How much does it cost to rent a house in Australia?

Intrigued about how much it would cost to rent a house in Australia? Every detail you need to know is explained right here. These include the price range of rental prices in Australia and other unavoidable expenses you will make as time goes on.

Asides from the normal cost of house rent, there are major significant costs you will have to make. These may be before you pay for the main rent or even after. Some of these expenses include:

The Rent Application Fee

The rent application payment is the money paid to obtain an application form for the apartment you wish to acquire. This is part of the expenses incurred before paying for the main rent. However, the rent application fee is optional in most parts of Australia. This is because most citizens do not agree to pay and prefer to come to other terms of agreement with the property owners. Meanwhile, the rent application fee (based on the type of property and its location) is always between 50 – and 100 dollars.

Security Fee

This inclusively adds up to make the price range of rental prices in Australia. It is a fixed amount by the property owner. The purpose of the fee is to serve as a form of security (financially) to the manager or owner of the property. It is paid at the beginning of the “tenancy agreement” as a ransom, should there be a case of damage to property by the tenant. It also covers skipped rent payments. Your security fee is not fixed. However, it is determined based on the kind and size of property you are renting, and it is never up to your four weeks’ rent.

Occupant’s Insurance  

Most property managers demand an occupant insurance fee, adding up to the price range of rental prices in Australia. This fee does not go into the landlord’s pocket; instead, it ensures all your belongings in the property or apartment. If there is a burglary or natural disaster, you might lose your belongings if this insurance isn’t in place. Getting an occupant’s insurance in Australia can cost between 300 – and 450 dollars a year.

Aside from the costs of settling in, packing your stuff and buying things you would need at home, those are the important costs you should know. 

Meanwhile, the price range of rental prices in Australia generally varies based on the location/area of the unit, apartment or house you want to rent. The table beneath explains the cost of rent in different areas in Australia. Analysed in Elite areas and regional areas (where things could be cheaper compared to the centre of the city).

The cost of the rent plus the total sum of other costs that you will make will efficiently give you a budget you can work with.