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First-Time-Renters: What You Need to Know When Renting in 2023

Posted by Nathan on 20 February 2023

Renting for the first time can be exciting, but you need to be organised and have a good understanding of the market if you want to get the best deal, and a comfortable stay. Here are some things that you need to know before you go ahead and sign the contract.

How does rental lease work?

Your rental lease is one of the most important documents, so make sure you have read everything before signing, because when you’ve signed it, it means that you agree to everything that is written. Your rental lease will provide information about your length of stay, your rental payment and when to pay them, and your responsibility as a tenant.

What is your right as a tenant?

Renting comes with a lot of responsibility, but you’re also entitled to a lot of basic rights. As a tenant, you have the right to live in a safe and secure environment, which means that general maintenance and repairs need to be carried out when necessary. You’re also entitled to privacy, which means your landlord cannot show up at your place without your permission.

What is a bond?

Rental bond is a sum of money that you need to pay at the start of your lease. Most times your bond is one month rent. Bond is a financial security for your rental provider, just in case there’s a lease agreement breach or damage to the property. Make sure that you keep your rental property clean and undamaged so you can get your bond back by the end of your lease. Your bond and rent are separate payments, and it cannot be used as rent, which means  when you move out you can’t ask the property management to deduct the payment from your bond.

What is a condition report?

Once it’s time to move into your new property, you’ll be given a property condition report. This report records the condition of the property at the start of your tenancy, so this is the right time to report any maintenance or repairs that needs to be done. This condition report is really important, because if you didn’t note down the damages when you moved in, you might be held accountable for it and that might affect your bond lodgment.

So do you feel more confident when looking for more accommodations now? RoomingKos offers safe and affordable accommodations surrounding Melbourne. Talk to our team now for information on availability.

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