional areas, especially beachside locations – blame COVID-19 and the increase in working from home for that.
3 FAMILARISE YOURSELF WITH THE NEW RENTERS’ RIGHTS
Always remember that renters have rights, and they are often updated. Check your state’s consumer affairs and fair trading website for the latest. If you’re based in Victoria, for example, it’s essential that you acquaint yourself with the new renters’ rights which were put into place on March 29 2021 by the
Victorian government. The law changes expand the rights and responsibilities of renters and rental providers (landlords), aiming to make renting in Victoria fairer and safer. One of the new changes is that rental providers will now need to give a valid reason if they choose to end a renter’s lease – “no specified reason” is no longer an acceptable answer. In New South Wales, for example, there was a change on March 23 2020, with amendments to the Residential Tenancies Act stating that landlords are currently required to provide the rented property in a reasonable state of cleanliness and “fit for habitation”. The changes introduce seven minimum standards which clarify what “fit for habitation” means.
4 UNDERSTAND THE APPLICATION PROCESS
Before you start your rental search it’s crucial that you have a basic grasp of the application process, how it works and what types of documents you will need to present. While you may have rented in the past, the process is forever changing and can potentially differ based on the property manager you are dealing with and the property type.