Professionals Real Estate We have advice for new tenants. Each month thousands of overseas and interstate migrants are moving to Western Australia because of the massive new investment in the resources sector and the overall strength of the economy.
Professionals are finding that many of these new migrants decide to rent for a period of time before making a decision to purchase a home.
If you have recently arrived in Western Australia and are seeking a rental home, then you should consider the following points:
- Rental Agreement
Before you sign the rental agreement, make sure you read and understand all the conditions of the agreement. If you are unsure or don’t understand anything, don’t sign until things are explained, ask questions or seek external advice. - Rent and Bond
Real Estate Agents may require you to pay rent in advance and pay a security deposit. Before moving into the property, ensure you discuss how much money is required and when payment is required, as agents usually require cleared funds. - Property Condition Reports
Before you move into the property, the real estate agent is required to complete a condition report, which documents the condition of the property as it is, when you take possession. It is important that you take the time to accurately check this report to minimise disputes with the agent at the end of the tenancy. A good agent will include photos, if they don’t then you taking photos is a good idea to minimise disputes and don’t forget to send the agent a copy as proof. - Insurance
Owner’s insurance does not cover the tenant’s possessions; therefore it is the tenant’s responsibility to insure their belongings and furniture. Find an insurance broker to arrange this. - Paying Rent on Time
In the tenancy agreement, it is a condition that rent must be paid on time and in accordance with the terms and conditions set out in the agreement. Paying your rent on time is your responsibility. Not paying rent on time could cost you a potential future reference from an agent. - Routine Inspections
Regular inspections by the real estate agent are generally a legal requirement as outlined in the tenancy agreement, they ensure that the property is being cared for and no damage has occurred. - Repairs
It is your responsibility as a tenant to look after the property and maintain it in good repair. If any problems arise it is important to report problems or concerns in writing to your real estate agent. - Rent Increases
Rental increases are a common occurrence when renting a property especially in areas of high demand. If a rental increase occurs, the Real Estate Agent must do so in accordance with any legislative requirements and issue tenants with the appropriate notice in writing. - Giving Notice
Terminating a tenancy must be done in accordance with the tenancy agreement and legislative requirements. You should discuss the notice requirements with the real estate agent when giving notice. Always submit your notice in writing. - Communicate
Open and honest communication is the best way to maintain a happy and professional ongoing relationship with your Real Estate Agent. Always keep the lines of communication open with your agent to ensure a positive relationship.
If you are looking for a rental property or would like Professional advice to rent your investment property out, contact your nearest Professionals office.
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