Finding an affordable rental space in Australia can be a daunting task, especially for those on a tight budget. However, with some careful planning and preparation, you can secure a rental space that meets your needs and budget.
In this article, we will explore some tips to help you find and secure a rental room in Australia, including information on rental bonds.
The Market
The rental market in Australia continues to be competitive, with many people searching for affordable rental rooms. Data from Rent.com.au pointed out the national median rent for a room in a shared house was $235 per week, an increase of 3.8 per cent compared.
In some cities, such as Sydney and Melbourne, the rental market is particularly tight, with high demand and limited supply driving up rental prices. In Sydney, the median rent for a room in a shared house remained constant at 300 dollars. The median rent for a room in a shared Melbournian house was $212 per week, up 5.6 per cent.
However, there are still affordable rental room options available in many areas of Australia. In regional areas, rental prices for rooms in shared houses may be significantly lower than in major cities or have suddenly spiked. For example, in Adelaide, the median rent for a room in a shared house was $183 per week, but still significantly lower than the median rent in Sydney and Melbourne. Hobart meanwhile, posted the largest month-on-month increase at 6.9 per cent to $215.
Tips to Secure an Affordable Rental Space
Securing an affordable rental space can be challenging, but here are some tips to help you find one. By following these tips and being diligent in your search, you can increase your chances of finding an affordable rental space that meets your needs and budget.
Start your search early
The earlier you start your search for a rental room, the better your chances of finding an affordable space that meets your needs. Start your search at least two months in advance, as it may take some time to find a suitable rental room and go through the application process.
Set a budget
Before you start your search, set a budget that you can afford. Consider your income, expenditures, and any additional financial commitments you may have. Doing so will assist you in refining your search and prevent you from spending time viewing rental accommodations that exceed your budget.
Consider your needs
Think about what you need in a rental room, such as the size of the room, location, and amenities. Consider the proximity to public transportation, grocery stores, and other essential services. Be realistic about your needs and make a list of non-negotiables to help you narrow down your search.
Do your research
Use online rental platforms to search for rental rooms that meet your needs and budget. Check the reviews of the properties and the landlords to ensure you are dealing with a reputable landlord. Contact the landlord or property manager to ask any questions you may have and to arrange a viewing of the property.
Prepare your rental application
When you find a rental room that meets your needs, prepare your rental application. This will typically include personal information, employment information, and references. Make sure you have all the necessary documentation ready, such as identification, proof of income, and rental history.
Paying the rental bond
In Australia, landlords may require tenants to pay a rental bond, which is a security deposit that covers any damages or unpaid rent at the end of the lease. The rental bond is typically equal to four weeks’ rent. If you are unable to pay the rental bond upfront, you may be able to arrange a payment plan with the landlord.
Move in
Once your rental application has been approved, it’s time to move in. Take note of any existing damages in the rental room and report them to the landlord to avoid being held responsible for them. Make sure you understand your rights and responsibilities as a tenant, such as paying rent on time, keeping the property clean, and adhering to any rules and regulations set out by the landlord.
Conclusion
Finding an affordable rental room in Australia requires careful planning and preparation. Start your search early, set a budget, consider your needs, do your research, prepare your rental application, and understand your rights and responsibilities as a tenant. If you are required to pay a rental bond, ensure you have the funds available or arrange a payment plan with the landlord. With these tips, you can find and secure a rental room that meets your needs and budget.
DISCLAIMER: This article is for information purposes only. QUICKLE has no business relationships with any industry resource mentioned in the article.
