Tenancy and renting

Tenancy and renting

Before you consider renting a property there are some very important things you should be aware of.

Entering into a ‘tenancy agreement’ or ‘lease’ is a legal contract. You must read all the terms and conditions. You must also be aware that this gives you certain rights and obligations.

Before signing, there are a few things to consider.

Budget 

Renting on your own can be expensive, but there are other costs you’ll need to think of too.

  1. How much will it cost to move your things? (paying removalists)
  2. How much money will you have to pay in bond?
  3. How much rent will you need to pay? (Note: rent is often charged fortnightly)
  4. For amenities like internet, electricity, gas and water:
    1. What are the setup costs, and how long will setup take?
    2. How much will these amenities cost monthly?
  5. Do you need to pay for any maintenance? (e.g. periodic cleaning for things like a pool)

Once you have calculated your costs, add them together and decide whether the property you are looking at is affordable.

Remember: if you fail to make rental payments this can affect your ability to rent in future.

Rights and responsibilities

The rights and obligations of tenants and landlords in New South Wales are set out in the Residential Tenancies Act 2010 (NSW) and the Residential Tenancies Regulations 2010 (NSW).

To help you understand these, Tenants NSW  provides summaries and information.

They also provide information regarding starting a lease, rent and bond, repairs, privacy, and information about share housing.

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