Knowing how to present a strong rental application is crucial when looking for a new home. In 2022 an unprecedented demand for rental homes drove Brisbane’s residential vacancy rate to as low as 0.06%, which was the lowest level in more than 20 years. As a result, there has never been more competition when looking for homes to rent. Suzana Wade of Locate Property runs one the most successful Property Management firms in Brisbane and offers her top 5 tips to get approved as a tenant in 2023.
1) Before you begin your search, get the first few essential items ready. Assemble all necessary documents, such as payslips, references, tenant ledger, and photo identification. The application process will go more smoothly if everything is ready and included. It will also show that you are very interested in the property. If you can cut down on the time that property managers have to spend processing your application, you’ll move to the top of the list.
2) You’d be surprised at how far good manners can get you, so be punctual and courteous. Make sure you make yourself known to the agent by going above and beyond to stand out from the crowd. Arrive at the property five minutes early to see it because the majority of agents have appointments back-to-back, and by turning up late, I’ll miss the inspection or the agent has already spoken to numerous groups before you.
3) Ask questions about the property to demonstrate your interest. This is a wonderful opportunity. Introduce yourself so that the agent and the landlord can put a face to the name in order to differentiate yourself from the other applicants.
4) Do you have a pet dog or cat? pet? Include a bio or pet resume on the animal as a wonderful way to individualize the pet and support your application to ensure acceptance. Include a description of the animal and a photo of it. Just as important as your own conduct is that of your pet from the previous residence.
5) Are you a new renter? Gaining entry into a competitive rental market can be crucial to success. To gain the trust of the agent, think about providing a 6-month lease. This is a fantastic first step in proving your ability to be a great tenant and your dedication to a long-term partnership with the agency. Make a unique offer as an alternative to persuade the agent to accept your application. If you are still struggling to get approved, consider, renting a room in a share house to start building up the required rental history.
If your adult children are currently residing with you, think about including them in your current lease. When the time comes for them to leave the nest, they will have an advantage because they will already have built their own rental history.
A great source of information and tips also come directly from the REIQ. For other great tips in 2023 follow Suzana Wade at locate.net.au/blog