The rental market in Brisbane has quite a quick turnaround, with properties being advertised sometimes days prior to becoming available. Properties you see prior to your arrival are likely to have gone by the time you arrive so just use your browsing before you arrive to give you an idea of what you can find. Dont fall in love with something which will have been rented long before you see it!.
Most rentals in Brisbane and Queensland are unfurnished. You will find a few furnished properties available but they are mainly apartments. If you want some insider expert knowledge try a dedicated relocation specialist.
What is the cost of renting in Brisbane?
- Rents are quoted on a per week basis. This can be tricky because rents are actually paid on a fortnightly or monthly basis and so $250 a week does not mean that ou pay $1000 a month as there are different amounts of days in each month.
$250 a week x 52 weeks a year = $13,000
$13,000 : 12 months in a year = $1,083 per month.
- You can negotiate your rental but beware before submitting an application at a reduced rental price: you may well lose it to another prospective tenant. If you have seen that property on the web for some time and you are prepared to move in immediately then you can try. you can even offer a larger amount upfront but if you want to get that property for sure then offer the asking price
On application approval you will need to pay 1 weeks rent as a holding deposit to secure the property. You must agree with the agent how long the holding deposit can be held (holding period) and if you change your mind within this time you can then have your deposit refunded but if it is after this time or if you say ou will take the property and then change your mind then the agent can keep your deposit.
hen you collect the keys you will be required to pay 4 weeks bond if the property is $700pw or less and possibly a greater amount if it is over that – This is held by the RTA (Residential Tenancies Authority) and is returned to you when you move out, subject to no damage.
You will also need to pay 2 weeks or sometimes 1 months rent in advance (minus the holding deposit).
Inspecting Rental Properties in Brisbane
You can see properties by appointment (if they are expensive ones) or at the weekly open for inspection times. Open for inspections are held when the agent feels most people will look and when it is easy for the existing tenant to open up the house. Although they can be held in the week often Saturdays is the biggest day for viewing. Opening times are short (10-10.15am) and you have to plan your Saturday itinerary well as many can be at the same time. Sometimesproperties are advertised using old photographs when the property was brand spanking new! If you drive by before the open you can eliminate a few on your list. Lovely properties go almost immediately and sometimes before they make the mainstream real estate listing sites. Follow some of the real estate agency websites around your chosen areas as this is where they will be listed first. Alternatively a relocation consultant can do the legwork for you.
Renting Property in Brisbane
Securing a rental property and knocking out the competition – Suggestions from a Relocation Consultant!
- Preparation. Fill out an application form which you can download from the agent's site (make sure all sections completed) and attach to it relevant ID (100 points – see full outline below) . Don't forget additional supporting material such as a letter of offer from employer or rental references from your last landlord, bank statements showing regular rental/mortgage payments etc.
- Offer the completed application at time of the inspection and take one of the agent’s business cards. Follow up by emailing the agent expressing how the property was appealing to you and make sure they know your name and link it to the property address. Prompt them that you submitted an application at the inspection and to contact you if they need any further information to assist with their decision. You should have an answer next working day.
- Always follow up with a polite telephone call asking if they need anything further if you have not heard the next day.
Tip! Check and return the condition report which will maximize your chance to havea full refund of your bond at the end of your tenancy.
Rental properties applications– what are they looking for?
- A completed application submitted within an hour of viewing with all ID and additional information attached. Legible writing is a bonus.
- Your References – good work and personal references are needed. Offer all contact numbers as they need to check these before applications are sent to owner for approval. Make sure some of the contact numbers are local.
- Your salary shuld be sufficient andyou can afford the rental payments. A rental reference indicating prompt payment of rent is that they are looking for. Most people coming from overseas with no rental history will increase their chances if they bring a written reference gained at the time of their move from their current rental agent or mortgage broker. If you have any investment properties or extra sources of additional income over and above your salary bring proof of these as this will assist your application.
- Even if you are the first applicant to submit your application the agent will probably send on all applications to the owner. The ultimate choice is the owner's although the rental agents usually give their recommendations (a reason to be especially nice to them). Australian sare often preferred by owners as they are less likely to relocate. Property managers may also put applications coming through a relocation agent to the top of the pile.
Quite often people apply for 2 or 3 properties at one time thus increasing their chances of having one approved. When you are approved you need to put down 1 weeks rent to secure the property – this means it will be taken off the market and no further inspections held. A few days prior to the lease start date you will be required to pay the remainder of the upfront funds due and sign the lease.
Does it all seem too difficult to find a home in Brisbane?
A relocation agent will help you in deciding on the best areas to live and will prepare the itinerary of rental properties on your behalf. They also assist with the application process. Elite Executive Services can assit with your orientation services in Brisbane as well as your Brisbane home and school search. In times of Covid-19 we are delivering virtual orientation, home and school search to make sure you can find a property even if your are in self-quarantine.
Repatriation Services and Departure Services for Brisbane
Departure Services can be a huge help if you are ploghing your way through a mighty to do list before you leave. Equally Repatriation Services for those returning to Australia can be so much easier and cost effective than trying to do it yourself!
If you have a car space but dont need one this is a money making tip. Most properties in Australia come with a parking space. Whether you’re renting an apartment, flat or house, a parking space is likely to be provided. If you don’t have a car and your parking space is empty, then this is an excellent opportunity for you to make some extra income. With parking being so hard to find in Australia, you can lease your parking space on Parkhound and make up to $3,000 a year. Parkhound is like an Airbnb for parking, allowing local residents to lease empty parking spaces to drivers for around $50-70 a week. It’s free to list and Parkhound takes care of all the hassles and paper work. Payments are also automatically credited to your nominated bank account. To lease your parking space, go to go to www.parkhound.com.au and select ‘Lease My Space’