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Renting in Sydney
Renting an apartment can be difficult, especially after looking through pages and pages of real estate websites. Here are some tips on how to secure your perfect apartment rental in Sydney.
Make a Good Impression
Although it may sound obvious, it will really help to make a good impression at the inspection to increase your chances of securing the apartment. Often enough, you will be facing multiple competitors for a single property and securing it could mean paying a slight premium to gain an edge over your competitors. It is handy, however, to always ask how many people you are competing against for the apartment. Negotiating for a lower price is often possible when there aren’t too many people competing and you are ready to move in and secure the deal as soon as possible.
On a successful application, you will usually need to secure the lease fulfilling the security bond. This is often equal to month’s rent. (Please note that one month’s rent is not equal to 4 times the weekly rent posted. You can find more about how your rent in Sydney will be calculated here.) The security bond, or deposit as it would be called in the States, covers damages that may occur during your stay. Always ensure that the landlord is credible or use a real estate agent. The bond is always refundable and will be refunded upon termination of the contract. The full bond is returned when the apartment is returned to them in the condition that you moved in.
Signing the Lease
When the bond has been handed over, the next step is signing a lease which sometimes also involves paying the first month’s rent. This will vary between landlords and real estate agents; however it is usually between 4 weeks’ worth of rent.
Long term leases often face the risk of increased rent at the end of the lease, this will occur time-to-time and the landlord or real estate agent will need to inform you before increasing the rent, often a few weeks in advance. Long term contracts often have a better weekly rate; however you are bound to the contract for upwards of 12 months.
As a tenant, you are obliged to keep the property clean and tidy. The landlord or real estate agent may conduct an inspection to ensure there is no damage to the property; however they should provide 7 days written notice before coming to visit.
Most, if not all, damages will be repaired by the landlord or real estate agent’s preferred contractors, so if anything goes wrong contact your landlord or real estate agent immediately. This includes water leaks, gas leaks and other hazardous scenarios.
Sometimes, it may be possible to organise your own repairs and be reimbursed, however it is to the discretion of your landlord.
Termination of the contract will also require written notice even if your contract is due to end at a certain date. This will allow the landlord or real estate agent to know that you will not be extending your contract and they should look for new tenants to move into the property.
There are many things to consider when looking for the perfect apartment.
In Sydney there are many forms of transport, such as buses, trains, ferries and more. It is important to find the ideal balance between price and location as well as access to public transport so that your commute to work is convenient.
Always shop around for a good deal as in Sydney, there is an abundance of properties to look for and each location has its own perks.
For more info on rents in Sydney be sure to check out SMG’s article that breaksdown rents in Sydney by Suburb.
Other articles you need to check out are “This One Tip Will Help You Find an Apartment in Sydney Faster”, SMG’s Sydney Suburbs Guide as well as a list of suburbs to consider for your first apartment.
This article is a contribution from: Realestateview(dot)com(dot)au was founded in 2001 and is one of Australia’s leading real estate portals. Their aim is to help you find your dream home by listing thousands of rental properties and homes for sale. They offer several tools like free property alerts, latest sales and auction results, property reports with up-to-date median prices, historical sales results and general suburb profile data to help you plan and conduct market research throughout Australia. For more information visit: http://www.realestateview.com.au.
Disclosure of Material Connection: This is a “sponsored post.” The company who sponsored it compensated me via a cash payment, gift, or something else of value. Regardless, I only recommend products or services I use personally and believe will be good for my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”