Expat advise: How to rent a property in Sydney Australia; what to look out for
Renting in Sydney is very difficult. Whilst not as difficult as 2007 or when rents peaked in June 2008, but with an acute shortage of rental properties, - particularly at the lower end of the market - landlords are getting brutal about who they pick and choose.
For the returning expat, finding a place to live is not easy and there are plenty of hoops to jump through as our family is finding out.
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If you’re an expatriate and thinking of returning to Australia, here are some essential lessons from a returning expat.
To ride out the storms of the global financial crisis, we decided to relocate our family from Singapore back to Sydney. Reasons were also because of sick family members in Sydney and a daughter who had finished schooling in Singapore.
However, trying to rent a property in Sydney has now become absurd and as property owners attempt to reduce any “risk” of potentially egregious tenants, agents and owners now resort to using “Pre-Application” and “Application” forms which are used to screen potential applicants. This, we might add, is all before the preparation of the Residential Tenancy Agreement.
There is nothing wrong with using an application form but these forms exceed what the Australian Government requires for a Passport Application and we provided less details to our bank when we applied for a multi-million dollar loan!
Agents will use this information and conduct what is called a “Tenant Reference Search” from various database providers. Make sure you have an excellent credit reference otherwise you will be listed as a default and treated like a pariah.
Here are some examples of what Agents want in Sydney now.
RAY WHITE
Application form sections:
A: Agent details
B: Property details
C: Personal details
D: Utility Connection – signing the application allows Ray White to share the information with a company called UtilityOne Electricity. No disclosure by Ray White whether they receive a commission.
E: Declaration by Applicant
F: Applicants history of rental – overseas rentals are not considered
G: Employment current and previous history
H: Contacts and references
I: Other information of pets
J: Payment details
K: Reservation fees. You pay a reservation fee for a period of days to block others viewing the property. Non refundable.
If you are from overseas, you will most likely need to provide:
Last 4 rent receipts
Drivers licence (NSW preferred)
Passport (essential)
Proof of income or tax returns for past three years
Australian bank account statement with sufficient funds in the applicant name.
Reference from previous agent
Proof of current motor vehicle ownership and registration papers
KEITH SOAMES REAL ESTATE
Application form sections:
A: Agent details
B: Property Applied for
C: Full name of applicant including all names and ages of tenants/family
D: Applicants history of rental – overseas rentals are not considered
E: Employment current and previous history
F: Student details
G: Personal references
H: Disclaimer
I: Privacy statement waiver
J: Reservation fees. You pay a reservation fee for a period of days to block others viewing the property. If the application is accepted then the reservation is credited to rent.
Keith Soames seem less perturbed if you are from overseas. Again, you will have to provide information for a “100 point check list”
Last 4 rent receipts – 50 points
Drivers licence (NSW preferred) – 40 points
Photo ID – 30 points
Reference from previous agent – 20 points
The following are 10 points:
Australian Passport
Current Motor Vehicle registration papers
Birth certificate
Phone account
Electricity account
Gas
Bank statement
Essential links for Australian expats in Sydney rental market:
Find a rental property in Sydney. From our experience there are really only two sites worth reviewing and actioning about properties for rent. The Fairfax Media owned Domain.com.au and the REA Group realestate.com.au.
Domain.com.au is owned by the Fairfax Media Group and offers the ability to search for new homes, rentals, share or investor property. Easy site to use and a great feature is using postcode search which includes a greater geography for where you want to live. For rentals available in Sydney throuh domain click here (will open in new window).
Realestate.com.au also offers an excellent opportunity to find and peruse properties. Most agents list at realestate.com.au and also domain. However, some agents have told us they will only list at one or the other. For rentals available in Sydney click here (will open in new window).
Resources to help you through the rental minefield.
NSW Office of Fair Trading : click here for access to some of their publications.
An excellent resource. The Tenants NSW (TU) is the state’s peak non-government organisation for tenants. It represents the interests of all New South Wales tenants, including tenants of private rental housing, social housing tenants, boarders and lodgers, and residential park residents.Tenants NSW Advise and Advocacy – http://www.tenants.org.au
Also review the excellent resources and fact sheets all about legal positions here - http://www.tenants.org.au/publish/factsheets/index.php
To check whether you are on the default list.
Trading Reference Database. Trading Reference Australia (TRA) is a national database relating to residential and commercial rental information. Click here for more info.
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