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My partner and I are looking to rent together for the first time. However I don't know where to start. I'm having trouble determining an area, don't know what to expect regarding the process and don't know how early to start looking?
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Thank you Emma for your question, it’s an exciting time for you both.
There are a lot of factors to consider when you decide to rent with someone else for the first time. The questions you raised are a great starting point so it’s important for you both to have an open and honest discussion with each other in regards to:
• if you rent together and are both on the lease then you are both responsible for the rent you pay and terms of the lease. If either party fails to meet their individual obligations then the other party will still be responsible.
• what is your individual and combined budget for rent, utilities, and living expenses?
• if you both work, how do you get to work and how important is it to be close to public transport work?
• how close do you want or need to be to family, friends, work or other activities or commitments?
• what type of property would you like to live in, what space do you individually need?
Once you go through these questions together you will be able to determine how much rent you can pay and the type of property you’d like to rent. This will then determine the areas in which you can start looking.
You can use websites such as www.realestate.com.au or www.domain.com.au to search for properties to rent. They will give you an idea of the type and quality of properties that fit within your budget.
Each rental property is more than likely managed by a real estate agent so if you see a property you like you can contact the agent to ask questions and request to see the property. When you start looking for properties and speaking to agents you’ll start to get an understanding of how quick you need to move and make decisions. Some properties get snapped up by tenants pretty quickly but each property is different so it is best to speak to individual agents.
To secure a property you will need to make an application with the agent/landlord and you’ll be required to submit a range of information so they can get to know you more and make an informed decision on whether to accept your application or not. The information may include one or two references so it is best to ask some of the local agents and start preparing for what they need.
On acceptance of your application, you will be asked to pay a rental bond (normally equivalent to 2-4 weeks rent) and probably 2 weeks rent in advance. Again, you need to ensure you have the budget to meet these requirements.
It is an exciting time for you both, but finding a place to place can be a little frustrating. We’d suggest you establish your budget, don’t put too much pressure on yourselves in terms of timing and make some appointments to meet with a few agents of where you believe you can afford to rent.
It might be an idea to make contact with a business like Renterscard - https://www.simplyaskit.com.au/profile/1432/renterscard. From what we understand their business is about making the process of finding a property to rent a little easier
Always remember to ask a lot of questions. The more questions you ask the more you’ll understand the process and what’s required.
All the best and we hope this information helps.
simplyaskit