Migrating to the vibrant city like Sydney can be exciting, but when it comes to finding a stay, typically for quite a long period of time then, people prefer renting over buying houses. With the renting option, you can move from suburb to suburb and enjoy financial flexibility, and witness a short-term financial obligation. Also, renting is much more affordable, and you do not have to pay for repairs too. However, finding the perfect rentals in Sydney can be intimidating.
According to Property Update, in 2023, the Australian rental market is expected to stay competitive. It is predicted that Australia's most loved city, Sydney, will have its real estate market yield high, and rental prices of the most-sought areas' of the city can rise outstandingly. As per SQM Research, Sydney's vacancy rate in 2023 will be less than 2%.
So, to help you find a good rental home in Sydney, we have come up with this blog. Let's dive in our 5 Tips for Rental search in Sydney
Choose Your Location As per your Need or Desire
Location is one crucial aspect to look for when buying property or getting rented apartments. In Sydney, you can rent a home or apartment in Eastern, Inner Western Sydney, North Sydney, and South Sydney Suburbs. You can go to Crows Nest, which is ranked as the most liveable suburb in Sydney, followed by North Sydney, Lavender Bay, Neutral Bay, Kirribilli, Manly, and Fairlight( Source: Urban Living Index).
For vibrant and enthusiastic city life, you can search for spaces for rentals in the suburbs like Redfern, Newtown, Ultimo, Waterloo, Surry Hills, Alexandria and Glebe. For the more affordable side, areas like Marrickville, Annandale, Leichhardt, Beaconsfield and Rosebery can be the better choice. Also, you may have to consider various aspects, including the commute to work.
For a family who is looking for a budget-friendly and quieter living experience, Sydney’s outer suburbs can be a good choice. Also, plenty of private schools and ample green space are available in North Shore, Northern Beaches and Eastern Suburbs.
Provide the Documents needed
The competition to acquire a rental property in Sydney is high; hence, as a rent seeker, you must positively differentiate yourself from other applicants by providing all the necessary documentation.
For this, you need the following documents :
- Photo ID
- Your bank details, including salary/income
- Rental history of past few years
- Employment details and history
- Personal references and their contact numbers
- Copies of accounts in your name.
- You must sign a declaration to allow the agent to contact any of the references you provide.
After that you may have to pay a deposit mostly 1 week’s rent) to reserve the property while the agent reviews your application.
For the application, you can write a few paragraphs about who yourself, your sources of income, and what is the reason for your move to that place/property. In case of having a group to share the place, briefly talk about each member. Have a professional tone in your writing but not overly formal as you want to impress, not exhibit flattery. Make sure to write a custom cover letter for every rental you are applying.
Arrange For a Rental Inspection
After you finally find a rental home and get your application reviewed, a home inspection can be arranged. Going for a house inspection can help you know problems like mold or faulty wiring. Further, you can look for gas or electricity, smoke detectors, curtains, hot water systems, locks on doors and windows, telephone lines, fences, gates, garden, mow lawns, etc.
Dress Appropriately
As per sources, First impressions are made within five minutes of meeting someone. To be precise, the first impression does affect others' perceptions of us. Dressing is one of the prime factors that impact the first impression. Dressing appropriately on special occasions can help you send out a visual message. So, you should wear clothes that are not too loud or not too short- Just Appropriate. With a good dress and good talk, you will surely have a good impression on the rental agents and owners.
Check the Real estate Portal every single day
In case you didn't find any suitable deal, then you can check the domain- A dedicated website that has information about properties for renting and buying. You can also look at Realestate.com.au and Flatmates portal to make the best deals on rental properties in Sydney.
Extra Tips to get a better rental property in Sydney
- You might occasionally conduct follow-up inspections with the real estate agents.
- Never forget to consider your rental budget, rental bond( money you can pay in advance), and first month’s rent.
- Be cautious of mould in Sydney houses.
- Don’t go for a house with less natural light.
- Try to submit your application form quickly and increase your chances of attaining your desired rental property. Don’t forget to put the “Thank you” note.
- Stay honest and don’t hide anything on your application or in discussions with the real estate agent.
- Arrive on time on the date you are going to have a rental property inspection. Being late will certainly ruin your and the agent's entire day’s schedule.
- Find out the rules on payments. Have a good understanding of finer details before signing the tenancy agreement.
Wrapping Up
If you want to begin a new chapter of your life in Sydney, it is better to rent a property than buy it as it is easy on your budget. You can follow the above-mentioned tips to get the best rentals for yourself in Sydney.
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