Renting Guide: How to Find a Rental Property

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    Finding a rental property in today’s market can be both exciting and daunting. Whether you’re looking for a house or an apartment, plenty of options are available, but knowing how to search effectively and what to look for can make all the difference.

    This guide will walk you through the key steps to finding the perfect rental property and ensure you’re prepared.

    Let’s get straight to the point

    Finding a rental property requires a combination of online searching, inspections, and submitting a strong application. Use real estate websites and apps to browse available houses or apartments, filtering by price, location, and features.

    During inspections, check for parking, maintenance issues, and appliances. Choose between a house or apartment based on your budget and lifestyle needs.

    To improve your chances, submit a complete rental application with proof of income, rental history, and references. Always compare rental prices to ensure you’re getting a fair deal, and consider hiring a rental agent if needed.

    How to Find a Rental Property Online

    Search for Rentals Using Online Tools

    Searching online is the most common and convenient way to locate an available rental property. Websites like Domain and realestate.com.au allow you to browse listings from various real estate agencies, enabling you to filter by price, suburb, and property type (such as house, apartment, or townhouse).

    You can also narrow down your search by specifying the number of bedrooms, bathrooms, parking spaces, and specific features like “balcony,” “garden,” or “pet-friendly.”

    Using Mobile Apps to Simplify Your Search

    Many real estate websites also have mobile apps that make browsing and applying for properties on the go easier. These apps offer advanced search filters and allow you to save favourite listings, receive notifications when new properties become available, and even contact agents directly to schedule property inspections.

    Contacting Real Estate Agents

    Once you find a rental property you’re interested in, you can contact the real estate agent managing the listing. Agents will help you organise an inspection and answer any questions you might have about the property.

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    Choosing Between a House or an Apartment

    Should You Rent a House or an Apartment?

    When searching for a rental property, one of the first decisions you’ll need to make is between a house and an apartment. Both options have advantages and disadvantages.

    Houses generally offer more indoor and outdoor space, making them ideal for families or those who value privacy. However, they often come with higher rent, more maintenance, and increased utility costs, especially heating and cooling.

    On the other hand, apartments are often more affordable and come with additional perks like access to gyms, pools, and on-site management. Apartments are usually considered safer, with better security systems, though they may lack privacy and have smaller living spaces.

    Consider Your Budget and Lifestyle

    If budget is a primary concern, renting an apartment might be a more affordable option, especially in popular suburbs. Apartments also tend to have fewer maintenance responsibilities.

    If having a backyard or large outdoor space is important to you, a house might be the better choice, but bear in mind you’ll likely be responsible for garden maintenance.

    How to Inspect a Rental Property

    Preparing for the Inspection

    Before applying for a rental, it is crucial to inspect the property in person. Most properties have scheduled inspection times, which are typically advertised on the real estate listing.

    If the listed times don’t suit you, contact the property manager to request a private inspection.

    What to Look for During an Inspection

    When inspecting a rental property, it’s important to keep an eye on key details:

    • Parking: Is there sufficient parking space or a secure garage? Is it included in the rental agreement?
    • Heating and Cooling: Does the property have effective air conditioning or heating? Is it gas or electric?
    • Natural Light: What is the property’s orientation, and how much natural light does it get during the day?
    • Appliances and Storage: Are the kitchen appliances in good condition, and is there enough storage space?
    • Bathroom: Are the bathrooms well-maintained? Does the property have a bath or just a shower?
    • Outdoor Area: If applicable, is there a balcony or garden, and who is responsible for maintaining the outdoor spaces?

    Check for Maintenance Issues

    During your inspection, look for signs of neglect or maintenance issues. If the property requires repairs, ask the real estate agent if these will be addressed before you move in.

    How to Apply for a Rental Property

    Once you’ve found a rental property you like, it’s time to apply. Ensure your application is complete, as real estate agents prioritise fully documented applications.

    Provide as much detail as possible, including proof of income (such as payslips or bank statements) and rental history.

    What Do Real Estate Agents Look For?

    Property managers typically look for several key elements in a rental application:

    • Identification: Make sure your application includes valid identification.
    • Rental History: Provide a rental ledger if you’ve rented before, which shows you’ve paid rent on time.
    • Employment Details: Show evidence of stable employment or sufficient income to cover the rent.
    • References: Include references from previous landlords or employers to strengthen your application.

    How to Know If a Rental Property Is Good Value

    Evaluating Market Rent

    Research current rental prices in the area to determine whether a rental property offers good value. Online tools like the Domain Home Price Guide can provide insights into a property’s rental history, helping you understand if the current price is fair.

    If rent has increased significantly in a short time without improvements to the property, it may be overpriced.

    Understanding Rental Increases

    It’s also important to understand your rights regarding rent increases. In Australia, rent increases must be reasonable, and landlords must give you adequate notice before raising the rent.

    Should You Hire a Rental Agent?

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    While not common in Australia, hiring a rental agent can be helpful if you’re relocating from another city or struggling to find time to search for a rental property. A rental agent can search for properties on your behalf and help you through the application process.

    Conclusion

    Finding a rental property requires careful planning, thorough research, and attention to detail. By using online search tools, considering your budget and lifestyle needs, and following the right inspection and application processes, you can find the perfect place to call home.

    Whether you choose a house or an apartment, always ensure you’re getting a good deal by evaluating the market and being prepared with a strong application.

    FAQs

    What Is The First Step To Finding A Rental Property?

    Start by determining your budget, preferred location, and must-have features to narrow down your options and streamline the search process.

    How Can I Find Rental Properties In My Desired Area?

    Use online property listing websites, work with real estate agents, check local classifieds, and explore social media or community boards for opportunities.

    What Should I Consider When Inspecting A Rental Property?

    Look for signs of maintenance issues, check for safety features, assess the neighborhood, and ensure the property meets your lifestyle needs.

    What Documents Are Typically Required For A Rental Application?

    Rental applications usually require proof of income, ID, references, and possibly a rental history or credit check, depending on the landlord.

    How Can I Negotiate Terms With A Landlord?

    Be prepared with research on local rental rates, present yourself as a reliable tenant, and be clear about specific requests like lease duration or pet policies.

    Brendan Thorp is a Director and Business Advisory Specialist at Bookkept, bringing eight years of dedicated experience in tax and small business advisory. As a Certified Practising Accountant and registered Tax Agent, he specialises in helping businesses optimise their operations through strategic financial solutions and digital transformation. Brendan holds dual qualifications from the University of Newcastle in Commerce and Business, and is known for his ability to translate complex tax regulations into actionable business strategies. When he's not advising clients across various industries from hospitality to healthcare, you'll find him actively engaged in community leadership through local sporting clubs and professional associations.

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