5 Tips on Getting that Rental Property You Want
Recently we are seeing a number of tenants out on the rental market searching for their next "home sweet home".
Reasons vary from:
- Need to expand - due to family members coming from overseas or newborn on the way;
- Downsizing from large homes to something more manageable;
- Rent increase is just too much for the budget;
- Work relocation or needing to be closer to work; and
- The common one... owner is looking to sell (which may be triggered by an increase in interest rates and a dynamic property market).
Whatever your reason, here are 5 tips to assist you in getting the property you want!
Notify your current agent - sounds simple but most people do not do this. When you apply for a property online, you will be asked to enter your current agent's name, email and contact details. This should then trigger a rental reference request to the named agent. Giving your agent a "heads up" may ensure your agent is aware and completes the rental reference in a timely manner. If on Monday, you are competing with 5-7 other applicants and you have no rental reference... when other applicants do, well your chances of securing that property may be slim.
By the way, it also doesn't hurt to notify your work reference too, they are more likely to give you a positive reference, if they are expecting our calls.
Go to the Open Inspection - unless you are overseas or interstate - go to the open inspection. Real estate agents don't conduct open inspections for fun! Some agency's may give preference to those who attend the open inspections.
Also, how will you know if your furniture will fit properly or if you will even like the place if you don't inspect it. If you are genuinely interested in a property - give it the time it deserves and attend the open inspection.
Arrive On Time & Don't Come In Your PJs - yes, we have had a few prospective tenants come to open inspections in what is very obviously... their PJs and once even with matching bunny slippers!
We understand some people work night shift and I do appreciate people making the effort to attend, but unfortunately, we are all human and first impressions do count. You don't have to dress up in a suit, but make an effort to look...well okay.
Also come on-time or call in advance, if you are running late. Most agents will have multiple back to back opens on Saturday and are on a tight schedule. So rocking up 2 minutes before the open finishes and expecting to stay for 10 minutes may not be...well appreciated!
Have a conversation with the agent, they are human beings and interested to know what your situation is... connect with them - this might just be the "differentiator" that helps you secure your next home.
Side-note – We understand, if the whole family couldn’t attend an open inspection at the same time.. so you might want to take a video to show your loved ones that you found your next “home sweet home”. Always ask for permission first! If the property is empty, the agent might say YES but if the property still has current tenants or owners possessions in it, the answer is likely to be NO. Taking videos without permission is a big NO NO in our books and in my personal opinion – rude!
Love it – Apply NOW - if you love a property post inspection, then apply now or apply over the weekend. Too many times, we receive calls from prospective tenants who attended the open inspection then waits till mid week to apply…then they are upset with us because the property is “gone already”! Unfortunately, in this property market – the early bird catches the worm or in our case – the home!
Documents Ready to Go – If you have attended a few opens inspection and applied for a few properties, then you would have a pretty good idea of what information is needed when you apply for a property, such as:
· 100 points of ID – such as, passport or driver's license + utilities bills or medicare card or bank statements etc – have them all ready. If you are recently new to the country, then a Working VISA showing you are allowed to work in the country.
· Rental Reference – refer to Notify your current agent + ask them for a rent ledger that you can upload as well. If you have lived in your current property for under 2 years, then complete on the application, the previous agent details, reference and rent ledger. If you owned your own home – show evidence of ownership, such as council rates, water bill or title documents etc..
· Financials –
o this is usually x 3 consecutive payslips (not one from last week, then 6 months ago and one year ago etc).
o If you are self - employed upload a statement from your accountant or some evidence your feel comfortable to share that you have the compacity to pay the rent comfortably.
o If you are yet to start a new job – share your offer of employment
· Other Documents – if there are other documents that you believe can assist you with your application, include them. Better to offer more info then less.
· Everyone Apply.. - If someone in the household is over the age of 18 and is likely to contribute towards rent – then they should apply. Having a high combined income can only work in your favour. Also if you want your son/daughter (18+) to one day move out and secure their own rental property - having them on the lease agreement can kick started their rental history and journey.
Side Note - Tell Us YOUR Story – why do you believe this property is right for you. Sometimes we get “I work full time” or “ I was given 90 days notice” the end! We look for people that genuinely love the property!
Yes, you need to financial capable to pay the rent and have a glowing rental reference and rent ledger but remember some rental properties were once the landlord’s “home sweet home” with cherished memories and they want to make sure the home is not only just “well-maintained” but loved as well!
Agents want to lease the property to you – they may also have a large number applications to process, so they are not likely to chase you for missing information! So to give yourself the best change of securing that gorgeous home – follow the above tips and make sure you and your application stand out from the crowd!
Good luck and happy house hunting! 😊
*Disclaimer: The views and opinions expressed in this communication are solely those of the author and do not necessarily reflect the official policy or position of any affiliated organizations or entities. The information provided is for general informational purposes only and is not intended as professional advice. No representation is made about the accuracy, completeness, or reliability of the information contained herein. The author accepts no responsibility or liability for any actions taken based on the information provided. Any reliance you place on such information is strictly at your own risk.