Prepare to rent
Whether you are a lessor / landlord or tenant - you should make sure you do your homework before signing a rental agreement.
Make sure the property meets your day-to-day needs. Ask yourself:
- Can you pay the rent and still have money to live?
- Is it close to shops, schools or public transport?
- Is it suitably maintained and secure?
- What type of agreement would suit you (periodic or fixed-term)?
It's important to shop around to avoid making rash decisions about renting. There can be significant up-front costs, so think carefully about what you can afford. To rent a house at $380 per week could cost you about $2,500 to move in. You could have to find the money to pay for:
- rent in advance (two weeks): $760;
- a security bond (equivalent to a maximum of four weeks’ rent): $1520;
- a bond for a cat or dog or any pet capable of carrying parasites that can affect humans (except guide dogs) (if you have one and are allowed to keep one under the tenancy agreement): a maximum amount of $260; and
- other costs associated with changing house, such as moving furniture etc.
Make sure you know what your rights and responsibilities are.
- Use the proper notices and forms
- Are you going to manage the property by yourself or use a property manager?
- Are you going to use a tenancy database
- Do you know how to lodge, change or release a bond?
- Are you charging a pet bond?
- Are you recording rent payment correctly?
- Are their any maintenance or security issues needing to be addressed?
- Check out the landord checklist for a full list of tips on managing your property.
- Watch the videos about the renting laws.
More information about renting a property is available in the guides for tenants and lessors and rental law videos