According to the Australian Bureau of Statistics (ABS), the number of Australian home-owners is on the decline, making the rental market more and more competitive. Although this may be the case, there are a number of steps you can take to help secure yourself a rental property. Below are Ray White Rye’s 4 best tips:
It is common for people to scope out the rental market online before they view a property in person. If you see a property you like online, it is best to contact the agent and book in an inspection as soon as possible. The rental market can have an extremely fast turn over, so the sooner you can view and apply, the better!
OUR TIP: If you can no longer attend your inspection, make sure you notify the agent (even if it is an open for inspection). Not showing up to an appointment without any warning may inhibit your ability to reschedule.
When applying for a rental property, all agents will require you to submit an application form that is accompanied with copies of your identification and proof of income. Before handing your application into an agent, double-check that you have filled in ALL sections of the application form correctly and provided all appropriate documentation. If an agent has to chase you for information, it could mean you miss out on a property.
OUR TIP: remember that property managers are ALWAYS busy. The easier you can make it for them, the quicker they can process your application (bonus points if you can bring a pre-filled application to any property inspections).
Below is a list of relevant documents you should include with any application:
The references you provide can give the vote of confidence your future agent and landlord needs to approve your application. Your references must be able to speak to your character and communicate it effectively to the property manager. It is important to note whether the application is asking for a “professional” or “personal” reference, and to provide an appropriate reference accordingly. You should also make sure that you do not provide the same reference twice. For example, if you have listed your boss’ contact details under the “current employment” section of the application form, DO NOT then list the same persons details under “professional reference”. Instead, you should include an alternative superior or colleague.
OUR TIP: you should inform all people you include as a reference on your application and let them know that a real estate agent will be in contact. It makes the application process a lot quicker and easier!
Things run smoothly when there is an open line of communication. When you attend a property inspection be sure to introduce yourself to the property manager and ask any questions you have about the property. If you are unsure on how to complete any sections on an application, ask for assistance before choosing to submit it incomplete or incorrectly.
OUR TIP: Follow up with the property manager a few days after to your inspection to see how your application is processing. Besides the fact that it will highlight your interest in the property, it will also help familiarise the property manager with you and your application.