Do you know what’s the first thing that people relocating to a new place think about? Yes, you guessed it. Finding the perfect rental property to call home. Most people relocating with a family may prefer to lease property rather than rent.
So, are you looking to lease property in the Australian suburbs? Whether you’re a first-time renter or a seasoned pro, finding the perfect property in areas such as Epping, Craigieburn, and Wollert can be daunting.
You may be wondering where to start in the first place. But don’t worry. Here’s a guide that can help you find the best property for lease. From determining your budget to identifying the right location and amenities, this comprehensive guide will walk you through the key steps to make your search easier and more efficient. So, let’s get started and find your dream rental property together!
How Do Property Leases Work in Australia?
First, understand the difference between leasing and renting.
Before you move into a rental property, your landlord will request you to sign a lease agreement. But what is that for?
A lease agreement is a contract that grants permission to use an asset owned by the landlord for a particular period under certain conditions.
The notable difference between leasing and renting is the length of the contract. Leasing is applied to a longer period, say 6 or 12 months. Whereas renting a property covers only a short-term period of 30 days or a bit more.
Property leases in Australia
In Australia, contracts for a fixed period are the most familiar type of property lease agreement.
As mentioned above, leases are for periods of six or twelve months. But there are leases available for shorter periods. But this depends on the landlord’s flexibility.
In leasing, landlords will collect a security deposit or bond from the tenant at the start of the lease. The amount collected is equivalent to four or six weeks’ rent, and it acts as a buffer for the landlord if the tenant cuts out to acknowledge lease terms.
However, if the property is in good order when the tenant vacates it, they will receive the security deposit back.
How do the lease payments work?
If you lease a property, you will pay the rent at fixed intervals through different channels. Either directly to the landlord, property manager, or real estate agent, basically to the property in charge.
What’s the advantage of leasing a property?
When you lease property, you create stability in housing for a longer period of time. And the landlords can’t increase the rent until the lease has been terminated.
Guide to Find the Best Property for Lease
Before you lease property in Epping or any location of your choice, take a pen and paper to finalize things such as budget, number of rooms, amenities, lease period, etc. Because only when you know your requirements can you search for the best property for lease with a clear lens.
Also, read why location is important in finding the right house for rent.
Checklist to consider before you start searching for the best property for lease.
What’s the budget you’ve allocated for this?
Before you start hunting for the property for rent in Craigieburn, fix a budget. This allows you to cut down your search to look at properties that fit your budget.
What are your property’s lease requirements?
Next to your budget, you must know your requirements to choose the best property for lease. Because though finding a roof over your head is a deal, you also ensure it fits your needs.
So, take the size of the property, amenities, and accessibility into consideration.
Research online seamlessly.
This digital era has made everything accessible via the internet. So put on your detective glasses and find out about the properties available online. Check different real estate websites, online listings, and even social media to find a property for lease in your prefered location.
Visit the properties.
Some landlords may have a digital tour of their property. So you can see them from your house and get an idea of how they look. However, it is essential to visit it in person. So, once you have a list of potential properties, schedule visits to each one. This will help you get a better idea of the property’s condition, location, and overall suitability for your needs.
How do I find out if a rental property is worth it?
The factors that determine if a rental property is a good value or not are:
Is the rental price reasonable?
The rental price is fixed based on the location, demand, and amenities the house or apartment comes with. However, the rental price must be reasonable. To confirm the same, compare the prices with similar properties in that area and check the local market rental prices.
What is the condition of the house?
As a renter, it is highly recommended to do a property inspection. In most cases, the property manager or real estate agent in charge will contact the potential renters to check out the property. You may get 20 to 30 minutes for inspections. But some real estate agents will do a private walkthrough of a rental property at a time convenient for the renters.
It is time to check if the leased property is in good shape. If the house isn’t maintained properly, for instance, and you can see visible cracks or leaks, it will cause trouble. What if the repair costs fall on your shoulders?
Is the landlord or property management polite and responsible?
Yes, this is also an important factor to consider because if the landlord is arrogant, you will be bound to encounter more issues when you move in.
So, look for a landlord who is responsive to maintenance requests, communicates effectively, and is easy to work with.
Does the property for lease come with your desired amenities?
Consider the property’s amenities, such as parking, laundry facilities, or a pool. These can add value to the property and make it more attractive to renters.
Consider these factors to determine if the rental property for lease has a good value. Besides this, it is your job to do research, ask questions, and closely examine the lease agreement before signing it.
Which one should you lease—a house or an apartment?
Choosing a house or an apartment when you look for property for rent in Wollert is subjective. But if you want to weigh the pros and cons of choosing either, consider the below-given points.
Cost: Since the square footage of a home is higher than an apartment, the monthly rent for a house is a bit pricey.
Space: If you have to house a large family, an apartment won’t work. Here, a house will have more square footage and more rooms.
Location: Finding an individual property for lease in an Australian city is not a cup of tea. But apartments are often located in urban areas.
Privacy: Make up your mind that you can’t expect privacy in apartments.
Amenities: While you can enjoy the on-site amenities, such as a pool and fitness centre, in an apartment, you may have issues dealing with limited parking space and a house’s lack of outdoor space.
Flexibility: Apartments come with shorter lease terms, and hence you get the ability to move out more easily. Houses have longer lease terms, and moving out may be more difficult before the lease term is up.
Whether you choose an apartment or a house, be clear with your wants and preferences to make an informed decision.
Make an offer
If you find a property for rent in Epping, Wollert, or Craigieburn, it’s time to submit an offer to the landlord. Making an offer on a rental property means you are bidding to rent the property from the landlord. The offer should include information such as the rent amount you are willing to pay, lease term length, and other terms or conditions you want. For instance, if you want your pet to live with you or make parking arrangements.
Once you have submitted your offer, the landlord will review it and decide whether or not to accept it. If the landlord accepts your offer, you can sign the lease agreement and move into the property.
The landlord may or may not accept your initial offer. So be prepared to negotiate with the landlord to reach an agreement that works for both parties.
Brownie tip: To increase your chances of accepting the offer, try attaching your rental history. If you have paid your rent on time in the past and have taken good care of the properties you have rented, landlords may like your offer.
You can also get references from previous landlords or employers to give the landlord a better idea of your character and trustworthiness.
Sign the lease
Once you have chosen the leased property in your preferred location and agreed to the rent and other terms, sign the lease agreement. Remember, be prepared to act quickly because some of the best properties for lease are often taken quickly. So, make an offer as soon as you find a place you love.
Only when you sign the lease you can officially become the tenant of the property.
Breaking the lease terms can result in penalties or legal action, so it’s important to take the lease agreement seriously and fulfill your obligations as a tenant.
So, read the agreement carefully before signing it. When the agreement is made, you can inform them when you will be moving in.
The Quickest Way to Find a Lease Property in the Suburbs of Australia Is:
If you don’t have the time to do the top-to-bottom work of discovering the property for lease, hire a real estate agent. As a matter of fact, a full-service real estate agency will already have a list of properties managed by them. If you ping them via the website, they can easily find the best property for rent. But there is a catch, and hiring a local real estate agency is highly important. Because they know the local market better and can help you with your needs.
If you want to rent a property in Epping, Wollert, or Craigieburn, get help from OneGroupRealty, a real estate agency that excels at helping people lease properties in these areas.
Conclusion
It’s no doubt that hunting down the best property for lease is a big deal. But this work becomes pretty easy if you learn the right approach and mindset. We hope this extensive guide will help you find the perfect place to call home. Now go ahead and confidently start your search to find the perfect property to lease and enjoy a fulfilling experience living in your house.
Recent Posts
