So, you are moving to a new place in Australia? Moving into a new rental house is exciting. But then, the thought of finding the perfect property in a convenient location within your budget comes to mind. Let’s assume you are looking forward to renting a house in Wollert or Craigieburn. These locations are amazing, no doubt about that, but do you know if they have everything on your checklist?
And the confusion on rental and associated charges, inclusions in rental agreements, legal documents, etc., makes it more daunting. The hassles of packing and shifting are add-ons.
It’s easy to rush into taking the first affordable property you come across for rent, but it would be wise to consider everything in detail. Here is a list of all the prerequisites for renting a home in Wollert, Craigieburn, or Mickleham, Australia. Now buckle up and get started reading this article.
Checklist of things you need to know before renting a property
Go through the checklist given below to understand what you will needwhen looking for a house for rent.
1. Is the location convenient for you?
Finding the ideal location is like adding the secret ingredient to make a dish look delicious. Because the right location can elevate your living situation to great extent.
Whether you are shifting alone or with your family, security is highly important. So, here, choosing a location that’s known for its low crime rate and friendly neighbours can make you feel more at ease and have peace of mind.
In addition, living in a vibrant community with a bustling social scene can improve your quality of life.
Whether you want to choose a house for rent in Wollert or Craigieburn, it must have amenities near your property for rent.
You don’t have to worry about late-night cravings or drive miles to get your favourite pizza.
2. Does it have everything you need?
The houses for rent in Craigieburn, Wollert, and Mickleham, like many suburban areas in Australia, often have modern infrastructure, larger property sizes compared to urban areas, and some other advantages, like easy access to supermarkets, healthcare facilities, public transportation options, restaurants, proximity to nature reserves, walking trails, etc. So, the rent could be high. But there are affordable options too. Visit RIC Realty to check all the available options within your budget.
In addition to that, you may have dreams of an open kitchen or buying an expensive car in the future. So, make sure the rental apartment and complex have all you need for your comfort and convenience.
3. Is the property within your budget?
Renting a property is a big financial commitment because you have to pay your rent on time to avoid any disputes with your landlord. This is why you must consider the budget.
Also, put yourself in this situation: you visit a property for rent, and it fortunately ticks all the things on your check list. But when you enquire about the price, it is way too much for the budget you have in hand.
To avoid such situations, fixing a budget can help you find houses for rent that fit your budget.
Meanwhile, this practise also avoids overspending. Lastly, did you know that rent is just one of the costs associated with renting a property? Yes, you will definitely have some extras. For instance, you may need to pay for utilities, parking, and security deposits. By budgeting for these costs, you can make sure you can afford to live in the property you choose.
4. What are the charges or associated costs involved?
First, there are the monthly rent and maintenance charges. Maintenance for common areas and property management aspects, such as water taps, electricity boards, and wiring, might not be at the top of your checklist, but the expense of heavy interior or outdoor damage repair or colouring walls can be a matter of debate. So, you have to be well informed about every term and condition associated with overhead costs.
Before you rent a property, ask the rental agency the following questions:
- What will the brokerage costs be? If you’re already a customer of any estate agency, you could ask about a loyalty discount at the brokerage.
- What is the base rent?
- How many weeks or months of rent are required to be paid as a security deposit? Is it refundable or not?
- What are the additional expenses beyond the base rent associated with the operation and maintenance of the property?
- Will there be any further costs during the exit or tenancy renewal?
5. What is included in the rental agreement?
As per the Registration Act, it is mandatory to have a lease agreement for registered immovable property. Lease agreements outline the rights, responsibilities, and obligations of both parties regarding property enjoyment, property maintenance, and repairs. It protects the tenant from unreasonable rent hikes, ensures a consistent income stream, and reduces the risk of frequent tenant turnover for the landlord.
The following inclusions must be in your rental agreement to avoid any misunderstandings later with the landlord:
- Start and end dates of the tenancy
- Security deposit amount paid
- Payable rent amount and the frequency of payment (monthly or quarterly)
- Service/maintenance charges
- Responsibility for the payment of repairs and maintenance during the tenancy
- Responsibility for utility payments, like electricity, water, and power facilities
- The notice period for vacating the house
- Conditions of termination of the agreement
It’s important to carefully review the tenancy agreement before signing to understand the specific duration and any provisions related to renewals, terminations, or changes in rental terms. It’s always recommended to communicate with the landlord or property management to clarify any questions or concerns about the lease duration before finalising the agreement.
6. What is the duration of the tenancy agreement?
First, make sure you want to rent or lease a property. But what is that? Leasing a property means you pay an advance and rent the house for a longer period. On the other hand, if you want to dwell on renting property for a shorter period, opt to rent it.
A short-term tenancy agreement gives you the flexibility to leave the property if it disappoints. If the property, location, and neighbourhood work for you, you can continue your lease with renewal fees. Hence, renewal fees would be extra. So, if you want aproperty on rent for the long term, make this clear to the agent to avoid renewal costs.
7. Who resided on this property prior to you, and why did they leave?
It’s crucial to assess the potential risks before moving in. Understanding who lived in a property before and their reasons for leaving will help you assess the condition of the property or the overall building dynamics.
If the previous tenants left due to maintenance or structural issues, it could indicate potential concerns that you need to figure out before finalising the deal. Some people left because of conflicts with their neighbours. Assessing the overall neighbourhood, you can take the property on rent, but if the issue is related to the safety and security of the area, think twice or more before committing to the property.
8. If all things work for you, check: are all documents and paperwork okay or not?
Once you decide to move in, ask for documents such as the chain of title transfer, the overall layout, the last paid electricity and water bills, and the provision of any changes (if any) to make sure the property is free of any fraud or title issues.
Depending on local laws and regulations, landlords may be required to provide certain disclosures, such as paint disclosures, mould disclosures, or any specific information related to the property. In addition to that, ask for a move-in or move-out checklist by mentioning the condition of the property at the beginning and end of the tenancy. If any pre-existing damages or issues are properly documented, it will help to avoid further misunderstandings during moving out.
Conclusion
After spending hours viewing awful properties with the same rent, when you view a good-to-go property, it’s common to feel that there’s nothing out there and this is the only good property available. Even the broker or real estate agent will try to influence your decision by saying it’s rare to find something like this within your budget or that 6 or 7 other people have been viewing it today or in the past few days.
Don’t panic or make a quick decision in fear of losing the property in your budget. Completely assess the property before you spend a hefty amount as a security deposit.
We wish you good luck on your house hunt. Find the best property for rent in Wollert, Craigieburn, or Mickleham, Australia, by clicking below.
We know renting a property in a new place is challenging. But if you find it daunting, hire a real estate agency.
RIC Realty is here to help people achieve their dreams and aspirations through property. If you are looking to rent a property, get in touch with us and let’s find the best house for rent.
