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Wellbeing Services
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Vacant PropertiesSome students prefer to lease their own property through the private rental market. The rental market offers a wide range of housing options. Signing a lease on your own for an apartment, flat or house can offer you an independent lifestyle and privacy. You may also plan to stay in this property for the duration of your course at University. The private rental market is a great option if you want to be self-sufficient. You decide how you spend your money and how the property will be established. It can however be very expensive if you choose to live by yourself, as you are solely responsible for the rental payments plus the connection fees for utilities and then ongoing bills. Rental prices vary according to the location and condition of the property. It can be useful to familiarise yourself with the average price of properties in the various suburbs around the University. Rental costs usually increase the closer the property is to the city centre and the University. How do You Organise it?You can rent a property through a real estate agent or directly from the landlord/owner of the property. Properties are usually advertised in the real estate section of newspapers, through real estate agents and their websites, Student Housing Services and the Student Union. You may need to allow at least two to four weeks in order to find suitable housing, particularly at the beginning of each semester when competition for rental accommodation can be tough. Unless you're very lucky (and the first place you inspect is the house of your dreams), be prepared to inspect at least seven to ten places. At the end of the day it becomes quite difficult to remember what each place was like, so it's a good idea to make specific lists about each room in each house. This makes for an easy comparison between properties. It often takes at least three weeks to find a suitable rental property. Try to avoid moving into an unsatisfactory place out of desperation - it is often quite difficult to break your lease if you decide you want to vacate. You should also thoroughly inspect the property and make sure that everything is in good working order. You will need to visit a real estate agent or their websites and have a look at their rental listings for each week. You can also find advertisements for vacant properties on our AccomNet database. Once you have selected a few properties you will then have to arrange an inspection. You can do this by contacting the real estate agent or landlord directly and arranging a time to view the property or by attending an open inspection. Call the agent or landlord for more information. You will usually be asked for a $50 security deposit when picking up the key to inspect the property. This will be refunded to you when you return the key. Establishment costs: When you start your tenancy, you will need to have money ready to pay the first month's rent, one month's rent as bond and connection fees for services such as electricity and telephone. More InformationRead more about your legal rights and responsibilities on our Starting a Tenancy page. We also produce a 'Renting & Sharing a Property' guide, 'Real Estate Agents' list and 'Real Estate Speak' - a list of commonly used real estate abbreviations. Check out our 'Publications' page if you would like to download your copy. |
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Date Created: 11 April 2005 |
The University of Melbourne ABN: 84 002 705 224 |