If you’re planning a move to Australia, securing a rental property will likely be one of your top priorities. So we have listed the key things to be aware of, along with some tips to help you secure a home in a competitive market. From understanding rental application requirements to navigating the inspection process in Melbourne, Sydney, Brisbane, Perth and Adelaide, being well-prepared can make all the difference.
Searching for a rental in Australia can be an overwhelming process. Especially for those unfamiliar with local rental regulations and market conditions. Here’s what you can expect when navigating your Australian rental search. Plus, some tips on how to improve your chances of securing a great home.
-
Competitive Market Conditions
The rental search in Australia is highly competitive, particularly in major cities such as Sydney, Melbourne, Brisbane, Perth and Adelaide. It’s not uncommon to see 30+ people attend rental inspections. Rental properties typically receive multiple applications, and desirable homes can be leased within a matter of hours/days. Therefore, understanding the local market and acting quickly will give you an advantage in your Australian rental search.
-
Limited Inspection Opportunities
One of the biggest challenges in the Australian rental search process is the limited availability of properties to inspect. Real-estate agents normally schedule only one open for inspection. Typically, lots of people attend the rental inspection and multiple applications will be received to rent the property. Therefore, properties are only open once then they will be leased.
Plus, properties are only open for 15 minutes to inspect and that could be at any time of the workday or on a Saturday. So, it’s important to ensure you are never running late to an inspection as you will miss out. It’s also essential that you know how to get to the property and where to park so you don’t waste any time.
-
Strict Application Requirements
Real-estate Agents in Australia require extensive documentation, including proof of income, passport and ID documents and rental history. A strong application is crucial in your rental property search in Australia to compete with other potential tenants. Many renters use relocation specialists to help them prepare competitive rental applications and streamline their Australia rental home search. That’s where Australian Relocation Managers can assist.
-
Upfront Costs and Financial Considerations
During your rental search, it’s essential to be aware of the upfront costs. Tenants are typically required to pay a bond (security deposit) equivalent to four to six weeks’ rent. Plus, they will have to pay either two or four weeks’ rent in advance, depending on which state you are searching for a rental property in. You are also often required to pay this within a matter of hours of being offered a property. So, it’s essential to have your finances all sorted out prior.
Australian Relocation Managers often help clients with this process when they don’t have an Australian bank account set up yet. We don’t want our clients rental search in Australia to be affected because they cannot pay their bond or rent on time in order to secure their dream rental property.
-
The Role of a Relocation Manager
Given the challenges of a rental search in Australia, many newcomers seek help from relocation managers who understand the local market. A Relocation Manager provides guidance, arrange property viewings and assist with applications to increase your chances of securing a rental. If you’re struggling with your rental search in Australia, working with a professional from Australian Relocation Managers can make a significant difference. We have helped 1000’s of clients relocate to Australia so we know the rental market inside out.
-
Seasonal Market Trends
Timing does play a role in the rental search Australia process. The market is particularly competitive in January when many people relocate for work or university. Similarly, October, November and December can be tricky due to holiday closures in the real estate industry. Plus, families are trying to relocate and find a rental property so they can secure a school before the school year finishes in December. However, due to the rental property shortage Australia wide, we are now seeing large numbers of people attending rental property inspections throughout the year.
So, it’s never been more important to ensure you start your rental search in Australia well before you arrive. If you are not using a Relocation Manager to help with your rental search, then you should allow about 2-3 months to secure a rental in Australia.
The rental search in Australia can be challenging, but with the right knowledge and preparation, you can secure a great home. Understanding the competitive market, preparing a strong application and considering pcan all make a significant difference. It may also be worth employing the services of a relocation manager. They can manage your entire rental search so you can just arrive in Australia and move straight into your rental property.
Whether you’re moving for work, study, or a fresh start, a well-planned rental search Australia journey will help you settle into your new home with ease.
Rental Search in Australia
Need Some Help With your Rental Search
If you need assistance with your Australian rental search, then contact Australian Relocation Managers.