Essential Guide for Expats Renting on the Gold Coast: Key Considerations

Moving to the Gold Coast as an expat brings exciting opportunities but also challenges, especially when it comes to finding the right rental home. The rental market here has its own quirks, and understanding what to expect can save you time, money, and stress. This guide covers everything you need to know about renting on the Gold Coast, focusing on the choice between furnished and unfurnished properties, typical rent costs, what expenses to budget for, and warning signs to watch out for.

Furnished apartment with ocean view on the Gold Coast

Furnished vs Unfurnished Rentals on the Gold Coast

One of the first decisions expats face is whether to rent a furnished or unfurnished property. Each option has pros and cons, and the availability of furnished rentals is quite limited on the Gold Coast.

Furnished Rentals

Furnished rentals come with essential furniture and appliances, such as beds, sofas, tables, and occasionally kitchenware, and sometimes linens. This option suits expats who want to avoid the hassle and cost of buying and moving furniture.

Key points about furnished rentals:

• Limited supply: The Gold Coast rental market has far fewer furnished properties compared to unfurnished ones. This scarcity means higher competition and often higher rent.

• Higher rent: Furnished properties typically cost 10-20% more than unfurnished ones, reflecting the convenience and included items.

• Shorter leases: Many furnished rentals offer flexible lease terms, ideal for temporary stays or trial periods.

• Condition and style: Furnished homes vary widely in quality and style. Always inspect the property to ensure the furniture meets your needs.

  
  

Unfurnished Rentals

Unfurnished properties are the norm on the Gold Coast. They usually include basic fixtures like kitchen cupboards, dishwasher & ovens, and sometimes window coverings, but no furniture or washing machine or dryer. However, there is an exception to this where some apartments supply a dryer.

What to expect with unfurnished rentals:

• More options: You will find a wider range of properties and locations.

• Lower rent: Generally, rent is lower than furnished homes, making it more affordable for long-term stays.

• Longer leases: Standard leases are usually 6 or 12 months, providing stability.

• Upfront costs: You will need to invest in furniture and appliances, which can be costly initially.

  
  

Rent Costs and Income Ratios

Understanding rent prices and how they relate to your income is crucial for budgeting.

Typical Rent Prices - are advertised as weekly

• One-bedroom apartments: Around AUD 500 to AUD 700 per week, depending on location and quality.

• Two-bedroom units: Usually between AUD 550 and AUD 1200 per week.

• Houses: Larger homes with three or more bedrooms can range from AUD 750 to over AUD 1,800 per week, although the higher end could be in the thousands.

  
  

Income to Rent Ratio

A common guideline is to allocate 30% to 35% of your gross weekly income on rent. For example, if your weekly income is AUD 2,100, aim for rent around AUD 700 or less per week.

Many expats find that rent on the Gold Coast can take a larger share of income, especially for furnished rentals or properties close to the beach and city center. Planning your budget carefully will help avoid financial strain.

What Is Included in Rent and What You Need to Budget For

Rent on the Gold Coast usually covers the property itself but excludes many utilities and services. Here’s what you should expect:

Typically Included in Rent

• Property maintenance: Repairs and upkeep of the building.

• Council rates: Usually paid by the landlord.

• Water usage: Often charged separately, but some landlords include water usage in rent.

  
  

Expenses You Must Budget For

• Water bills: If not included, expect to pay around AUD 30 to AUD 60 per month.

• Electricity: Costs vary by usage but average AUD 100 to AUD 150 per month.

• Internet: Plans start at AUD 60 per month for basic broadband.

• Contents insurance: Protects your belongings, especially important for furnished rentals. Costs vary but expect around AUD 20 to AUD 40 monthly.

• Gas: If the property uses gas for cooking or heating, budget accordingly.

• Grounds: Lawn maintenance and pool running costs if applicable to your rental

  
  
  
  

Red Flags to Watch Out For When Renting

The rental market can attract scams and unfair practices. Be alert to these warning signs:

• Rent too good to be true: Extremely low rent compared to similar properties is suspicious.

• Requests for money without inspection: Never pay rent or bond before seeing the property in person or via a trusted video tour.

• No inspection required: Legitimate landlords or agents will want to show the property.

• Pressure to pay upfront: Standard practice is to pay a bond (usually four weeks’ rent) plus two weeks’ rent in advance after signing the lease, not before.

• Unlicensed agents or private landlords without proper documentation: Always verify credentials.

  
  

Upfront Costs Explained

When renting on the Gold Coast, expect to pay several upfront costs before moving in:

• Bond: Usually four weeks’ rent, held by the Residential Tenancies Authority (RTA) as security.

• Rent in advance: Minimum two weeks’ rent, sometimes more depending on the lease.

• Application fees: These are illegal in Queensland, so do not pay any.

• Moving costs: Budget for removalists or transport if bringing furniture.

  
  

Tips for Expats to Navigate Renting Smoothly

• Start your search early: The market moves fast, especially for furnished places.

• Use reputable real estate agents: They can guide you through legal requirements and paperwork.

• Inspect properties thoroughly: Check for damages, appliances, and safety features.

• Understand your lease: Read all terms carefully, including break lease conditions.

• Budget for extras: Utilities, insurance, and unexpected repairs.

• Keep records: Document all communications and payments.