Renting for the first time can be a little intimidating, so we have made a list of helpful information to get you into your rental!
Do your research
Before applying for a rental property, it is important that you do your research. Obtain as much information as you can on the area and type of property that you are searching for. Use the internet to seek available rentals, and also ring local Agencies to let them know what you are looking for. They may have suitable properties that they know are coming up for rental in the near future.
If you find a property on the internet that you like
It is always best to have a drive-by first (If the property is on or near a busy road, it’s a good idea to go by at different times of the day). This will ensure that you get a feel for the property itself, as well as the street / neighbourhood, and if you feel that it meets your requirements, ring the agency to put your name and number down for a viewing.
Be prepared before filling out the application
When filling out a rental application, firstly be prepared and organized. Be sure that you go through each page thoroughly to ensure that each required-section has been filled out correctly by each applicant. If you are unsure of any section on the application, you can always call the relevant agency to help you through it. Each applicant is required to provide contact details of good references and to have at least (3) forms of ID, and a proof of income. Having the documentation ready-to-go will speed up your application-process, and may give you a head-start against the other applicants.
Know your limit
It is always best to work out how much rent you can afford to pay before you start looking at properties. This will ensure that you are only viewing those ones that are in your price range.
Attend the viewings!
It sounds obvious, but you need to attend the viewing. By law, you are required to view a rental property before applying. If you are unable to attend the viewing, it’s best to let the relevant Property Manager know, just in case it is not rented out the first-time round, and there is a second viewing.
Know what your up-front costs will be
There are some significant costs that you will be required to pay before moving in, so knowing what your outlay will be is essential when planning your finances. You will be required to pay two weeks rent up front, plus a bond which is calculated at four weeks rent, and possibly a pet bond of $260 (if applicable). The bond is held with the bond administrator, and it is important to know that if you are moving out of one rental and into another, you will not receive your bond back from your old rental until after you have moved out and the paperwork is all complete, and the bond administrator releases the money to you…so that means that you will have to outlay the new bond from the new property, before you receive the bond back from your old rental property.