Finding rental properties: The must-know guide for any renter
You’ve just received a promotion and your savings have never looked better. You look around at your tiny studio flat, and think “I can do better than this.” Then, it’s time to hit the rental market. To find rental properties, you must take on the challenge of scanning apps, newspapers and newsletter for properties.
Firstly, why rent?
In a housing market, where house and apartment prices in metropolitan cities have skyrocketed above-average incomes, renting has become the cheapest and smartest option. Whilst many of you might be masters of renting, there are plenty of people entering the market for the first time with very little knowledge.
So, let’s start with, what is renting?
Essentially, renting is paying the owner of the property to live in a house or an apartment. To rent the property, you must sign a lease. A lease is a contract between the landlord and the tenant (you). Being faced with a lease can be daunting, so here are a few things to look for when examining a lease:
- The amount of rent and when to pay it
- The length of the lease
- What may occur if you don’t pay your rent on time
- The rules to follow
- Other costs you may have to pay (body corporate fees, energy, water etc.)
A lease may also show the cost of utilities. In some rental agreements, utilities are included in the rent! This means that the landlord takes care of these costs.
Typically a lease will last one year, however, some landlords offer 6 months. If you’re simply looking for a short lease, then some landlords also offer short stay leases.
The initial costs of renting
To find rental properties can be a challenge, and in addition, when you add on costs it can be an expensive experience. Entering your rental property may be costly, to begin with. There are several expenses to pay before you start your new life in your home. So, don’t be caught off guard with sneaky expenses. Here’s a handy list of costs to expect when you’re renting:
- 2 weeks or 1 month’s advance rent
- If you have a bad credit history, you may need to pay extra
To find a rental property, the initial costs can be steep. If your finances are not feeling flexible, why not apply for a short-term personal loan to cover bond.
How to find rental properties that are right for you
Single and ready to rent, but need a running mate
Looking for your first apartment can do daunting and the majority of young singles cannot afford to live alone. So, if you’re young, single and ready to rent, start by looking for the ideal roommate. To find rental properties can be a long and gruelling project, however, before you begin the process you have to face the challenge of finding the perfect roommate. Furthermore, to help ease this process along here are some tips for finding the ideal roommate:
- Someone with excellent communication skills: Living together is a big change in an existing relationship. If your roommate is also your friend, it’s important to assess whether you can live with them. The idea of living with a friend may seem fun, however, it can be challenging if you don’t communicate well. Before popping the big question, see how you communicate in a social setting and ask yourself whether you can be honest with them when issues eventually arise at home. Find rental properties with someone who can communicate with ease.
- Someone who can adapt: When it comes to living with a stranger or a friend, you have to learn to adapt and live with someone who can adapt. We all have our funny quirks that may push other people’s buttons.
- Someone who is considerate: When you’re living in close quarters with another person, it’s important to remember all the decisions you make affect your roommate. Find someone who you know will be considerate of your space, and also the communal space. Before living together set a standard for how the communal spaces should be left after using them. Another good idea may be to set boundaries for private spaces.
- Someone who is consistent: Everyone wants the pleasure of feeling safe and supported at home. So, it’s important your roommate is consistent and will always be there for you when you need. To find rental properties, you must be committed to paying rent and utilities, but you must also be prepared to be someone your housemate looks forward to coming home to. No one likes bad vibes at home.
- Someone who is clean: Cleanliness is probably one of the most important aspects of finding the ideal roommate. This doesn’t mean you have to live with a clean freak! Just someone who wipes down benches packs the dishwasher and doesn’t leave all their clothes spread across the living room floor. Also, remember that your roommate’s room is their business, so don’t fret if it’s messy. Thank goodness for doors, right?
- Someone who is respectful: To live together, you must respect each other. You are both sharing the burden of rent and bills, so it’s important to trust and respect each other. Respect their time by not demanding you both eat together every single night. Respect their space by not intruding. And simply find someone who is courteous of your feelings and will listen to you.
- Someone who you feel comfortable with: Above all else, to live with someone, you must feel comfortable around them. If you meet a stranger and for whatever reason don’t think the roommate relationship would work, trust your instincts.
So, there you have it. The perfect recipe for finding the ideal roommate. Now onto to find rental properties!
Now, as much as we may love our friends, the idea of living with them has probably already triggered a migraine. That’s why there are services to help find a roommate that matches your requirements. Another option is to move into a share house with existing roommates. To help you decide here’s a handy list of apps to find solutions to all your roommate dilemmas:
- Flatmates – to find share houses or team up with friendly like-minded other to put a share house together
- EasyRoommate – Find your dream sharehouse in any major city in Australia
- Roomster – One of the most popular, global, apps to help you find a flatmate or get sorted in a share house
Whether you’re moving out for the first time or wanting to save some moolah on rent, finding a share house or flatmate has never been easier!
Couples looking for a love nest
If you’ve reached that happy stage in your relationship where you’re ready to take a big leap, this is for you. Moving in together is certainly that leap. Aside from tying the knot, moving in together is a huge gesture of commitment. Instead of a marriage licence, you now have a year’s lease tying you together. It’s an exciting, yet daunting time for a lot of couples.
To help alleviate some of the stress here’s are some handy, essential tips for moving in with your beau:
- Before moving, declutter, declutter, declutter: Before beginning your new life together, it’s helpful to declutter and get rid of some of the baggage from your past life. Get rid of any unwanted clothes (if you haven’t worn a dress in a year – stop telling yourself you’ll wear it again). Set up some criteria when you’re decluttering. Designate piles for keep, sell, donate and toss. Gumtree, eBay and Facebook Marketplace are prime platforms to sell old, but the functional items.
- A fresh start, or moving into a familiar ground: A question most couples have to ask themselves is whether to rent a new place or move into the other’s apartment. There is no right answer to this dilemma. It’s all about communication and figuring out what is best for the next stage in your relationship together.
- Practise making decisions together: Moving in together is the start of a new collection of fights and disagreements. No sugar coating here. So, it’s best to prepare by practising making decisions together. Decide where you both want to live, how you want to budget, what style of decor you want. There can be an overwhelming pile of decisions to make, so start with the easy ones. Like, Front Loader or Top Loader?
- Learn to discuss finances with your beau: Moving in together introduces a new variable into your relationship: money. Learning each other spending habits may come as a shock, so it’s important to get fully acquainted before you moved in together. To get started with finances, create a personal budget together. Decide how much rent you can afford and go from there. It’ll be hard to hide your 2-minute noodle dinners when you’re sharing a kitchen.
- Communication is key: Have you noticed a pattern in these tips? Yep, you guessed it, it’s communication. Communication is key to a successful renting experience with your boo. It’s important, to be honest with your new roomie about how you’re feeling and when you’re not comfortable with a decision.
Hunting for a family castle
With the second child on the way, you and your partner are thinking it’s probably time to move out of your 2 bedroom house. Moving with a family can be tricky, but, it’s important to find the right home for your growing family. To assist in the chaos of a screaming 2-year-old and one on the way, here’s a handy list of tips to help find rental properties:
- Choose your type: Ask yourself: what type of home to do you want? Are you looking for outdoor space or an optimal location for commuting? Know your priorities and what you’ll sacrifice, as the likelihood of one house ticking all your boxes is slim.
- Find the right Neighborhood: Location, location, location. Renting a home is all finding the right neighbourhood for your little ones to grow up in.
- Convenience: If your new rental property comes with a commute, decide whether it’s something you could live with permanently. It may seem fine before you start, however, 3 months in, you could find yourself grumpy at the 1-hour commute.
- Suitability: When you’re hunting for a new home; think about your future family. Ask yourself questions, like is the kitchen large enough? Are there enough bathrooms to accommodate future newcomers? When you need to find rental properties for the future, it’s important to know how long you plan to remain in one place.
Applying for a rental property
So, you’ve scanned the rental market and learnt how to find rental properties. You’ve found the perfect place that suits all your needs, and all you have to do is apply. Applying for rental properties can be overwhelming, but with systems like 1Form – an online application system, applying for a rental property can be stress-free. To ease the process along, here are some must-know tips when applying for a rental property:
- Provide as many financial details as possible: It all depends on what type of property you’re applying for, but any landlord or agency will look favourably on applicants with steady employment.
- If you own a pet, be a responsible pet owner: Pet approvals can be tricky, as the landlord may have had a bad experience with pets. So, if you’re applying for a pet in your rental application, include a cute photo and a pet reference.
- Complete your application correctly: If there’s a time to detail orientated, it’s when you’re completing your rental application. Before submitting your application, make sure you have filled in other criteria to the best of your ability. At the inspection, ask the realtor if there is any extra information they would like you to include in your application. This elevates some of the back and forth emails between you and the agency.
- Bring your whole party to inspect the property: When inspecting your dream rental property, bring along the whole gang. Everyone who will live at the property should be present at the inspection.
- Follow-up on your application if you haven’t heard anything in 48 hours: It’s important to follow-up on your application, especially if you haven’t heard anything in 48 hours. Let the agency know you love the property and are excited to move in.
Learning how to find rental properties can take years to perfect. Paying the initial costs of your rent can be expensive, especially if you need to finance your new home. That’s when quick personal loans can come in handy. That’s where WE come in handy. We are ready to match you with the right lender for your financial circumstances.
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