You’ve been approved, What happens next?
Great news! You’ve found your new home. Now there’s just a few things you’ll need to do before you move in.
Here is a simple checklist to help make the move smoother:
1. Sign the lease
A tenancy agreement or lease outlines the rights and responsibilities of both you and the landlord. It also details key items like the tenancy commencement date, weekly rental amount, and how and when rent is to be paid, as well as the length of the agreement and any special terms i.e. pets, carpet cleaning, water charges etc.
A copy of the tenancy agreement should be provided to you to review before signing. Check it thoroughly and if there is anything within the agreement you do not understand, make sure you seek clarification as once it is signed by your landlord/agent, it’s a legally binding document.
2. Pay the bond
You will be required to pay a bond equivalent of 4 weeks rent to the agent at the time of signing the tenancy agreement. It’s kept as security against any substantial damage that may be caused to the property during your tenancy or to cover rent that might be unpaid when you vacate the property.
Your bond will be released at the end of the tenancy following the agent completing the exit inspection, when you may receive a full or partial refund.
3. Payment of rent
You will also be required to pay rent equivalent of 2 weeks when you pay your bond and sign the tenancy agreement. This payment is used towards your first 2 weeks of rent at the property, it is not an advance payment.
4. Condition report
A condition report provides a record of the condition of the property at the start of your tenancy – to protect you and the landlord.
It lists all the features of the premises including the condition of the walls, ceiling, windows, painting, carpet, fixtures and amenities.
Both landlord/agent and the tenant record their assessment of the premises. It is important as a tenant that you return a copy of the condition report to the landlord/agent within the required time frame to avoid any discrepancies at the end of the tenancy.
Increasingly photographs or video accompany these reports, so take some when you move in and keep them with the report to document the condition of the premises, paying close attention to any existing damage (eg: scratches on paintwork, stains on carpet).
5. Connect the utilities
You’ll need to call each provider and set up your utility accounts for example: electricity, gas, water, phone, internet, etc. Some may require a deposit, and they all take into account your credit rating.
And don’t forget to change your address and set up mail forwarding from your old address.
6. Contents insurance
Accidents do happen. It is your responsibility to take out contents insurance of your belongings. It is highly recommended you have this cover, especially with the moving process and should there be any damage to your contents during this process you will be covered.
7. Collecting the keys
You will receive one full set of keys to the property, and entry keys for any other tenants named on the agreement. The keys will be provided to you on the day your tenancy agreement commences.
Renting is a simple process and problems can be avoided by following the below:
- pay your rent on time
- looking after the property as if it was your own
- making an effort to make sure the property is well presented for any rental inspections
- update the landlord/agent in writing on any damage or maintenance issues as soon as they occur
- request permission in writing for anything that needs doing (eg: picture hooks, painting, improvements)
- seek permission for any changes to the lease (eg: additional/different people on the lease)
- retain all documents about the tenancy in a safe place for the duration of your tenancy, including the condition report and any photos, the tenancy agreement, any letters, and payment receipts, etc
- respect your neighbours by adhering to any strata bylaws or communal property rules where applicable
- if you plan to move out, give notice in accordance with the terms of your tenancy agreement