Renting your first Adelaide home is a big deal, which is why you might need our real estate renting tips Adelaide to know what you’re getting into.
The rental market can be very competitive, with certain suburbs in capital cities like Adelaide being very popular amongst people looking for the exact same thing as you. Which is why it can also be useful to know the cheapest areas to rent in Adelaide.
So it’s best to be prepared by knowing what you want and how much you’re willing to pay for it. Also, if it’s your first time renting, you clearly won’t have any rental history. But don’t worry, there’s a first for everyone, and we’ve got tips on how to prove you’re a reliable tenant.
So let’s dive into some expert real estate renting tips.
Summary of pro tips:
- Ask your employer to be one of your personal references
- Prepare a digital and physical copy of your rental application and have the hard copy on hand when you go on inspections
- Set up your match profile on Soho and get alerts on property matches, new homes and inspection times
- Take photos before you move in to note any damages
- Think about travel time to the locations you go to most often
1. Create a budget for renting
The cost of rent in Adelaide is different from other capital cities. For one, it’s not the cheapest, unlike Melbourne. But it also isn’t the most expensive, like Sydney.
There are also other costs aside from your rental payments. You need to think about your bond, any cleaning or repair fees, and of course, monthly utility bills.
So when you think about the price range of your rental, you need a budget. Many trust the 30% rule that is, you spend 30% of your monthly earnings on your rent. However, some argue that this is an outdated theory.
So better yet, create a budget that’s based on how you spend and any debt you have to pay off. Track your expenses with an online tool so you know where your money goes.
But if you like stronger guidelines, you can consider the 50/30/20 budgeting theory. So you spend 50% of your monthly income on rent, utilities, groceries… basically your needs. Then you spend 30% on your wants like dining out and shopping. Finally, 20% of your leftover salary should go to your savings account or paying off your debts.
2. Download the Soho app to get property matches
There are tons of real estate apps out there to help you browse through available properties in Adelaide, but with Soho you can take it one step further.
Set up your match profile in a minute, with all your criteria and Adelaide suburbs you’re interested in, and you can start browsing. Then, even when you’re not on the platform, we’ll send you property matches that come onto the market so you don’t miss a beat.
3. Prepare your rental application early
Almost every rental property you are interested in will require a rental application which includes:
- Proof of income – employment contract or pay slips to prove that you will be able to make rental payments
- Photo ID – driver’s licence or passport
- Recent utilities bills and/or bank statements
- Personal references – these are people who can vouch for your reliable and responsible character. Previous landlords, your colleagues or employers are good choices. A previous neighbour’s referral is also helpful because they’ve lived next door to you.
- Cover letter – while this isn’t always mandatory, it can really help you stand out. Check out our guide on how to ace the cover letter for your rental application. It should also answer the question ‘why is this property’ right for you?
Real estate renting tips for first-time renters
If this is your first time renting, it’s important to know what you need in your new home. Think about what your non-negotiables are versus things you’re willing to part with. For example:
- Do you work from home? If not, how much time are you willing to spend on your daily commute? Google the transport options from the listing address.
- What are spots you go to often? Like your office, parents’ home or the gym. Factor the travel time to these locations into your choice of suburbs in Adelaide.
- How many car spaces do you need?
- Do you have pets? If so, you’ll clearly need a pet-friendly apartment so make sure you key that into your Soho match profile criteria. Not all rental properties in Adelaide allow pets.
- Do you have people over a lot? If so, a larger living or dining area is important. Otherwise, you can afford to rent a place with a bigger bedroom.
Also, since you don’t have a rental ledger or previous landlords’ accounts, your personal references and cover letter should be strong. So make sure you read our guides on beefing up your cover letter and making your rental application stand out.
Inspect the property when you inspect the property
Of course, we recommend that you physically go see any rental properties you’re interested in. If possible, that is. And when we say you should inspect the properties, we mean to search for any issues. That way, you’re protected in case they think you’re the one responsible.
- Look out for damages, for example, mould, leaks and cracks
- Make sure the appliances and lights are in working order
- The locks on doors and windows should be well maintained
When you’re at the inspection, speak to the agent and ask them about the landlord. Try and get advice about how to fill out the application form for better chances at securing the rental property. You can also use this opportunity to ask them about the rental and bring up any concerns you may have.
Read the tenancy agreement properly
If the landlord or property agent agree to have you as a tenant, congrats! The next step is putting together the tenancy agreement. Every standard rental contract will have the following information:
- The name and addresses of everyone involved like the tenant, owner and property manager.
- When the rental period starts and ends.
- How much rent is and when and how it should be paid.
- What the bond amount is and when it can be used.
- What the tenant, owner and agent are and aren’t allowed to do. Things like, the landlord can’t just enter the property at their will or instructions on rental inspections for tenants for might be inspecting the property towards the end of your lease.
- Any other terms you agreed on
- Any terms on keeping pets. Sometimes the carpet needs to be cleaned before you vacate.
Don’t just sign the lease without reading the terms. It’s important to understand what you’re allowed to do in the property and what to expect from your landlord.
Living in Adelaide
If you’re thinking about getting a rental in Adelaide, you’ve made a solid choice—Adelaide is one of the most coveted cities in Australia. With nature at its doorstep and a vibrant cultural, city life, living there is still much more affordable than the other capital cities.
It’s easy to get around and has all the advantages of a cosmopolitan hub like a great food scene, decent public transport and lots of activities.
How is the rental market in Adelaide?
At the time of writing this article, the price of rental properties in Adelaide has increased by around 4.5% in the last quarter. The raise in prices is due to a shortage of supply of rental properties with more people needing to rent.
Looking for homes for rent in Adelaide?
Set up your match profile on Soho and start browsing. From the location to the land size and houses to units, we’re finding you a new home you’ll love to rent. Then enquire with agents and see if those rentals are right for you.
