Long Term Rental Properties
Rental properties are usually for a minimum of 6 months on the Sunshine Coast and very hard to find so having as much paperwork as you can is a real must.
The most important is to look and apply to as many agents as possible and as soon as you get here.
The real estate agents will take your application and check that you are potentially a suitable tenant. It is a good idea to have a letter from the agent who sold your property in the UK or from the agent if you rented before leaving.
The agents will check you ID, no worries as you will have your passport and driving licences. They will also make sure that you are able to pay the rent, so you should show them a copy of your bank statement showing your available funds from the UK if you have not set an Australian account up. I would also get a letter of appointment from an employer, if you have a job lined up, stating what wage you will be earning.
They will then arrange for all of the applicants to view the property at the same time, usually about 6 or 8 at a time. After the inspection they will go back to the owner and between them decide which tenant would be most suitable.
This all takes time, so I would apply to as many agents as possible and then keep on bugging them!!!!
If you are accepted, you will be asked to come into the agents office to sign a residential tenancy agreement, given a bond lodgement form, a condition report and an information statement form the Residential Tenancy Authority.
You will also be asked to pay a “bond” which is the first 4 weeks rent and then usually two weeks rent up front. The bond will then be lodged with the Residential Tenancies Authority by the agent within 10 days of receipt.
So I would suggest bringing as much of this information with you, photocopy it about 10 times then go and see everyone. We found that none of the agents got back to us so you really have to keep on at them.
Good luck!!!!!!!
Buying procedures
Sales properties are also usually shown at Open for Inspections and are advertised in the local papers by the Real Estate Agents.
On entering the property you will be asked for your name and contact details by the agent, then shown around the property.
The agent will usually follow up the “OFI” with a telephone call asking what your views were about the property and also if it is what you are looking for?
Many agents are quite pushy, saying that there has been a lot of interest and that you should put in an offer as quickly as possible.
Don’t forget that you have the ideal bargaining power as you will most probably have money in the bank and are cash buyers, so take your time and have a good look at the market.
If you do not have time to trawl around the many agents it is also possible to contact an agent who will find the ideal property for you.
Gazumping!!!
Does not exist in Australia as there are no property chains!!!!!!
The usual procedure would be to sell your existing property, move into a rental property and then buy your new property.This means that no one is dependant on the person at the bottom of the chain to sell their property, as there is no chain.
It is most important to check if you need FIRB approval to buy a property in Australia, this should be checked with a solicitor before you negotiate and sign a contract on a property as it may take some time for the approval to be obtained.
The average contract in Queensland land is settled in 30 to 45 days and you have a cooling off period of 5 working days should you change your mind. You should allow for a building and pest inspection which takes 7 to 10 days and allow 21 to 28 days should you need finance.
So once you have found your ideal property you could be moved in and settled within a few days!!!!! An awful lot less stress than in the UK!!!!!!!
sklinky