Accommodation

Note: The information here is to provide you basic awareness and context on accommodation in Australia. If you require specific information or advice, we recommend that you contact a qualified real estate, property or relocation services professional.

How to Find Accommodation

You can rent a house or apartment through real estate agents that act on behalf of landlords or you can rent directly from a private landlord. Rental properties are advertised in newspapers especially on Wednesdays and Saturdays in the ‘To let’ and ‘Accommodation vacant’ sections.

Typical Rental Agreement Clauses

In Australia, it is typical to have a written contract made between a tenant and a landlord ('lease' or a 'residential tenancy agreement'). The agreements are usually for a fixed period of 6 or 12 months. You are entitled to negotiate the period of the lease with a landlord or the agent before you sign.

At the start of a tenancy you will generally be asked to pay 2 weeks' rent in advance as well as a rental bond equal to 4 weeks' rental. A bond is a deposit paid to a government agency that holds the bond in trust. The amount is usually not more than 4 weeks' rental. The landlord or estate agent must lodge your bond with the Residential Tenancies Bond Authority.

You get the bond amount back when you leave a rented house or flat provided you do not owe any rent and the property is not damaged. The damage assessment is done according to the ‘condition report’, which is a record of the condition of the property and is completed by you and the landlord or agent. The condition report helps to avoid disagreements as it records any damage that was already there when you moved into the property.

Tips When Looking for and Finalising Accommodation

• It is recommended that you do not agree to a lease that is longer than your intended stay, because there can be costs involved if you break a lease before the end of the agreed period.
• Do not sign a lease unless you have inspected the property and fully understand the terms and conditions in the document, as it becomes legally binding after you sign it.
• Most rental properties are let unfurnished (gas / electric cooking range and an oven are provided in most cases) so you will need to lease or buy a furniture package if you are not bringing your furniture with you. Specialist leasing agents can arrange this on your behalf.

Steps to Take Once You Have Chosen the Property

You will need to file an application to lease the chosen property. You will usually be asked to fill in a Tenancy Application Form. The form should include a privacy statement so you know how your personal information will be used. When inspecting properties, it is a good idea to bring along reference details and identification in case you would like to fill in a Tenancy Application Form on the day.

Alternatively, you may be able to use 1 form - a free online tenancy application system for both property managers and tenants. With this form, you can enter your information only once and apply for many different properties. You can also submit an application before you have inspected the property (even while you are overseas.)

Documentation that You Need When Leasing Property

The type of information you will need for your application is a driver's licence, passport number, business reference, employer reference, personal reference, rental and/or sales reference. In most cases you will need to provide contact telephone numbers and names of the relevant people.

For more information, refer to:

http://www.rentaustralia.com/
http://www.realestate.com.au/.

Mortgage

For a typical 4-bed house with a backyard and a pool, the mortgage could be AUD400,000 (about the Australian average).

At 7.50% interest on a 25-years repayment basis, repayments would work out to AUD2216 per month, or AUD511 per week.