Your guide to renting a property in Melbourne.
Renting in Melbourne can be time consuming and very competitive – so here are a few key steps in the rental process you need to be familiar with before you start your rental property search.
Inspecting the Property
Step one in securing a rental property is inspecting it. Real Estate agents in Melbourne will not process your application until you (or we!) inspect the property. This is to ensure that you actually like the property prior to them doing all the work involved in checking your references and putting you forward to the owner.
You can inspect a rental property by either attending on the set inspection times advertised online or schedule a private viewing with the agent directly. At Rental Inspect, we try to inspect the property privately with the agent where possible. This means that we avoid the competitive scheduled inspections and there’s less chance of you competing with other applicants for the property.
Applying for a Rental Property
If you like the property when you inspect it, be ready to act quick. The best way to apply is by using 1Form (www.1form.com.au), the online rental application form. You can submit all of your details and ID and then use this online form to apply for any properties that interest you.
Make sure that all of your ID is attached and clearly visible and that any references are aware that someone will be contacting them.
The easier you make it for the Property Manager to check your application, the better chance you have of being approved for the property.
Signing the Lease Agreement
Once you’ve been approved for the property, you’ll be required to sign the Lease Agreement. This is a contract between you and the owner which details the length of your rental agreement, the rental amount you have to pay and the expectations the terms to which you will live in the property.
Make sure you read this agreement and if you have any questions, don’t be hesitant to raise them with the agent.
Paying Rent & Bond
Upon signing the lease, the agent will require you to pay the first months rent and bond. This along with the signed Lease Agreement will secure the property for you.
The first months rent will be paid to the agency and will cover the first month of your tenancy.
The bond payment will be collected by the Real Estate agent and then processed with the Residential Tenancies Bond Authority (RTBA). Make sure that your complete the Bond Lodgement form so that your money can be help by the RTBA. This money is then safely held until you decide to move out of the property. Provided that all rent is paid and there is no damage the property, then you can expect to get this money back once you move out.
Connecting your Utilities
Once the lease is signed and payments have been made, it’s time to get ready to move into the property. Check with the agents what utilities you need connected – this is usually water, gas and electricity and then if you want any additional services like Internet, Pay TV and home phone then you will need to set these up too. Your agent should be able to recommend some providers to you otherwise there are plenty of comparison websites online to help you get the best deals.
Completing the Ingoing Condition Report
This is one of the steps overlooked by many tenants when renting a property – and one that can be costly when you move out.
An Ingoing Condition Report is provided to each tenant once they move into the property which details the overall condition of the property and any damage when the tenancy begins. This is the reference point for the condition of the property when the tenants move out.
As the tenant, it’s your responsibly to make sure this report is accurate and that any damage missed by the agent is added to the report. This will protect you from being blamed for any pre-existing damage when you eventually move out of the property.
We recommend making notes and taking additional photos when completing the report.