How to pay your rent

You’re in the market for a new home, but you’re unsure where to start.

What can you afford?

Are you renting a home you can afford?

And if you can’t afford it, how can you possibly get it?

That’s the challenge facing many people renting in Australia.

A survey by real estate firm AFR Research last month found more than 50 per cent of Australians had no idea where they would get their next home.

The number of people struggling to afford their rent rose from 12.7 million to 13.3 million, with the number of those renting in Sydney and Melbourne topping the list with nearly one in five households.

There are more than 1.1 million households renting from the rental sector, according to data from the Australian Capital Territory.

AFR found about 80 per cent were in Sydney, where the average rent is $1,903 per week.

About half of those who are renting live in a three-bedroom home, while the rest live in houses worth up to $4,000.

What is rent?

Rent is what you pay to live in the property you own.

The amount you pay varies depending on the area and your income.

For example, a five-bedroom house in Melbourne with a three bedroom can cost you between $1.2 million and $1 million, depending on how well you can keep the place.

What about mortgages?

Mortgage interest is a fixed fee that covers the cost of your home.

It’s typically paid on a fixed term.

If you don’t have enough money to pay the interest, the bank will hold the property until you can find a better deal.

What happens if I can’t find a good deal?

You could apply for a rent supplement if your income is low enough to qualify for a mortgage.

However, it’s unlikely that a supplement will be available for those who have less than $25,000 in savings, AFR’s figures showed.

What if I don’t know where to look?

You can also find a rental supplement online.

For more information, go to the Australian Government website.

What do I need to do?

Find out more about the rent supplement and how you can apply for one.

You can apply online using the Rent Supplement calculator by clicking here.

The supplement is for a property of less than four bedrooms and one bathroom.

It is paid by the tenant and will last until the landlord has paid back the full amount.

It does not cover utilities, like electricity, water or gas, and is only payable once the property is sold.

If your mortgage is at a lower rate, you could apply to the state or territory government for a reduced supplement.

To apply, go online to the State or Territory Government website to find out more.

How much does it cost?

The cost of a rent subsidy is based on your rent and your monthly income.

You’ll need to include any interest you would normally pay on the mortgage to cover the rent and the rent supplements.

If the rent has gone up and you are paying less than your rent supplement, the landlord will also need to pay back the deposit and the rental supplement, depending where you live.

If there are two people living together, the rent you’re paying will be divided equally between them.

Rent supplements for a two-bedroom apartment: $900.00 monthly Rent supplement for a three or four bedroom home: $2,900.88 monthly Rent subsidy for a four-bedroom unit: $4.88 million Rent supplement is paid in monthly instalments, not monthly payments.

The payment will be calculated on the first payment date, so it won’t be available when you buy your home, and can’t be paid out at the end of the lease.

Rent supplement will only be available to the first couple and can only be applied to two people.

It can be applied towards rent for the first year, but if you don, you can always apply for another rent supplement.

If one person pays rent, the other will receive the payment in instalment payments.

Rent assistance for a person on low income: $550.00 A single person who makes under $60,000 a year can apply to a rent assistance grant, which will cover rent for a year, plus two months’ rent supplement for those on low incomes.

The grant will be paid to the person on a monthly basis and cannot be used to pay a mortgage or a deposit.

You may also be eligible for rent assistance for family members, provided you meet certain requirements.

The Grant can only apply to one person and only for the next 12 months.

How long do the grants last?

The grants last for 18 months and can be renewed for another 18 months.

Find out how much you’ll be paying for a rental subsidy.

How to apply?

To apply for the rent subsidy, go through the AFR website.

If an application is approved, the amount will be applied automatically to the rent of the property within a specified period.

If no application