In Australia, moving into a rental property is something exciting. But before that, you should be aware on what cost you need to pay before you can sign on the rental agreement.
First is rental deposit which is normally is 2 weeks rent. Second one is rental bond. Bond is quite huge cost you should pay upfront.
WHAT IS RENTAL BOND?
Rental bond is a security deposit paid by tenant at the start of a tenancy. It is held as security against things such as unpaid rent, damage to the property beyond fair wear and tear, or other costs that may be the tenant’s responsibility at the end of the tenancy.
You should aware that the money does not belong to the landlord or the real estate agent. It is held independently by the NSW Government.
At the end of your lease, you will get this money back in full amount if you look after the property and pay the rent and all other bills on time.
HOW MUCH MONEY TO PREPARE FOR THE BOND
In NSW, the rental bond is capped at 4 weeks rent. So, your actual bond amount will depend on the agreed weekly rent for the property.
Make sure you budget for the bond plus your first 2 weeks rent payment when planning your move. A little preparation can make securing your new home much easier.
At Zip Realty, we understand that moving can involve a lot of planning and paperwork.
Our team is here to help guide tenants through the rental process and make things as straightforward as possible.
Looking for your next rental home in Sydney? Get in touch with Zip Realty and let us help you find a place that feels like home.
