9 things all first time renters need to know before they rent

For those who are about to move out of home for the first time, it can be an exhilarating, and stressful experience. You are leaving the safety net of home and stepping completely out into the world, gaining all the freedoms, and responsibilities that come with that. Either way you look at it, this moment is a big deal.

So, how can you make sure it goes smoothly, and you have a great first renting experience? Well, there are a lot of things to consider, but we are going to focus on 9 important things about the renting process that first time renters must know.  

1. How rental leases work

Your lease is a legally binding agreement, and so, should not be taken lightly. This isn’t like an app’s terms and conditions, which you just tick agree without reading the contents. The lease defines a lot about your tenancy, including how long you will rent the property for, the rent you will pay, your responsibilities as a tenant, and more.

After you have signed, you are bound to the terms set out in the document for the period of the agreement. So, if you breach anything in your lease conditions your landlord will be able to issue notices, and potentially evict you. It is vital that you read all of your lease multiple times over before signing, so that you know what you are agreeing to.  

2. What their tenant rights are

There are a series of rights that, as a tenant, you are entitled to. These include the right to privacy, protections regarding the cost of repairs, and more. Under these rights, for example, the landlord cannot just show up at the property unannounced, instead, they are required to provide a certain period of notice. As well as this, they must follow certain processes before they can evict you, providing you with time to remedy the breach.

Each state has its own unique laws. You can find the laws for Queensland here.

3. What a bond is

Your Bond is going to be one of your big upfront expenditures when you move to your new home. Generally, the bond will be 4 weeks’ worth of rent. This money is used as financial security should you damage the property, breach your lease, or if repairs and cleaning are required after you leave.

For some, the bond can be a lot of money, especially if you need to buy furniture for your first home. Fortunately, you can get a bond loan. This is a small loan that you can pay back quickly.

4. How they can pay the rent

Your tenancy agreement will tell you how you can pay your rent. Within the document is the way you will pay the rent, how much it will be, and when it will need to be paid. Generally, your rent will either be paid through Eftpos, credit card, direct debit, or in rare cases, cash.

5. Where you stand on repairs and maintenance

Rights and responsibilities around maintenance and repairs can be complicated. We have an article detailing that here. Essentially, your Landlord is responsible for maintenance and repairs, except in cases where a part of the property is damaged by your fault.

When it comes to your own personal possessions, it is vital that you have contents insurance. This will ensure that if anything happens to your personal possessions, they are covered. Your personal possessions are not your landlord’s responsibility.

6. The importance of the property condition report

The property condition report is an important document that records any damage, and the condition of the property when you move in. Your property manager or landlord will provide you with this document at the start of your tenancy.

It is vital that you go through this document as soon as possible. You could be liable for damage spotted upon ending the tenancy, that was not listed on the entry condition report. If you see any damage when you move in, and it is not listed on the entry condition report, take a note.

7. When they can negotiate on rent

Sometimes it is a good idea to negotiate. While the amount you pay in rent isn’t always up for negotiation, there are times when you can ask. If there is a really great property that is perfect for you but pushes above your budget, try asking if there is room to negotiate the rent. On some properties, there may be less competition, so asking for a lower rent could work in your favour.

8. What not to do without permission

There are many changes that you cannot do without permission. The exact list will vary from state to state and also across different tenancy agreements. Generally, this may include things such as painting walls, hanging up photo frames, changing faucets, and more. Another thing you should not do without permission is keep pets. This could result in your eviction if the owner is against tenants having pets.

9. How to find the right home

When looking for your new home ensure that you have a checklist of amenities and utilities that are a must have, are a nice to have, and are a deal breaker. It is important to know what you are looking for to avoid making a decision on a home that isn’t right for you. As well as this, it is important to focus on the amenities and utilities of a home over the aesthetic appeal. While some may look more modern, or be more classical, if it doesn’t tick your must haves then it won’t be right for you.  

Conclusion

Getting your first rental property is an exciting experience. By following the above tips you can ensure that the rest of your tenancy will also be enjoyable. Whether you are moving out of home alone or with friends, being prepared is the best thing you can do.

If you need further advice surrounding your rental home, check out our other articles here.