Completing application forms and paying money
Once you have decided on a suitable property and have collected an income or bank account balance, previous rental history (if any) and references it is time for you to complete applications forms and commence payment.
A student pack is available from the Off-Campus Housing Service which includes relevant information you should know prior to starting a tenancy. The Tenants Union Victoria publishes a wide variety of fact sheets which you may also find helpful. These are available in a range of languages.
Application deposits
Please note that it is acceptable for your real estate agent or your landlord to ask for an application deposit along with your rental application and paperwork.
It is very important that, if you pay a deposit, you must receive a receipt. The deposit must be refunded if your application is unsuccessful, alternatively it must be deducted from your first rental payment if your application is successful.
Bond
A bond is a security deposit (usually equal to one month’s rent) that you pay to the landlord or real estate agent at the start of your tenancy. At the end of your tenancy the landlord may be able to claim all or part of your bond as compensation for any damage to the property including for unpaid rent.
If you pay a bond, make sure you sign a Residential Tenancy Bond Authority lodgement form and retain the yellow copy. In addition, make sure you complete a Room Condition Report before you move in.
Rent in Advance
If the rent is $350 or less per week, you can be asked for a maximum of one month’s rent as bond. In addition, if your rent is paid -
- Weekly you can only be asked to pay 2 weeks rent in advance.
- Fortnightly you can be asked to pay one calendar month in advance.
If your rent is more than $350 per week, there is no maximum limit on the amount of bond or rent a landlord can charge in advance, however, the landlord must stipulate the expected frequency of payments prior to you signing the lease.
Leases
A lease is also called a residential tenancy lease agreement and is a contract between you and your landlord.
A lease will outline the following information:
- the period of time you will be renting the property
- how much rent you need to pay
- when you need to pay your rent
- the terms of leasing the property.
It is important that you understand the content of the lease agreement. It is a legally binding document and it can be very difficult to end your tenancy before the end date. Never sign your name to something you do not understand, and never sign a blank document. If you do not understand your lease speak to a Housing Officer.
Condition report
The condition report is your evidence of the state of repair of the property prior to and at the completion of the tenancy, and it is used to determine if your bond will be repaid. Before you move into a rental property go through the condition report and make sure all damages, marks on walls, furniture and carpets are documented, including photographic evidence, if possible. The condition report will be used as evidence if there is a dispute about who should pay for cleaning or damage to the property or the replacement of missing items at the end of the tenancy.
