This guide walks you through where to look for a rental property, how to apply for a rental property, the costs of renting, what should go in a condition report, what to be aware of when signing a tenancy agreement and more.
First of all, you should decide what you need out of the rental property. Will it be just for you, or do you want to live with other people? What amenities do you need nearby? Will you pick an area close to the town center, or a particular school? How much can you afford to spend on rent every week?
Here are some criteria to consider:
- How much rent can you afford?
- What type of property do you prefer - a house, apartment etc?
- How many bedrooms do you need?
- Do you need parking?
- Do you want to share with someone else?
- Do you want a garden?
- Do you need a space for pets?
- How close do you need to be to public transport and other amenities?
Applying for rental property
If you've found somewhere that suits your needs and lifestyle, the next step is going to be your application.
Generally, you will contact the property manager or landlord about the home and organise a viewing / inspection. You'll want to make a good impression, and perhaps even treat it like a job interview. Your application will also likely consist of a form, where you list referees from previous tenancies. If you like what you see and the landlord likes you, it's time to take the next step!
The new tenant checklist
Before you move into a new place, you'll need a completed entry condition report that details any existing damage or other problems with the property. Be sure to fill it out with maximum attention to detail - this is why it's so important that you inspect the property beforehand. The landlord or letting agent will then sign the report, giving you a copy, and keeping one for themselves. You'll also need the following information:
- The bond lodgment form
- The entry condition report
- Your tenancy agreement
- Two copies of the report detailing the condition of the rental property
- Any repairs that will be made by the landlord, in writing
If any of these are missing, don't sign the agreement. This is because a NSW tenancy agreement is a contract that's legally binding. It can also cost a lot of money to get locked into a contract you don't want to be in, so be sure to take your time and read everything.
You will then pay a bond equivalent to 4 weeks rent plus two weeks rent in advance. We've already mentioned the condition report, which details the overall state of the property. This document plays a vital role in getting your bond back, which is another reason to fill it out as accurately as possible.
For any further questions, you can get in touch with us here at LJ Hooker, or use any of these government resources to get your questions answered.