Rent & other costs in australia

How much does renting cost?

Rental costs vary considerably according to the size (number of bedrooms) and quality of a property, its age and the facilities provided.

Not least, rents depend on the region, city and neighbourhood. Rents are lower in rural than urban areas and, as a general rule, the further a property is from a large city or town, public transport or other facilities, the cheaper it is. Average rents tend to be highest in Sydney, Melbourne and Darwin.

Approximate weekly rents for unfurnished properties in larger cities are shown below (weekly rent):

Studio/bedsitter – $250-350
1-bedroom apartment – $350-450
2-bedroom apartment – $500-600
3-bedroom apartment – $700-1000
2-bedroom house – $500-750
3-bedroom house – $800-1200

Fees & Bonds

Most letting agencies and estate agents charge tenants a fee of two weeks’ rent for a one-year lease and one week’s rent for a six-month lease, which are the legal maximum fees. Usually, you’re expected to pay one month’s rent in advance, depending on the type of property and the rental agreement, plus a bond (see below) which is held against damages. Tenants must also pay a fee for the lease document, plus a deposit for electricity and gas. Beware of hidden extras such as a fee for connecting the electricity, gas or telephone (or a refundable deposit).

When renting property in Australia, a bond (deposit) must be paid in advance. The bond is usually equal to between four and six weeks’ rent, and is normally higher for furnished than unfurnished properties, and can be as much as eight months’ rent for a luxury furnished property. It’s lodged with the Rental Bond Board together with a copy of the inspection (condition) report.

How to get cheap student housing

After acceptance at university, students are usually advised to apply for a place in a hall

of residence or other college accommodation, such as self-catering houses and apartments.

However, such accommodation is limited and in high demand, and many universities don’t provide student accommodation at all. You should write as soon as possible after acceptance to the accommodation or housing officer, whose job is to help students find suitable accommodation. There’s a huge (largely unfilled) demand for student accommodation (often from overseas students) in the major cities, particularly Sydney and Melbourne, and many universities are looking at ways of providing more student accommodation.

The cost of accommodation in halls of residence ranges from around $90 per week for self-catering to around $280 for full board. Overseas students are usually given priority for housing, although you should investigate the availability and cost of local accommodation before accepting a place at a university. The Coordinating Committee for Overseas Students helps overseas students find accommodation.

A large number of students rent privately-owned apartments or houses, which are often shared with other students, although in many areas this kind of accommodation is difficult to find and expensive (from around $110 per week for a single room and from $170 for a double). Sharing a room with a fellow student costs from around $75 per week. Another alternative is to find lodgings where you rent a room in a private house with meals included. It’s generally recognised that students shouldn’t spend more than 30 per cent of their income on accommodation.

All you need to know before signing a rental contract

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Rent & other costs in australia