With vacancy rates at record lows and rental prices continuing to climb across Australia and New Zealand, finding an affordable place to live is tougher than ever. Whether you’re trying to stay close to work, schools, or your support network, the pressure to secure a rental within your budget can feel overwhelming.

But there are still ways to take control, even in a challenging market. Here’s how to make smart decisions about your rental situation – whether you’re looking for a new home or managing a rent increase where you are now.

Start with your budget

Before you even start scrolling through listings, it’s important to get clear on your numbers. That means working out exactly how much you’re earning and spending each month, and how much you can realistically afford to put towards rent.

A good rule of thumb is to keep rent below 30% of your income, but in today’s market, many renters are stretching that figure. Consider setting two limits: an ideal rent and a maximum “stretch” amount – something slightly higher that still keeps your finances stable, just in case the perfect place comes up.

Look beyond rent

Affordability isn’t just about the rent amount, it’s about the full picture. Factor in commuting costs, utility bills, internet, and even groceries in the local area. A home with slightly higher rent might still be more cost-effective overall if it means lower transport or energy costs.

Likewise, think about your lifestyle. Would a smaller place in a better location suit your needs more than a bigger home further out? Are you open to sharing with housemates to split costs? These questions are key in tight markets like the ones we’re seeing in 2025.

Stay informed and proactive

If you’re currently renting and facing a rent increase, take a moment to research comparable properties nearby. Look at what similar homes are listed for and get a sense of how your current rent stacks up.

Landlords and property managers do consider market trends, but they also value good tenants. If you’ve been reliable, paid on time, and looked after the property, that’s worth highlighting in a conversation about rent. You might be able to negotiate a smaller increase, or delay it altogether.

Negotiate where you can

Increased rent often comes alongside rising living costs, so it pays to review your regular expenses. Look into better deals on the internet, phone plans, insurance, and energy providers. Even small changes can add up to meaningful savings over time.

Many companies offer discounts for long-term customers or better rates for switching, so don’t be afraid to make a few phone calls or compare offers online.

Feeling the pressure of rising rent? You’re not alone. The market is tough, but understanding your budget, knowing your worth as a tenant, and being open to small changes can help you stay on track – and even find a place that works better for you.

Need help navigating your options or want to chat about what’s currently available in your area? Reach out. As your local property manager, we’re here to support renters just like you through every market cycle.