7 Top Tips to Secure a Rental Property

If you feel like the competition to rent a home is heating up and it is becoming increasingly harder to secure a rental property these days, you are absolutely right.

More and more people are being forced to rent for longer, thanks to increasing house prices, resulting in an overall shortage of supply in most areas so landlords can afford to be more picky in terms of the tenants that they choose.

Young people are now often opting to live at home for longer or move into share houses because they cant break into the rental market due to increased demand and landlords asking for more rent to secure their properties.

Here are a few of my top tips to stand out and give yourself the best possible chance at securing your next rental property.

1. WRITE A COVER LETTER

You write a cover letter to let a potential employer know a little bit more about you and why you’re right for the job, so apply that logic when applying for a rental.

Be sure to include information about your current living situation, your motive for applying for the home, your employment/study and what your goals and aspirations are.

I have also seen applicants include photos of themselves, their kids and/or their pets which was a fantastic touch that really helped them to stand out and it showed that they cared.

As much information as you can provide will help the agent and landlord paint a picture of you in their minds and feel more connected to your application.

2. SPEAK TO THE AGENT

Introducing yourself to the agent in person and having a friendly chat is a great way to build rapport and make yourself memorable. People like to deal with nice people in general and they are much more likely to speak warmly of you to the landlord if you have made an effort with the agent.

3. DRESS NEATLY

First impressions go a long way and if you attend open for inspections in your track pants and moccasins, looking (and smelling) like you had one too many glasses of red the night before, the agent is likely to relay that information to the owner when discussing your application.

When you look after yourself it gives the impression that you will look after the property and that presentation is important to you.

4. BE ORGANISED

This is probably the most important step. Before even attending an open home, it is so important to ensure that you have all of the information that you need on hand so that you can make a quick decision and submit your application straight away.

You will need;

• 100 points of ID (licence, passport, payslips, bank cards, student cards, a utility bill. etc.)
• Contact details for your rental reference, employment reference and often a professional reference (let them know that you have listed them before the agent calls so that they are prepared for the call)
• 2 payslips to confirm your income and employment
• Bond - 1 calendar month worth of rent
• Up to 1 calendar month worth of rent as an advance rental payment

As I mentioned, the market can be so competitive and if the agent has to wait even a few days for your application, it could already be too late. Try to submit your application immediately post-inspection to give yourself the best possible chance.

5. CHECK YOUR OWN RENTAL REFERENCE

What most people don't know is that they can actually phone their agent and ask for their rental reference, while the particular agency might not provide that to you in writing, they should be able to give you a general outline of the information that will be provided to the next agent.

Agents will check;

• How much rent was paid and if the rent was paid on time
• If any breach notices were served throughout the tenancy
• How you may have been to deal with as a tenant
• How the property was maintained and if there was any damage
• If the bond was or is likely to get refunded

If it is your first time renting or you don't have a rental reference for any reason, it might be worth getting a guarantor to come on to the lease as a bit of security for the landlord. A guarantor is somebody that does have a rental reference or perhaps a parent or friend that owns a home that is happy to apply with you and share the liability of the tenancy. After 12 or so months, you will have your own rental reference and it should be possible to remove the guarantor from the lease. Speak to the agent to see if a guarantor would be a worthwhile addition to your application.

6. BE PREPARED TO OFFER MORE OR A LONGER LEASE TERM

Although I believe that legislation is about to be introduced to stop this, it is not uncommon for tenants to offer an increased weekly rent amount or a longer lease term in order to bump their application to the top of the list. This is particularly effective when there is a lot of interest and several quality applications on hand.

Remember, the owner of the property is an investor and generally is looking for the best possible rental return on the home, so a slightly higher rent per week or longer lease term might be the difference between securing the property or attending more open homes next weekend.

7. BE TRANSPARENT

If, if your desperate search for a rental property, you embellish a few details or fail to mention that you have a pet and the agent notices when they are checking your references, it can be an instant turn off and you are unlikely to get the property. Agents and Landlords are looking for a tenant that they can trust and that will be open with them so it is so important not to get off on the wrong foot.

The agent will appreciate if there are any details of your application that you think might be a potential hurdle, if you address them in your cover letter or in person and help them to understand the situation better or from your perspective.

Have any questions? Call or email us today for more information.