Perhaps one of the most common questions asked of a property manager is:
“How do I make my application look better?”
This can be tricky to answer, as even good applicants sometimes miss out, through no fault of their own. Perhaps the better question would be,
“How do I help to make my application process go smoother?”
Many times, we property managers receive applications that do not provide all the information needed, or we are stuck leaving messages for references who do not call back for days. In the meantime, you could miss out on the property.
Applying For A Rental Property
The process of applying for a rental can be daunting for many people, but as long as you are well prepared it doesn’t have to be. If you want to give yourself the best chance in being successful, here are some points to remember:
Required Information & Documentation
Have you provided all the information needed? Make sure you have provided 100 points of ID, accurate details for your property history and proof of income. Without this, what assurance does the owner have that you can pay the required rent? The more detail we can provide the owner on your behalf, the better.
Documents we suggest you can submit:
- At least two of your most recent payslips
- A Centrelink statement
- A recent tax return; or
- Bank statements showing savings.
Financial Considerations
Can you afford the rental you are applying for?
When looking for a property to rent, it is a good idea to look at your finances and work out a budget beforehand. Many landlords and real estate agencies follow the “30% rule” e.g., the cost of housing should not go above 30% total of your income.
If the cost of the rent is 50% of your total income, that is likely to give the owner concern that you will not be able to maintain payment long term. Anywhere between 30 to 40% is typically a comfortable range.
References
Who are your references?
Ensure there are no repeat references listed on your application, as having a range of different contacts will reflect positively on you. Make sure all contacts are aware you have listed them as a reference and will be easily contactable.
Good examples for a personal reference are:
- A work colleague
- Close friend
- Neighbour
- Coach
- If you have pets, you may want to consider providing references for them also, such as their Vet.
Rental History
What does your rental history look like?
This obviously only applies to those who have rented previously or are currently doing so. When we contact your landlord or property manager, if you have ever been in arrears, been reprimanded for a poor routine inspection, or if significant costs for cleaning or damages were deducted from your bond, these will all be red flags to a landlord.
In a tough market, where the smallest detail can make a difference, it is even more imperative to make sure you have good rental references, and the best way to ensure this, is to be a good tenant.
Final Thoughts
Most importantly, be honest! If details on an application do not add up, the property manager will notice, and being caught in a lie is never a good first impression. For more tips, check out our previous blogs on Tips To Help Get Your Application Approved and The Final Stages of Your Rental Application.
Good luck!
