Most rental accommodation in Australia is rented through a Real Estate Agency!
A Real Estate Agency does not own the property but acts on behalf of the owner by employing a manager of the property, called a Property Manager, to organise the new tenants, ensure all the paperwork and legal documents are taken care of, arrange regular property inspections and organise for any problems with the property to be fixed.
Advantages of Renting in Australia
You can choose who you want to share accommodation with, where you live and can easily move at the end of the lease without major cost.
Accommodation in your preferred location (proximity to school, work, etc).
Rights As Tenants
You have rights and protections guaranteed to you by a tenancy agreement and the advice and protection of your state’s Tenancy Board.
Cost Free Maintenance
You are not responsible for repairs to the property that you didn’t cause
Disadvantages of Renting in Australia
Not suitable for shorter time periods. Leases of less than 6 months are almost impossible to find.
High Initial Cost
You need to pay four weeks bond plus 2-4 weeks rent in advance, just to secure the property.
Renting and signing leases is a complex and lengthy task. As a tenant you will need to have a good understanding of English to navigate all the forms.
Shortage of Rental Properties
Suitable rental properties can be hard to find from time to time so competition can be fierce.
High Cost of Rent
Depending on the market and the supply of rental properties at the time the price to rent a property can be substantial and account for more than half a weekly wage.
The amount of the lease generally does not include energy consumption (electricity, water, gas)