It’s a fact, it’s a very tight rental market at the moment often with multiple applications being submitted on the same property. This highlights the importance of preparing your tenancy application promptly and correctly. By doing so you will ensuring that you are giving yourself the best change of securing a property.
Your tenancy application is the main information source that the property manager and lessor will look at to determine if you’re the right tenant for the property. So, it’s important that your application stands out in order to get it approved.
We have put together the following tips to help you secure the property you want:
Completing the Application for Tenancy
Provide All Supporting Documents
All of our tenancy applications are now completed online, this means you can log on and, at your leisure, start to build your tenancy history. If your completed application for the first property is not successful, the online system means your application and information is saved and ready to be put towards the next property that may suit your requirements.
You’ll need the following documents for your rental application:
- Past rental reference contact details (see comments below) email and mobile (2 or more if possible)
- Pet references (if applicable)
- Proof of income (recent payslips, bank statements, tax return) & contact details for verbal confirmation
- Letter of employment (if you’re starting a new job)
- Valid 100 points of ID (passport, citizenship certificate, driver’s licence, Medicare card, utility bills)
- Contact details for personal references, again two or more who are not family members
- Rental ledger (summary of your rental payment history)
The more rental history you can provide will make it easier for the property manager to provide a clear picture of your history to the lessor.
A question we often get asked is “but I haven’t rented for many years as I have been a property owner, what should I do?” In this example we suggest that you either provide the contact details of the sales agent or, if you are keeping the property and renting it out, the property manager who can vouch for how the property has been presented.
Have A Completed Set Of Documentation For All Applicants
All the above documentation will need to be provided for all occupants and/or any housemates that plan to reside at the property. The reason is that the property manager and lessor will need to consider every single person who wishes to rent the property to determine their suitability.
Write A Brief Summary/Covering Letter
Let the property manager and lessor know about you, why you are requiring the property, (is it a job transfer for example), the personality of any pets and any further employment details.
Be sure to highlight why you’d make a great tenant, e.g. you’ll look after the property well, love gardening etc.
Clearly Demonstrate Your Ability To Pay The Rent
It’s very important that you demonstrate to the property manager and lessor that you’ll be able to pay the rent. You can do this by detailing your rental history, your current payslips and bank statements etc.
A property manager has the responsibility of ensuring that the prospective tenant can comfortably afford the rent amount rather than risk falling into rental distress.
Give Your Referees Notice To Expect Contact From Us.
You should let all referees know that you intend to list them on the application form. Whether a previous real estate agent, property manager, lessor, co-worker, employer, former neighbour, TAFE/university tutor or accountant.
Please stress to them the importance of completing the reference request as quickly as possible to ensure that your application is fully processed and ready to submit to the lessor. Any delays may mean other applications are submitted to the owner ahead of yours.
Application Approved
When your rental application is successful, we will send you a text message congratulating you and ask you to call our property management team to schedule an appointment to sign the lease agreement.
We will also run through some key information associated with the terms of the lease. If you have done your research, you will probably already be aware of most of it, however it is important for us to go over these again to ensure you are clear on the terms before you sign the lease.
What We Need to Discuss
- Confirm the rent that you will be paying
- The length of time that the lease covers
- The date the lease commences
- How much money needs to be paid and when it is due
- Confirm the bond amount and payment of first two week’s rent
- Discuss the method of payment
The property will continue to be advertised for lease until you sign your lease and the funds due are paid in full.
Even if the lease does not commence straight away, signing the lease promptly will secure the property for you.
Signing the Lease
The lease signing process takes between 45 minutes to an hour. We run through a few more points and give you the opportunity to ask any further questions you may have. If you are going to be late or need to reschedule, please ring ahead of time to let us know.
Application Declined
If you have not been successful in this instance you will receive a text message letting you know your application was unsuccessful. We will also provide a link to our website to assist you in searching other properties that are available and that may be suitable for you.
We hope this information may assist you in locating that perfect property here in Albany.
Happy house hunting!
