Renting a property can be daunting, but with strategic planning and technology, you can become a savvy tenant and confidently make your rental experience memorable for all the right reasons.
1. Be clear on your budget
According to Jaime Pratt, Head of PM at VPM, knowing your budget is crucial. “It’s so important as a first step to establish a realistic budget to make sure that your rent doesn’t exceed 30% of your monthly income after taking into account other expenses like utilities, fuel and parking fees,” she says. “This will help fine-tune your search to rentals that fit within your financial limitations.”
2. Start your search early
Once you have a clear idea of your budget, start your rental search as soon as you know you may need to move and make sure all the necessary documents, such as ID, proof of income, rental history, and references, are ready to go. “Being proactive and organised will give you an edge over other potential tenants and show landlords that you are a reliable candidate,” Jaime advises.
3. Know what you’re willing to compromise
You can then clarify what you’re willing to compromise by creating a list for your ideal rental that includes must-have features and personal preferences to suit your family and lifestyle. Jaime suggests considering things like location, proximity to work, school and local amenities, safety, and the number of bedrooms and bathrooms you might need. Having this clarity will save you time and energy during your search.
4. Be productive online
Make sure you use all the online resources available to help you explore the various rental options and regions in which you want to live. Websites and apps like domain.com.au, rent.com.au, realestate.com.au, and homely.com.au offer comprehensive listings with intricate filters to streamline your search and make finding suitable rentals much easier.
5. See the home for yourself
Jaime often advises clients to attend open homes or schedule a private viewing of a home wherever possible, as this is the best way to get a feel for the location and the property to see if it will be suitable. “Photos can be deceiving,” she says, “viewing the property allows you to assess its condition and potential issues it might have. Don’t hesitate to ask questions during your visit either.”
6. Be willing to negotiate
Rental terms provide a guideline as to what the landlord has agreed to. This doesn’t mean you can’t negotiate them. Landlords may adjust the rent, lease duration, or allow pets if you ask. Polite and respectful negotiation can often lead to a win-win situation for both parties.
7. Insure yourself as a tenant
Jaime suggests to all her tenants to get renters insurance for added protection. “While not always mandatory, it provides peace of mind and covers your belongings in case of theft, damage, or other unforeseen events,” she says.
8. Understand the small print
Contracts can be tricky to understand at the best of times. Be sure you thoroughly read the lease before signing it and understand and agree with all the terms and conditions. Seek legal advice if necessary, especially for complex lease agreements.
9. Don’t be scammed
Unfortunately, there have been incidences where people have been scammed online when they thought they were putting a deposit down for a rental property. Rental scams and identity theft exist. Jaime advises verifying the property’s legitimacy and the landlord’s identity BEFORE making any payments or providing personal information.
10. Don’t sweat the small stuff
Finding the perfect rental can take time, so be patient and willing to compromise on some aspects during your search while ensuring your fundamental requirements are met.
Smart renting involves careful planning, thorough research, and proactive behaviour. Our friendly team at VPM are experienced and ready with a wealth of advice to help you find and secure the best rental to suit your needs. We aim to ensure a positive renting experience through a responsible tenancy and effective communication. Contact us for obligation-free assistance if you’re searching for a rental home.