Is this normal practice??

I am looking at rental properties and this estate agent is asking for 4 weeks rent as bond (pretty normal) PLUS 4 weeks rent in advance!!!! I have NEVER heard of this. In total this equates to mearly $3000 on the place we are looking at.

I want to cry already... i haven't even seen the property. How are we meant to afford this!!!?!?!?! My parents have offered to pay the bond on a new place for us and we will give them the money back when we get our old bond back but how the hell am I meant to come up with another $1500 when I start maternity leave next week!!?!?!?!?! :wall:

Why is this all happening now!!?!!?!? :cry:

wow ive never heard of that before only ever two weeks in advance!!

We rented at two places and both times we had to come up with 1 months rent + bond

As far as I am aware its common practice, been a few years now since I rented but my brother and SIL had to pay same last year.

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We rented at two places and both times we had to come up with 1 months rent + bond

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OMG really???? :o
I was prepared (in my head anyway) for 4 weeks(bond) and 2 weeks in advance... but not 4!! This property is through the same real estate we have now.

Sunshine I'm so sorry to say this but that's been standard for all the rentals I had before we bought... one month's rent + bond.

I feel your pain about finances - DH and I are living hand to mouth at the moment and my line of thought is often "How am I going to come up with X dollars to pay Y expense?"

:hug:

It will all come together!!

When we rented the place we are in now it was 4 weeks bond and 2 weeks in advance...a couple of other estate agents i've been looking at are still this... hwo the hell do they expect people to come up with $3k within a week!!?!?!?!?!?!?!?!?!?!?!?!?!?! Especially when they take so Bl***y long refunding bonds already around here?!?!?!?! :angry:

I guess it depends on how the rent is payed (fortnightly, monthly etc) Both places we rented we had to pay bond and first month's rent upfront and rent was paid monthly.

yeh thats standard in victoria.
u pay ur bond and a month in advance so when u leave that last month in theory goes towards the next rental if u move

Yeah, I think it depends on the owners/land lord/real estate agent. Its not common here, but sometimes they do ask 3 - 4 weeks in advance.
Furnished places often ask for 6 weeks for the bond as well as the 2 weeks in advance, so thats 8 weeks worth all up as well.

hun if its through the same r/e they can transfer ur bond from the old place to the new one.
This just happened to a friend of mine and was the only reason they could go for a new house because they werent able to come up with the bond and a months rent in advance.
i dont know if they publicly advetise being able to do it, but maybe ask if they can?

yep i think that is common. when we rentedout our place we charged a bond and then to pay up to the payment date (1st of month) so it worked out 3 weeks in advance...
but i thinkt he norm is bond and then1 month in advance (as you generally pay the rent for th emonth in advance)

My sister was telling about this in Sydney. Apparently it is getting more common because there is so much demand and competition.

Ok i checked with teneacy tribunral and it is correct. I'm P****ed off because it wasn'te forced last time around and this time they are enforcing it. I don't have that money! I'm sitting here now haivng a minor meltdown and crying trying to work out what i'm going to do now. I finish work in 2 days to go on unpaid maternity leave. I didn't factor into my budgeting moving house and having to pay this much!!!

(sorry i'm whinging, i know there are ppl worse off than i am I totally get that) I just don't know what we are going to do and it's stressing and freaking me out now.

Can't your real estate transfer the bond from your exisitng property to the new one?

First off babe - don't apologise for having a whinge - its awfully suckful what you are going through right now - and you shouldn't apologise to us!

I hadn't heard of it either -and it makes it so hard to come up with that kind of money - guess they just want people to go and buy their own property.

:hug:

(Ps. Bet tassie is lookin kinda good at the moment ay? ;))

We had to do the same, it depends on different real estates as some only take 2 weeks rent and some 4 weeks rent, I think the reason being is cause the landlord wants the rent paid monthly in advance. We pay fortnightly but a month's worth of rent has to be paid by the 1st of every month. :wall:

I'd ask about transferring the bond too. We've done it before. & maybe pay some extra rent now & get ahead & ask them to put that towards the next place too?

we've always had to pay the bond (equal to 4 weeks rent) and then pay the actual rent.. which is 4 weeks in advance. what i hate is t hat you need ot have that money ready if your application is approved, even if you still have to give 2 weeks notice to your current landlord.