Homes and apartments are available for rent either privately by owner or through a property manager. The rules are different in each State and Territory but are basically as follows;
- Homes are advertised to rent through various online and print media. At times a home open may be advertised to allow potential tenants to have a look.
- When you find a suitable home, a tenancy application is completed and sometimes an application consideration fee (usually one or two weeks rent) is paid.
- The property manager will interview potential tenants and contact references. They would also check the National Rent Register to ensure an applicant is not black listed for prior non-payment or malicious damage.
- If successful, a lease agreement (usually 12 months) is drawn up and signed by applicant and landlord. A bond equivalent to a month’s rent is paid into a Statutory Trust account and a month’s rent is paid in advance to the landlord.
- Regular property inspections are carried out by the property manager and rent reviews are generally negotiated annually.
Article provided by RPIA