scoobydooathome

Hi guys,

Is it my imagination or is renting cheap, there seems a lot choice on the market in all areas at very very reasonable prices

I have seen properties for rent that are also for sale, does this mean the investor has er over invested hmmmm, I'm now thinking things may be very different in a years time when the OZ property boom has cooled down ... buy hey who know's

So to rent a home in OZ, what's the catch apart from 6 months min, deposit (bond), and references, plus tenant pays utilities I guess ...

Going to keep Sterling for the time being,

mashiraz

Hi Scoobs, you are obviously thinking along similar lines as ourselves in the hope that the dollar goes back up and the oz housing market follows the same trend as UK.

What if neither, or even all 3 happen?

Worst case, UK housing market continues rise despite current hiccup, Oz dollar strengthens to 2.40 or lower, Oz property prices continue to rise?

What then?
Mash...

scoobydooathome

Hi Mash,

That third sentence sounds like a nightmare, plus renting the best way to get to know your areas,

r.bartlett

we shall rent our house out here and rent in adelaide..
i now consider it to be my pension as we can sell up and retire off the proceeds -or live off the rental whatever..

this seems to be the best bet for us...



fthe big spread betters are betting large on a 10% fall in house prices in london this year..

london is always the first into a boom and the first out of one too...

a look at the graph posted here around christmas showed that house prices always rise on longterm (or they would still be 100 quid)

but have suffered several -predictable- patterns -ie a sharp rise -boom- followed by a sharp correction -bust.
no matter what g.brown might say...

whilst there was a lot of people saying "ah but it's different this time" history seems to be proving them different.

look at the 'tokyo' thread.
we can all remember the stories about couples taking out 100 year mortgages -for their kids to inherit - in downtown tokyo

now it appears that their housing is cheaper than oz

well i was suprised for starters!!

i would expect au to have a simular experience to everywhere else as regards house prices.at some point in time...

I don't know the statistics of 'three to a pound' but maybe '2 to a pound' is more the norm and the days of dividing their house prices by three has gone (at least for the next several years..)


cheers

richard

wizzywozza

I rent a 3 bed, one bath, laundry, lounge/diner, family room/kit/diner in Woodcroft. It is $185 a week which may seem cheap but when you consider the average take home wage in this State it isn't really. The rental costs depend on which suburb you live in - as do house prices in general.

The bond is 4 weeks rent. I didn't need any references for my house, but having been a home owner before here in Oz didn't hurt. You can go inspect rentals, then apppy for the ones you like but the ultimate decision is up to the landlord with their property managers advice. It is always best to go through a real estate agent, as the bond will be put in trust with the Lands Tribunal, and the agent will arrange any maintenance problems for you. The landlord pays for most maintenance - I had to have the air con done shortly after I moved in for instance.

I pay the gas and electricity, and only the excess water - not the quarterly bill, and the landlord pays the rates and emergency services levy. This is all standard. Private renting is very, very popular here, as waiting time for a housing trust (i.e. council house) is around 15 years at present.

Most tenancy agreements are for one year but if you have to move within the period of the lease then you may have to pay advertising costs, usually from the bond. There are inspections of the propoerty by the property agent every three months and they can do this when you are not at home.

When you move out any cleaning etc can be taken from your bond. You are expected to maintain the house and gardens in the original state it was when you moved in. It doesn't hurt to take some photos of it and make a list of any problems you find at the time of moving in, so you cannot be charged for repairs on them later. The agent will also have taken photos to keep on file.

When you apply you have to state who is to live in the property, any pets, and about your income and/or employment.

As I said I don't think you will have any problems at all. The agents are quite used to new migrants walking in off the street looking for a home home to rent quickly.

Loopy

As said it depends on which area you rent in, areas we liked were typically $220 - $350 a week with a wide range in between. This is Perth by the way.

Ours is a 4 bed, 2 bath house, huge, and we pay $230.
We didn't need refs, it's a private agreement and the landlord is very reasonable, he threw in a gardener to do the lawns when we haggled and paid the stamp duty. He pays a third of the water bill to cover the reticulation, we pay rest plus utilities. Bond went to the bond administration unit. Signed a standard 6month contract but if we give a bit of notice we can wriggle out of it.

Loopy

Stan J

In Brisbane there are lots of places operating as Sharehouses, certainly you see lots of ads around the Uni. Typically, and it does vary about a range, one is looking at $80/room.

So do the maths on that $240 for 3 bedroom and $320 for 4 Bedroom houses in the fairly high demand western suburbs around the Uni of Qld http://www.uq.edu.au.

Sure you'll get cheaper further from the City but when you factor in additional travel costs (bus/rail/cat)... plus the odd taxi fare it might be swings and roundabouts?

pommie bastard

I must say I think private renting is far cheaper than the UK and loads more places to rent becauses its tax geared for investors .
The only down side is you can be kicked out anytime after lease is up or the home can get sold under you.