Last Updated:
Saturday, 26. July 2008

Long Term Un-Furnished Rental Property in Australia

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NEWS:

22nd May 2008

Melbourne CBD Rental vacancies drop to critically low level

Real Estate Institute of Victoria CEO Enzo Raimondo said today that the April REIV rental report revealed the vacancy rate for residential properties within 4km of the Melbourne CBD has dropped to an all time low of 0.3 per cent.

"The report highlights what many prospective tenants already know, that it is virtually impossible to find a residential property to lease in the inner city.

More... www.reiv.com.au

 

Long Term Unfurnished Rental Properties are normally available for longer stays of 6 months upwards, although sometimes a 1 year tenancy is required.  These are cheaper than the Furnished rentals but do require that longer commitment.

Many Real Estate Agents will have a list of currently available properties on their books, but you can also look online at a couple of National databases of properties being advertised for rent.

Most Rentals will have cooking facilities built in, and some of the newer ones have dishwashers, but this is not fully standard.  Rarely will you get one with a washing machine.

Tenants are normally only responsible for the following costs:

  • Initial Rental Bond, Rent, Electricity & Gas (if applicable), Water usage excess charges, Telephone charges, Personal Contents Insurance and any damage to the property cause by the Tenant or Tenants guests.

The Landlord normally pays:

  • Council rates, Water Access Costs, Property repairs, Property Insurance

The following costs can be paid by either, depending on the agreement:

  • Swimming Pool Maintenance, Garden Upkeep, mowing etc., Pest Control.

 

Rental Bonds

You will generally need to put down a rental bond, equivalent to about 4 (or more) weeks rent, which the landlord deposits with a Rental Bond Agency in the State that the property is in.  Check with each State on this, as QLD for example states: By law, no more than four week's rent (two weeks' rent for moveable dwellings) can be charged as a rental bond, if the weekly rent is $500 or less. There is no limit if the weekly rent exceeds $500.

Rental Bond Info: NSW - QLD - VIC - SA -

The Bond is a guarantee to the landlord against any unpaid costs that the tenants may still owe when they vacate the property. It is returnable to the Tenant when they move out from the property. The amount returned will depend on the condition of the property when handed back to the landlord.

Rental Property Advertising Links

  • RealEstate.com.au  One of the major databases of property both for Sale and Rent. Many of the Real Estate agents advertise there properties on here.
  • Domain.com.au  Another similar to the above, but operated by the Fairfax Newspaper Group

 

Renting in Queensland

A guide issued by the Queensland Government RTA (Residential Tenancies Authority), shows the rights and responsibilities that are covered by the law for both the tenant and the lessor/agent.

Information Statement - Renting a home - A tenant's guide to the rules for renting in Queensland -

    PDF File 1.2mb    http://www.rta.qld.gov.au/zone_files/eforms/17a-final.pdf

An excerpt from this guide is shown here:

When you start a tenancy, you will need to:

  • read and sign a written General Tenancy Agreement (Form 18a) including the standard terms
  • get a signed copy of your tenancy agreement
  • get a copy of this booklet (the lessor/agent is required by law to give this to you)
  • pay a bond (if required) and complete a Bond Lodgement (Form 2)
  • pay rent in advance (if required)
  • get receipts for any monies you pay
  • get one full set of keys for one of the tenants named on the agreement, and entry keys for the other tenants named on the agreement
    receive 2 signed and completed copies of the Entry Condition Report (Form 1a) from the lessor/agent
  • complete the “tenant” sections of the Entry Condition Report (Form 1a), mark both copies if you disagree, record the water meter reading on the form, sign both copies and return one copy to the lessor/ agent within 3 days from when you’re allowed to move in, and
  • keep copies of all these documents in a safe place – they are important documents that may help if there is a dispute over your bond.

 

Tenants Rights Information (a selection of options)

 

Links

 

 

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