If you’re on the hunt for a house in Australia, finding a suitable option is difficult. Renting is a bit more affordable as compared to buying. However, the key is to know how to get cheap rent in Australia.
As a renter in 2023, you must know the main tips to get cheaper rent. There are many wise people in Australia who are saving a lot on rent. So, if you want to be one, learn how to save money on rent in Australia.
10 ways to get cheap rent in Australia
After the pandemic, rental prices in Australia rose by 10.7%. Since 2022, many people are under the influence of the renting crisis in Australia. The average rent in Australia has increased after Covid. One big reason for this crisis is that the vacancy rate is quite low currently.
Thus, for most renters, the main concern is to get the most affordable apartment. If you are one of those, don’t worry. Learn how you can save a lot on what is likely the biggest expense in Australia:
1. Learn about the Australian real estate market
To find an apartment to rent, study the local market thoroughly. Compare different apartment prices in the area you’re going to rent. Talk to a few real estate agents in the location. Tell them that they must negotiate rent with the landlord.
Besides that, learn about how rent is paid in Australia. Mostly, the rent is paid on a weekly basis. Also, go through the real estate websites in Australia and Facebook groups. Plus, remain informed about the rental crisis in Australia.
2. Find the best time to rent
In general, you’ll find the first three months the most expensive ones. During this period there are more listings. With every new listing, the real estate market gets busier. This is also a good season for apartment hunting. On the contrary, April and May offer the cheapest rent.
According to stats, May is the cheapest month to rent in Melbourne. But, remember that the rates go down because there are fewer listings. So, finding an apartment to rent could be difficult during this period. If you are lucky, you’ll get the right one at the best rates.
3. Go for professional accommodation
If you have a professional degree or qualification, you’re in luck. There are many jobs that offer accommodation to skilled individuals. So, if you’re wondering how to get cheap rent, find such employment. Some companies also offer accommodation according to your employment.
4. Pay more upfront
Another good way is to pay for a few months or even the entire lease. If you can pay more upfront, this is a good way to pay lower rent. However, make sure you have enough savings. Otherwise, you’ll end up having credit card debt. You must ask yourself: how much rent can I afford? It is important to consider your financial situation and then make a decision.
5. Consider house sitting
House sitting allows you to live rent-free anywhere. House sitters offer services to the homeowners and get paid, plus they live rent-free too. For instance, you can look after the property, take care of the children or pets, etc.
In fact, some people have left their jobs and rental properties to house sit and live rent-free. Many Australians need house sitting services. In return they offer the house sitters a space to live for free.
6. Find an affordable place to rent
The rental prices also vary according to the regions in Australia. Buying and renting a house is more expensive in capital city markets. These cities have a higher standard of life and more facilities.
Thus, rents and living expenses are higher in Sydney and Melbourne. These are expensive suburbs and offer a lavish lifestyle. Thus, you’ll have to pay a larger percentage of income for rent.
If you prefer a capital city, Perth is the cheapest one. Besides that, you can also choose more affordable cities to live in. These include Darwin and Adelaide where you can find an affordable rental property.
7. Consider micro-living
By micro-living, we mean living simple and small. In Australia, micro-living indicates living in an area less than 40 square meters. Most renters don’t consider such tiny spaces to live. But, if you want to save your living expenses, you must consider it. With micro-living, you can reduce your rent to almost 50%.
8. Consider being ‘out the back’
Being ‘out the back’ means to live in a mobile home in the backyard or a servant quarter. ‘Out the back’ tenants have to pay a very low rent as compared to the usual rent. The mobile houses are demountable or movable, but they are attached to a main house.
9. Become a short-term renter
If you’re looking for a temporary place to live, consider accepting a short-term lease. For instance, if the landlord is moving out for a few months, you can occupy their property. In these circumstances, the landlord will offer a lower rent because they are offering a few months to live only.
10. Note the flaws during inspections
During your property viewing, it’s important to keep a discerning eye out for any potential issues. Major housing concerns such as electrical issues, structural damage, or damp are clear red flags indicating it may be best to seek an alternative living arrangement. However, minor imperfections can work in your favour.
For instance, if you notice some stains on the carpet or a dent in one of the doors, it’s reasonable to assume that you could live with these flaws and eventually overlook them. Nevertheless, it’s worth noting that numerous other houses are likely available without such issues.
Make sure to communicate your observations to the landlord or estate agent. When the time comes to negotiate the deal, use these points to explain why you’ve submitted an offer below the asking price.
As long as your request for a reduction is fair and reasonable, and you’re not fussing over insignificant details like specks of dust, there’s a good chance they will consider your offer.
NB: We are definitely not suggesting you invent flaws that aren’t there, but simply keeping an eye out for them and bringing them up with your landlord or property manager.
People also ask
What is the median rent in Australia?
The median rent for a house in all capital cities is $550. For units, the median rent is $495 in all the capital cities. In general, the median rent in Australia is $555 per week.
What’s a good salary in Australia?
A good salary in Australia is between $5,000 and $6,000 per year. In capital cities, the income is higher.
What is the National Rental Affordability Scheme?
The National Rental Affordability Scheme provides financial aid to low-income residents. The scheme provides private rental homes for 20% below market rent for up to 10 years.
Do the landlords increase the rent?
Landlords can’t increase the rent if it’s a fixed agreement. However, if it’s a periodic agreement, the rent can increase every 6 months. In general, the rent increases according to the property prices and market conditions.
