Getting started
Information to consider before entering a rental agreement
It's important to shop around and avoid making rash decisions about renting. There are significant up-front costs, so think about what you can afford. If you are young and considering leaving home, make sure it is for the right reasons because it may be simpler and cheaper to continue living with your parents.
Think carefully about whether the property meets your day-to-day needs. These needs might include our capacity to pay the rent, proximity to shops, schools or public transport, even how safe you might feel in the home. Don't forget too that there are hidden costs associated with moving house, such as the expense of moving furniture, etc.
More importantly, to rent a house at $100 per week could cost up to about $700 to move in. You would have to find money to pay for:
- rent in advance (two weeks) $200;
- security bond (equivalent to a maximum of four weeks' rent) $400; and
- bond for a cat or dog (if you have one) $100.
When you've scoured the newspaper "to let" columns and found what you think is the right property you then need to enter a tenancy agreement.
Types of agreements
Rental agreements are either periodic or fixed term.
A periodic tenancy has no pre-determined finish date but continues on with the same terms and conditions until giving the appropriate notice terminates it.
A fixed term tenancy is an agreement in which a tenant rents the premises for a set period with a specific start and finish date. It provides more certainty and security for both parties.
Application forms and option fees
Some landlords, private owners and agents can ask you to complete application forms, so they can assess whether or not to accept you as a tenant. The landlord may also ask for an option fee. If an agreement is signed, this fee can be put towards the rent. If a tenancy is not offered, this should be refunded.
Put it in writing
Put the tenancy agreement in writing showing your details, the landlord's and any other tenant's. It includes relevant dates, rent requirements and special conditions. Make sure both parties sign it.
Don't leave any blank spaces on the agreement paperwork.
If you're dealing with agents, they will provide a form. If not, standard Residential Tenancy Forms can be purchased at most newsagents.