How to end a Lease Ending a lease is one of the most important aspects of renting. Getting it right avoids stress and cost down the track. It also sets you up for a great rental reference. Life is unpredictable and you may decide not to renew your expiring lease or to break lease. Either way, you need to let your property manager know in writing. As you navigate your way through bringing your lease to an end, there’s some important things to know so that all runs smoothly and any financial penalty is minimised as much as possible.
When you enter into a rental agreement with a landlord, you’re both making commitments, taking risks and placing trust in each other to perform under the rental agreement.
The landlord is opened up to financial risk - mainly arrears and damage, and the renter’s living conditions and stable housing are in the hands of the landlord. Both parties depend on each other. It’s important that trust and open communication are present.
Rent increases are a normal part of renting. Sure, they can sometimes take you by surprise, but at the end of the day, rental markets and maintenance costs change and rent often follows suit. The vast majority of the time, rent increases reflect increased demand within the rental market, but when a rent increase takes you by surprise or seems excessive, there’s a couple important things to know.
Understanding your legal rights and the laws behind rent increases can help you if you ever find yourself in an unfair situation surrounding a rent increase.
The common-known rule of renting is that you shouldn’t spend more than 30% of your income on rent. However, in places such as Sydney and Melbourne, that can be particularly difficult to stick to. Luckily, some simple frugal tips can help you reduce your current renting costs.
The average Australian consumes 200 litres of water per day - the highest average of any country in the world. So, as water restrictions come in place for the first time in over a decade, take a look at these simple ways you can save water (and your wallet!).
Subletting is a common practice by renters but can lead to disputes and costs. This article will take you through the do’s and don’ts of subletting to ensure things run as smooth as possible.
Renting in a sharehouse has its fair share of obstacles, but setting some rules at the start of your tenancy can ensure that everyone pulls their weight and helps everyone get along!
One of the great upsides of renting is that it provides a much larger degree of freedom than owning. However, it can feel difficult to personalise your rental and make it feel like a home. Luckily, there’s plenty of ways you can personalise your space, but it’s important to understand what changes you can make and how to negotiate them with your landlord or agent.
An overwhelming 64% of Australian households have a pet, yet only 25% of listed properties are advertised as pet friendly, meaning there’s a good chance that your proposed lease will include a no-pets clause.
The Australian rental market has never been bigger, but the threat of rent rises or eviction is still a real concern for many renters, making it hard for many renters to call their rental “home”.
Talk presented by Justin Butterworth, Founder & CEO of Snug.com on 25 Feb 2019 in Melbourne at the CPRC Conference: A Renters Journey
In Australia, housing is central to our economy and society. As a result, our future well-being as individuals and as a community, depends on good housing outcomes. However, home ownership has been elevated as the Great Australian Dream into our psyche, and many picture this dream of a brick home with a picket fence, a hills hoist and a barbecue. The realisation of this Great Australian Dream has consumed the nation. Yet here we are in 2019, a wealthy nation with massive housing stress coursing through our society - housing indebtedness, negative equity, homelessness, rental stress and housing instability and insecurity are prevalent throughout the market.
For many, home ownership is the goal, and the benefits of renting are glossed over in the pursuit of ownership. However, this shouldn’t be the case. In a world where we celebrate leasing rather than buying services (E.g Netflix, Spotify, etc.), why don’t we think the same of the world’s oldest subscription service - renting.
This article will go through some reasons why renting might be better than home-ownership and how to still invest in the property market without necessarily having to put up the amount that home-ownership would require.
Working remotely as a property manager has never been easier, with online solutions covering most parts of the rental process. However, there are some important steps to take to ensure that your property makes its way into good hands in the first place, and that things run smoothly when you’re on the other side of the state or the other side of the world.
Moving can often be stressful, however, starting to plan your move in advance can make all the difference, and ensure that move-day runs as smooth as possible. This article will outline the steps you should take for a stress-free move.
It’s all too easy to get caught up in the emotion of finding a new rental property, and forget to look over and think about basic requirements of a good rental property. Snug has developed a list of things to think about when looking at a property, so that you find a property that not only looks great, but is also practical and meets your needs. 1. Location When considering a suburb/area to look at, make sure to think through the area’s accessibility to various important places.
Whether it’s your first time renting, or your tenth, understanding the ins and outs of the rental process can help you stand out from your competition, secure your dream rental and ensure you get your bond back at the end of the lease. This article will outline some key tips to bear in mind throughout most stages of the rental process, to make sure you get the most out of your rental property.
A few simple but important steps can ensure you get your precious bond cash back.
Bonds are typically cash security deposits held to motivate tenants to uphold the terms of the rental agreement. In most Australian States, bonds must be lodged with the rental bond authority.
Bond claims are generally limited to: rental arrears, damage beyond wear and tear and usage charges such as water (where permitted).
Whether your preparing to find a new tenant over the New Year, or have a long term tenant, it’s important to prepare your rental property for the Australian summer. Having a well-maintained property can increase your chances of attracting or retaining good tenants, and can save money in maintenance costs down the road.
In Australia, people under the age of 35 account for more than 60% of all renters. As a result, it is important to understand the needs and wants of millennials, so that your property can best stand out against the competition.
Vacancy can have the biggest impact on property returns.
In this article, we share tips on how you can minimise your vacancy rates and lease faster when your renter gives notice.
Whether you’re a tenant or owner, it’s worth understanding how fixed-term and month-to-month leases differ, and what works best for you.
Ongoing leases are also called month-to-month leases or rolling leases.
Both types of leases are valid agreements for renters and property managers to enter-into. They both facilitate the tenancy but have important differences around notice, rent increases and duration.
Snug calls on Australian State Governments to harmonise residential rental leases nationally to simplify renting for renters and owners, enable ease of compliance and encourage innovation in housing. In this article, Snug lists 17 key lease terms that should be standardised and introduces the concept of Home Leases which provides progressive homeowner benefits. Before the rental reforms are legislated, let’s rethink rental reform and get it right for both renters, owners and agents.
In Australia’s perennially competitive rental property landscape, the chances of securing a good property– let alone one that meets all your requirements– may seem impossible.
Rapidly rising rents and the start of “rental bidding” further complicate the picture. Big changes to available rental properties during the holiday season and the start of the year can lead to rapid changes in the market.
One of the biggest lessons learned as a property manager is that it’s significantly less costly to maintain a lessee than it is to find a brand-new one. The only exception to this policy is when you need to terminate a tenancy due to an interruption in rent payments. Yet when it comes to your best tenants, they deserve keeping.
Snug announces a new category of living called ‘homevesting’. We’re redesigning the housing system to better suit the emerging lifestyle, work and retirement trends of the next generation. Even in this modern age where it seems accessibility and optionality abounds, across the country people worry about their housing. Our mission is to create a place everyone calls home with ‘home leases’ and ‘collective investment’. We call it ‘home vesting’ so you can live where you love and invest where it matters.
Today we are excited to announce Snug Match. Snug Match streamlines rental applications to help lease feaster and more importantly attempts to solve the fundamental market problem of mismatching between renters and owners thereby encouraging longer and more sustainable rental relationships. Streamlined and progressive applications To start we’ve consolidated several online and offline applications into one easy to use solution. It saves agents and owners time and money. We’ve also reduced the time it takes renters to get started, and ask just for the information required to progress the application.
Bond guarantees are a better solution to existing cash rental bonds. Sign the petition to bring real rental reform to Victoria. Bond guarantees benefit renters and owners: Keeps cash in the pockets of renters Faster and fairer claims with the option of a tribunal if parties don’t agree Fast and easy to apply and issue BondCover as well as update housemate details Maintains tenancy rights and obligations, protecting renters and owners Snug developed BondCover after comprehensive research involving hundreds of renters, owners and agents as well as analysis of millions of bond records which showed the very large majority of renters do the right thing.
Bond guarantees are a better solution to existing cash rental bonds. Bond guarantees benefit renters and owners: Keeps cash in the pockets of renters Faster and fairer claims with the option of a tribunal if parties don’t agree Fast and easy to apply and issue BondCover as well as update housemate details Maintains tenancy rights and obligations, protecting renters and owners Snug developed BondCover after comprehensive research involving hundreds of renters, owners and agents as well as analysis of millions of bond records which showed the very large majority of renters do the right thing.
Renting can be a stressful and confusing experience if you’re unaware of your own rights and your obligations. Rental rights often differ between states so it’s important to make sure you know which rules apply to your state or territory. Your regional Fair Trading website is the best resource to help you figure this out.
In many parts of the world, it is more common to rent than own. For some, renting can be stressful when issues arise because after all, renting is about where you call home.
Here are four common areas that can create rental stress and tips on how to avoid them:
There is a lot to learn about rental bonds in Australia. Understanding the process and costs for lodging a bond, and claiming a bond refund is important to ensure you receive your bond back.
You should check with your local rental bond authority before agreeing and transferring a rental bond between a tenant and owner.
In some rental markets there can be strong competition for rental properties so being prepared can help you secure your ideal home.
Generally property managers ask themselves three questions