It’s becoming a commonly held belief that property is unaffordable for those looking to invest in rental real estate in Adelaide. Sometimes the rumour mill becomes a self-fulfilling prophecy of FOMO (Fear of Missing Out) that causes prices to spike.
While it is true that property values and rents have skyrocketed, there are still affordable properties to be found. Furthermore, there are many more myths about the rental market, such as a landlord won’t rent to a single person or to roommates, etc. For those seeking houses for rent in Adelaide, let’s look at some of the more common myths and see which ones are true–and which ones are just plain incorrect.
Myth #1: Rents Are No Longer Affordable
It’s no doubt a single person with a mid-level salary isn’t going to be able to afford to live in Toorak Gardens or Malvern, but the same person could afford a place in and around Salisbury with average rents at approximately $290 a week.
One could also look at downsizing to a rental home in Adelaide. After all, smaller places are cheaper, and while it may be less than ideal, it can also help to have roommates to split the cost of rent.
Myth #2: Landlords Won’t Rent to Roommates
Speaking of roommates, there is a common misconception that landlords only want to rent to couples. While it may be true that some grouchy boomers aren’t going to want to rent to “lazy millennials,” this is more about age discrimination than who you choose to live with.
It’s understandable if a landlord doesn’t want to rent to two college roommates who are into the party scene, but there’s no reason that two people with salaries that meet the affordability criteria shouldn’t be able to get a place together.
One strategy is to find a place that technically could be afforded by either one of you alone. This way, the landlord may be more comfortable renting to roommates because in the event that one moves out, the landlord stands a decent chance of still getting paid. University districts are a great place to look for rentals with roommates and can also provide more options for socialising.
Myth #3: Property Owners Can Enter a Home at Anytime
While the law does allow a landlord to inspect his property from time to time, the exact length differs across various state and local laws. Typically, it’s once or twice a year, and it almost always needs to be with the tenant’s permission and at an agreed-upon time. The property is, after all, yours for the length of the contract.
That being said, it does make sense to be polite and amenable to a landlord’s requests–a tenant who never wants the landlord around can look suspicious. Conversely, a landlord who is always poking their nose in your business is perhaps looking for an excuse to remove tenants so he can re-market the property at a higher price.
Myth #4: Renting Is Always Better Than Buying Because You’re Not Responsible for Repairs
You aren’t responsible for repairs for damage that you didn’t cause. If an exposed pipe breaks and floods the house and the floor needs to be replaced, it’s probably on the landlord to fix it. However, if the plumber arrives and discovers that you’ve been hanging heavy wet laundry on plastic piping and that’s what’s caused the mess, the bill may end up going to you. Disputes around who is at fault or liable can be common.
Make sure you’re careful how you use a rental property and be sure and speak with the landlord before moving in to identify any issues that you should be aware of. Also, you should always report an issue before it gets out of hand—regardless of who is at fault, the faster an issue is dealt with, the lower the repair bill.
In Conclusion
There are a lot of misconceptions about renting in Adelaide, and hopefully this article has cleared some of them up so you can feel empowered to get a home that’s just right. Of course, Soho is here to help–just take a quick browse through our website to find the perfect rental for you!
