Renting a home is an exciting milestone in your journey in life, and you can avoid a lot of stress and drama if you understand the process of renting a house from an owner. In this article, we’ll explore the ins and outs of renting a home from the owner in Melbourne and how to make sure the process is as easy as possible.
What Types of Homes Are Available in Melbourne?
Melbourne’s residential property market is quite diverse–in Melbourne, you can find various home options for the needs of different tenants. You can choose from the older Edwardian and Victorian-era homes or new deluxe homes, and new apartments and houses are always being added to the city.
You can access different properties in different styles and sizes to rent in the city based on your requirements. The prices of Melbourne rentals depend on different factors such as the size of a property, its location, and their closeness to shopping, schools, and transportation.
Renting a Home From the Owner
In Melbourne, most people rent a home or apartment through housing or apartment companies, but you can also rent a home directly from its owner. Whether you’re choosing to rent a single room or share a home with family or friends—the choice is yours. The process of renting a home from the owner includes the following steps:
Find a Property
You can look for real estate agents in specific areas using different websites or you can directly find properties that fit your preferences on reliable online platforms like Soho.
Most rental properties offer standard amenities and fixtures like storage and heating and an oven, but most don’t offer furniture. Utility bills like electricity, water, and gas vary from property to property—sometimes they’re included in the rent and sometimes you have to pay them separately. Because of this, it’s important to discuss the utility costs with your real estate agent or the owner of the home.
Once you’ve found a place you’re interested in, you need to inspect the property. Real estate agents only accept applications from people who have visited and inspected the property. If you can’t inspect the property, send someone on your behalf.
Inspection of the property is vital because you can ensure the property you’ll rent is in good shape with its utilities functioning properly. View a property using one of these three ways:
- Attend an open public inspection held at a specified time where anyone can inspect a property
- Book an appointment with a real estate agent or owner directly
- Visit the real estate agent’s office or contact the owner and see if they will lend you the key so you can visit the property on your own
If you plan to attend an open inspection, bring identity documents such as your passport or driving licence. We also encourage you to prepare a list of questions about the property.
Apply for a Property
Once you’ve selected a property, the next step is to fill out an application form to apply for a rental property in Melbourne. The application forms include the following details:
- Identity documents such as a driver’s licence, passport, birth certificate, Medicare card, or health care card
- Contact details of references
- Your rental history
- Your income details, including payslips from your current employer
- Your bank statement
Sign the Lease Contract
When all parties agree, it’s time to sign a lease agreement. The lease agreement usually has the following details:
- The time frame of the agreement
- The amount of rent and dates of payment
- Other special conditions, such as pet deposits
Before signing the contract, read it thoroughly. If you have questions or concerns, talk to the property owner or real estate agent. The next step is to set up whatever utility services you need such as: gas, phone, water, electricity, and internet.
When you secure a rental property, you have to pay a bond. A bond is the security payment that you make to the property owner if you somehow don’t fulfil all the agreed terms of your lease agreement.
For example, if the property was damaged during your stay, the owner can cover the cost of damage from the bond payment. Usually, you’re supposed to pay the property rent for four to six weeks as a bond. Before moving into your new apartment or home, ensure everything works properly, and if something needs to be fixed, convey this to the owner or real estate agent.
Whether you want to find entire houses for rent in Melbourne or want to look into renting out a granny flat in NSW, Soho’s got you covered. Check out our wide array of available rental listings today!