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Tips for first time renters

Moving into a rental is a big step. Here’s how you can plan ahead and be prepared to make the experience a positive one.

Know your budget

Taking a few minutes to sort a budget lets you know what you can afford to pay in rent. Don’t forget to include utilities like electricity plus basics such as groceries. Planning a budget makes it easy to crunch the numbers.

Put paying bills on auto pilot

Figure out when your bills are due. Each time you get paid, set aside enough money to cover all your bills in a separate account. Then, arrange to have them debited from that account or pay using BPAY in the mobile app. That way you can have peace of mind your spending account is just for spending.

Consider your transport options

It’s handy to be close to public transport, and living just a few stops from work can see you save on commuting. If you have a car, off-street parking is convenient – and it can lower premiums on your car insurance.

Get sorted for furniture

Buying furniture and appliances for your rental can be a big cash drain. You may be able to go without some items initially. Otherwise, see if any friends or family have some items they no longer want or buy a few pre-loved pieces to tide you over. For big ticket buys, start a savings tracker in our mobile app or check out our low rate credit card^ for the flexibility to buy sooner and pay it back on your terms.

Protect your belongings

Once your place is kitted out, organising contents cover means you won’t be left financially skewered if your belongings are stolen or damaged.

Know your rights

Tenants’ rights and responsibilities vary slightly between states. Here’s where to find out more in your part of Australia:
+ Queensland – Qld State Government
+ New South Wales – Department of Fair Trading
+ ACT – Justice ACT
+ Victoria – Consumer Affairs
+ South Australia – SA State Government
+ Western Australia – Consumer Protection WA
+ Northern Territory – Consumer Affairs NT

Renting can mean taking extra care with your spending so you don’t leave yourself shortchanged.

^ Credit eligibility criteria, terms and conditions, fees and charges apply. The information in this article is general advice only and does not take into account your objectives, financial situation or needs (your "personal circumstances"). Before deciding whether to buy any product you should consider your personal circumstances. You should read and consider the Terms and Conditions when deciding to use any product (terms and conditions, fees and charges may apply). Our product Conditions of Use are available at © A division of Community First Credit Union Limited ABN 80 087 649 938 | AFSL and Australian credit licence 231204.

Last updated: 22 March 2024

The information contained in this article is only correct at the point of time of publication. It is general information and has been prepared without taking into account your personal circumstances, objectives or needs. Please consider if this information is right for you before making a decision to acquire any product.