Five things you need to plan for when moving to a new rental
You know what they say about moving house – it’s potentially up there with the top stressful experiences of life.
But it doesn’t have to be, providing you know what to expect and plan for the expenses involved.
What do we mean? Well, let’s look at five things you need to plan for when moving to a new rental.
The bond
On the financial side of things, the bond is probably the biggest item you need to take into account.
Usually equating to about four weeks rent, the bond needs to be paid upfront before a rental agreement commences.
This money is then held in trust throughout the rental agreement and released at the agreement conclusion.
If there is damage to the property or rental payments are outstanding, a property manager can draw on the bond to cover any costs.
You can learn more about how to ensure you get your bond back in full here.
Two weeks rent upfront
In addition to the bond, rental occupiers usually commence an agreement by paying two weeks rent in advance and this is designed to ensure your rental agreement commences on the right financial footing.
You then pay your rent on the same day each week to ensure you remain two weeks in advance.
The entry condition report
When a rental occupier is handed the keys to a rental property, they will also be issued with a very important document called the Entry Condition Report.
This is a report that has been completed by the property manager, detailing the exact condition of each room of the property and its exterior, including marks on walls, hooks for pictures, aerial sockets and more.
This report also has a section for the rental occupier to fill in where they note any existing issues with the property.
It’s important you complete it, sign it and hand it back to the property manager within a set period.
At the conclusion of the agreement, the property manager will refer to this document during the exit inspection to ensure the property remains in the condition that it was in when the renter moved in, other than fair wear and tear.
Utility connections
When you rent a property, you are responsible for connecting utilities such as your phone, internet, and electricity.
If the property uses gas for the hot water system or stove, you will also need to connect with a supplier for that service.
We recommend you contact suppliers in advance and line-up everything to be connected on the date you move in.
Moving
Whether you hire a truck yourself, call in the help of friends or engage a removalist, the act of physically moving your furniture and personal items can be expensive and time consuming.
You probably want to be organised well in advance, and if you’re relocating from another rental property, don’t forget to allocate sufficient time to have that property cleaned.
Teething problems
As much as everyone involved with a rental property tries to avoid it, there can sometimes be teething problems at the beginning of a rental agreement.
Perhaps the previous rental occupiers never used the TV aerial in a certain bedroom so the property manager had no idea it didn’t work, or maybe you would like to add an extra picture hook to accommodate your interior design style.
Whatever the question or issue, feel free to reach out to your property manager to let them know of any problems that might need to be remedied.
After all, a successful rental experience is all about the parties involved working together to ensure positive outcomes.
How we can help
Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.
We manage every property as if it were our own and you can learn more about our property management services here.
Alternatively, if you are looking to rent a property, you can view the properties we currently have available here.
