by Pauline

Created on: March 03, 2009   Last Updated: May 09, 2012

For the past couple of years, looking for an apartment in Sydney, particularly in the metropolitan area, has been an absolute nightmare. Go to any apartment inspection and you'll see dozens of people like you struggling to find an affordable yet comfortable living space. Competition has been very stiff, leading to exorbitantly high prices. On the average, a one-bedroom apartment in the city would set you back by AU$400 to AU$450 per week. However, lower interest rates and the Australian government's improved first home owner grant will surely help ease Sydney's tight rental apartment space. If you're looking for an apartment in the Sydney, here are a few basic tips:

(1) Checkout apartment listings over the Internet and real estate offices. Domain, realestate.com.au and homehound are just examples of excellent websites with extensive listings for apartments for every suburb in Sydney. Filter on the post code or suburb you are interested in and the websites will give you several apartments for rent. The listings also include the real estate agent, contact details and inspection times. Go to the offices of real estate agencies in the area. Listings are usually posted on their windows and you could ask for application forms which you could fill out prior to coming to the inspection.

(2) Bring extra cash to inspections for deposit payments. During an apartment inspection, some real estate agents are willing to accept reservation or deposit payments from prospective renters. If you are keen on getting the apartment you're inspecting, approach the agent and ask if a deposit could be given. The agent will not accept any other applicants unless the depositor's application has been rejected. Don't forget to bring photocopies of acceptable id's during the inspection. Among the acceptable id's are Australian driver's license, passport, recent bank statements, payslips and credit cards.

(3) Explore surrounding suburb options. If the rent prices for units in the city are a bit out of your price range, try looking for apartments in neighbouring suburbs such as Ashfield, Burwood and Lidcombe in the inner West. Prices tend to be cheaper around these areas and the commute towards the city is not that long.

(4) Read the fine print. In signing leases for apartments, always read the contract thoroughly. Leases typically last for three to six months, and could be extended so long as the landlord agrees to it. Don't be afraid to ask questions to your real estate agent. Confirm whether power, gas and water are included in the weekly rent. Renters are also required to pay a bond equivalent to around six week's rent, which would be returned once the unit has been vacated. It is also important to keep your landlord happy. Always make sure that your rent is paid at least two weeks in advance. Some real estate agencies look for referrals from previous landlords, so it is important to maintain a healthy tenant-landlord relationship.

(5) Be patient. Don't settle for just any apartment that is available. Find one that suits your needs and lifestyle. Somewhere in Sydney, your dream apartment is waiting for you. Just be patient and beat the competition.

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