Starting a new rental tenancy in Western Australia can be both exciting and daunting. To ensure a smooth transition, it’s crucial to understand the key factors involved.

Financial Considerations

When considering a rental property, it’s essential to set a realistic budget for your monthly rent. Aim to keep your rental costs within 30% of your post-tax income to ensure financial stability.

In addition to the monthly rent, remember to factor in upfront costs such as the security bond, rent in advance, moving costs, and potential pet bonds. These additional expenses can significantly impact your overall rental costs.

Paperwork and Legal Aspects

Before moving into a rental property, you’ll need to complete various paperwork and understand the legal aspects of the tenancy.

Many landlords or property managers require prospective tenants to fill out application forms. These forms typically request personal information such as income, previous rental history, employment details, and references.

In some cases, you may also be required to pay an option fee. This fee grants you the right, but not the obligation, to enter into the lease after your application is approved. Option fees typically range from $50 to $100.

The tenancy agreement is a crucial document that outlines the terms and conditions of your rental. It includes important details such as the property address, names of the landlord and tenant, rental payments, special conditions, and strata by-laws.

Before moving in, conduct a thorough inspection of the property and document any existing issues using a property condition report (PCR). This report will serve as a reference for both you and the landlord at the end of the tenancy.

Rental Increases

As of 29 July 2024, rent increases are limited to once every 12 months for both periodic and fixed-term leases. Landlords must provide 60 days’ notice in writing of any rent increase.

Additional Tips

• Communicate Effectively: Maintain open and regular communication with your landlord or property manager throughout your tenancy.
• Understand Your Rights and Responsibilities: Familiarize yourself with the Residential Tenancies Act to protect your rights and fulfill your obligations as a tenant.
• Seek Professional Advice: If you have any doubts or concerns, don’t hesitate to consult with a legal professional or real estate agent.

By following these guidelines, you can navigate the rental process with confidence and ensure a positive tenancy experience in Western Australia.