What Happens After You Get Approved? A Guide to the Final Steps

Getting approved for a rental property in Australia is a major achievement, especially in a competitive market. But what happens after you get approved for a rental can still catch many renters off guard. This guide outlines each step between approval and move-in, so you know exactly what to expect, and how to avoid delays or missed opportunities.

Step 1: You’ll Be Contacted by the Agent

Once you’re approved, the real estate agent will usually call or email to inform you. This means the landlord has selected you as their preferred tenant. However, until you’ve paid the required funds and signed the lease, the property is not officially secured.

In fast-moving markets, delays in responding to this initial offer can result in it being withdrawn. This is why Find My Home always follows up directly with agents and guides you through the acceptance process within hours, not days.

Step 2: Holding Deposit

After approval, the agent will request a holding deposit to take the property off the market. In most cases, this is equal to one week’s rent. This payment shows that you are committed to proceeding and gives you priority for signing the lease.

If you back out after paying the holding deposit without good reason, you may forfeit that money. However, if the owner decides not to proceed or fails to issue a lease, the deposit must be returned to you.

Step 3: Review and Sign the Lease Agreement

Once the holding deposit is received, the agent will issue a formal lease agreement, also known as a residential tenancy agreement. This document will outline:

• Lease term (e.g. 6 or 12 months)

• Weekly rent and payment frequency

• Bond amount and how it’s lodged

• Responsibilities regarding utilities, maintenance, and notice periods

• Any special conditions such as no-pet clauses, smoke alarms, or specific cleaning expectations

You are entitled to a reasonable amount of time to read and understand the lease. Never feel pressured to sign immediately, especially if something doesn’t look right.

LINK How to Understand the Rental Application Process (Step by Step) offers a helpful breakdown of what each section of the agreement usually contains. What Real Estate Agents Look for in a Rental Application (2025 Edition) also highlights how the lease terms reflect your negotiation and application strength.

Find My Home clients benefit from an extra layer of protection here. We carefully review the lease before you sign, clarify any confusing clauses, and liaise with the agent if anything needs adjusting, so you’re not signing blindly.

Step 4: Bond and Rent in Advance

Before you receive the keys, you’ll be asked to pay:

• A bond, usually equal to 4 weeks' rent

• Rent in advance, typically 2 weeks

The bond is lodged with your state or territory’s rental bond authority (e.g. NSW Fair Trading, Victoria’s RTBA, or the RTA in Queensland), and you’ll receive a receipt confirming it.

Make sure all payments are made via traceable methods, such as bank transfer or secure payment portals. Never pay cash unless the agency is reputable and provides receipts on the spot.

Not sure how much to set aside in total? How Much Money Should You Save Before Renting in Australia? breaks down the real upfront costs involved.

Step 5: Condition Report and Key Collection

Once the lease is signed and all payments are made, you’ll either collect the keys in person or arrange to receive them on your move-in date. With this, you’ll be given a condition report, a detailed document describing the state of the property before you move in.

Take your time reviewing the report. Walk through the property, note any damage or marks not listed, and take date-stamped photos of each room. You’ll typically have 5 to 7 days to return the signed report.

This report is crucial, as it protects your bond at the end of your tenancy. Disputes about cleaning, marks, or damage can arise, and your annotated condition report may be the only evidence in your favour.

At Find My Home, we help tenants understand what to look for in a condition report and remind you to submit it on time. This ensures you’re fully protected from the start.

Step 6: Set Up Utilities

Now that your lease is confirmed and your move-in date is locked, it’s time to organise utilities. You’ll usually need to arrange:

• Electricity

• Gas (if applicable)

• Internet/NBN

• Water (in some states, this is billed directly to tenants; in others, it’s covered by the landlord)

You can compare providers online or use the agent’s preferred partner service. However, you’re under no obligation to use their recommendation.

Find My Home clients receive reminders and provider comparisons to help you connect services efficiently without overpaying or waiting too long for activation.

Step 7: Prepare for Move-In

With the administrative side handled, you can begin preparing for the move itself. Key tips:

• Book removalists or hire a vehicle early

• Confirm your move-in date and time with the agent

• Collect keys or arrange for someone to do so

• Double-check that utilities will be active on arrival

Final Thoughts on What Happens After You Get Approved? A Guide to the Final Steps

Being approved for a rental property is a huge milestone, but there are still several steps to complete before you can walk through the door. Each one matters, and even small mistakes can delay your move or create unnecessary stress.

If you’re not sure what comes next or simply want help managing everything smoothly, Find My Home handles the full process from approval through to move-in. From checking your lease to setting up your utilities and even reviewing your condition report, we’re with you every step of the way, making your transition into your new home easier, faster, and safer.