Calculate your budget
When determining your budget, it is a good idea to get an average for the city or region you are considering so that you know roughly how much you will have to pay for rent.
You will then determine what you can afford, taking into account your other living expenses as well as the rent with your income. The costs in the beginning will probably exceed your savings. You usually pay a security deposit before you move in, usually four weeks’ rent and in most cases also a couple of weeks’ rent in advance.
Searching for properties
Our advice when using Trade Me Property to find a rental is to be smart with our filters. You’ll save a lot of time looking at listings that don’t suit you by making your search as precise as possible.
On Trade Me Property, you can filter:
- Location (and suburbs, if applicable);
- The amount of rent you want to pay per week;
- How many bedrooms and bathrooms you need;
- Type of property;
- Any other keywords (near schools).
Visit some property reviews
With this short list in mind, it’s time to get out and see some properties.
Under the agent’s details on the right, you’ll see a blue button that you can use to book a viewing or send the contact an email. Make a note of the viewings you book: double booking yourself and having to cancel or worse, a ghost, agent or landlord will not start a positive relationship.
Make an application for the property
When you find a rental property that you really like, you will need to apply for it. To do this, you need to fill out a rental application form, which you can get from the landlord or agent. These are usually very simple documents that will require basic information such as:
- Your name and contact information;
- Your current address and previous rental history;
- Authorization for the landlord to run a credit check;
- References they can contact.
Sign the contract and do a move-in inspection
Yay, the landlord has chosen you, it’s time to sign the lease. Be sure to read it carefully before signing it – these documents are legally binding, so ask for help if there is anything you don’t understand.
The lease agreement must be in writing, but it is important to understand that the Residential Tenancy Law will still apply even if you do not have a formal written agreement. This means that both you and the landlord will still have responsibilities that you will need to fulfill.
Pay the security deposit
You will need to pay a deposit before you move into the property. This can be four weeks’ rent and will be held by the Rent Service. It will be used if the landlord needs to cover costs such as:
- Unpaid rent;
- Lawsuits related to the tenancy;
- Damage to the property;
- Unpaid bills.
Moving expenses
You have overcome the last hurdle and you have reached move-in day! Be an honest tenant, be able to communicate if there are any problems in the house, pay your rent on time, and you will enjoy your stay in your first rental home. Make it yours (within reason), relax and enjoy!