NZ Realtors agents have a lot of experience in helping people find a new home or property to rent. Here are some of the steps in the (usual) renting process.
Work out your budget
Before you commence looking for your new home to rent, it’s important to find out how much you can afford to pay in rent each week. Once you know how much money you can spend, stick to your budget and be realistic.
For help with your budget it is worthwhile looking at Sorted or NZ Family Budgeting Services.
Remember to factor things like insurance, moving costs, fees for connecting services and any furniture or appliance purchases into your home renting budget.
Choose the right home
Think about what you are looking for in a rental property. Make a list and prioritise the list into “must haves” and “nice to haves”. Take into consideration your needs for the future. Are you planning a family? Do you intend to have pets? Do you need the security of a fixed term tenancy?
Consider:
- Location and proximity to amenities like transport, schools, hospitals, shops and work
- Rental price range
- Type of property – house, townhouse, apartment, unit
- Property size – number of bedrooms, garage, storage
- Garden and fencing.
Everyone has their own way of searching for a rental property.
To broaden your search, drive through an area and surrounding suburbs, refer to local newspapers and the internet.
Take the time to view a reasonable number of homes to give yourself an understanding of the rental market value of the properties and area you’re looking at renting in.
Check out properties
When viewing properties, it is important for find out as much as possible about the property and keep in mind what you are looking for in a rental
property.
Consider:
- Are pets allowed?
- If there is no garage are you able to park on the property?
- How many people can reside at the property?
- Does the property have working smoke alarms and is it insulated?
- What sort of tenancy is it – fixed term or periodic?
- When is the property available to move into?
- Who is responsible for caring for the grounds?
Applying for a property
When you have found the right property, you will most likely need to complete an application.
Each landlord or property manager will have their own process for applications.
Speak with the landlord or property manager to find out exactly what is required and what documentation you need to provide – identification, proof of income, references etc.
Only sign documents when you are ready
A Tenancy Agreement outlines the terms and conditions agreed to by both the tenant and landlord. Read the tenancy agreement carefully (including the standard terms and any conditions)
and make sure you understand it before you sign it.
Only sign a tenancy agreement when you are sure you want the property.
Bond
A bond is money you pay as security to your landlord to protect them in case of unpaid rents or damage to the property. The bond is lodged with Tenancy Services, which is part of the Ministry of Business, Innovation and Employment.
If you look after the property and you don’t owe any rent when you move out, you’ll get your bond back. Your landlord or property manager should contact you to discuss any claims they may have against the bond for rent arrears, cleaning, damage cause to the property etc.
Record the condition of the property
Your landlord or property manager would have completed an inspection of the property and inventory of the chattels prior to your tenancy commencing.
You should be given a copy of an inspection report when you are given the keys to the property. It is important you take the time to read the inspection report and verify that the information is correct. If amendments to the report are required, or you identify maintenance issues, you need to advise your landlord or property manager immediately (or within the timeframe they have specified).
Get the right insurance
We recommend you obtain personal insurance to cover your personal belongings and tenant liabilities as soon as possible. Your landlord or property manager would have completed an inspection of the property and inventory of the chattels prior to your tenancy commencing.
You should be given a copy of an inspection report when you are given the keys to the property. It is important you take the time to read the inspection report and verify that the information is correct. If amendments to the report are required, or you identify maintenance issues, you need to advise your landlord or property manager immediately (or within the timeframe they have specified).
Get services hooked up
You are responsible for arranging services such as electricity, gas and telephone connected in your own name when you move into the property.
You are also responsible for settling these accounts when you vacate the property.
In some regions, you may be responsible for paying water charges, record the water meter reading on the
property inspection report and in the tenancy agreement. It’s also a good idea to find out when rubbish and recycling is collected and if needed, get your mail redirected by the post office.
Keep records
Ensure you get and keep in a safe place a signed copy of your Tenancy Agreement, and receipts for any payments you make, such as your bond. These may help if there’s a dispute.