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Learners guide to renting a property

By Maria Bekiaris,
Money Magazine, October 2009

They say buying a house is one of the most stressful things you can do – but finding a place to rent is no barrel of laughs either.

There’s the trawling through real estate websites, the early morning Saturday wake-up to go to inspections, and then competing with other potential tenants who offer to pay $10 more than the asking price to secure the property!

To boost your chances of securing a property, make sure you make a good first impression when you turn up to inspections.

It might sound obvious, but a clean and tidy appearance and a friendly demeanour can help the landlord or real estate agent notice you and move you to the top of the list.

For younger tenants, for example uni students, it might be a good idea to bring along the parents as well. It also can’t hurt to hand over glowing references from previous landlords.

If you are successful you’ll need to hand over a security bond.

This is basically a deposit to protect the landlord for any damage to the property or unpaid rent. Expect this to be equivalent to about four weeks rent, although it varies from state to state. Check with the local consumer affairs department.

The bond will be refunded to you when you leave the premises assuming the property is in similar condition to when you moved in, normal wear and tear excepted.

You’ll probably be asked to pay a couple of weeks rent in advance as well, so you’ll need to have a fair sum saved up before you can rent a property.

You’ll also have to sign a lease – basically a legal document outlining the terms and conditions of the tenancy. You’ll also be given a condition report.

This basically is a checklist describing the condition of the premises that the landlord/agent has filled in.

Make sure you check it carefully and that they haven’t missed anything important such as a chip in the wall or a cracked shower screen.

If they have, make sure you add it to the condition report.

If not it could mean that when the tenancy is over this will end up being deducted from your bond, even though the damage was there when you moved in.

Once you’ve moved in it’s your responsibility to keep the property clean and tidy. The landlord does have the right to inspect the property to make sure you’re taking care of it.

They are required to give you seven days notice before coming for an inspection.

If something goes wrong and repairs are needed, it’s also your responsibility to tell the landlord or agent about any damage as soon as possible.

If the repairs are urgent, for example a burst water service or a gas leak, but you can’t get in touch with the landlord or agent, you may be able to organise the repairs yourself (up to $1000) and be reimbursed.

Your lease should have this information and will probably list the tradesperson you can use.

One issue you may face is the landlord upping the rent – if you’re on a fixed lease that is unlikely to happen unless there’s a special clause. If you’re paying on a week by week basis it’s a different story – the landlord can increase the rent but will have to give you notice.

Money Magazine's October 2009 issue is out now. Subscribe now.