Finding a rental property can feel a lot like dating.
Initially, it’s exciting; the possibilities are endless, emotions are high, and it’s practically impossible to predict the outcome.
Until months and multiple knockbacks later, when you realise you’re up against a harsh marketplace of hundreds of people all wanting the same thing – to find ‘the one’, ditch the process and retire the never-ending cycle of disappointment. ASAP.
The rental experience is tough when the competition is high, and that’s certainly the case in South West Sydney’s fierce rental market – where open homes are currently teeming with hopeful tenants in search of their property soulmate.
So how do you stand out from the crowd and increase the odds of getting approved? Through our top five tips below.
1. Provide everything required.
It’s simple – don’t submit an incomplete application! While the tendency may be to think they don’t need to know that…, this is a risky assumption that’s likely to throw your application on the back-burner. Every question is vital for the leasing agent to properly assess you as a potential tenant, so it’s important not to skimp out on any information. With 60% of rental applications incomplete on average, by submitting a complete application, you’ll have already cut down the competition and have yours hitting the top of the pile.
2. Put a face to the name.
Or even better, a smile! Don’t underestimate the power of adding a photo or ‘personal touch’ in a cover letter; faces are memorable and will make your paperwork easy to distinguish from the rest. The same applies to open homes – by introducing yourself to the leasing agent on site, you’re guaranteed to leave a lasting impression.
3. Prove you can (actually) pay the rent.
Even the best tenants in the world can fall behind on rent, so reliability is not something that leasing agents can easily determine without knowing your specific situation. If you’ve found the rental of your dreams and want to make a convincing case of how reliable you are to the agent, of course submit all of the payslips, bank statements and proof of employment required – but you can take it one step further by offering to pay a few months’ rent in advance, or offering a higher rent amount in more competitive situations.
4. Have quality references.
Rental references are ‘votes’ of confidence in the form of a written declaration, usually from people you know on a personal, professional, educational or prior rental basis.
Typically, references from real estate agents or property managers carry more weight than personal references, but of course these aren’t possible if you’re a first-time renter. References from co-workers, employers, neighbours or TAFE/university tutors will all add credibility to your application and are all good options in this instance. If you have rented before, be sure to request a rental ledger from your previous agent and include this with your supporting documents.
5. Build a relationship with the agent.
If you have a question or concern when going to apply, simply ask! Honestly is always the best policy, so call up the leasing agent and ask for feedback. If you feel that your rental history is not up to scratch, you’ll be in for a better chance by getting on the front foot and speaking directly with them about what steps you’re taking to improve your situation. Chances are it will move your application forward – and if you don’t get this property, the agent will be more likely to consider you for the next after knowing your personal situation.
If you haven’t heard back about your rental application in a couple of days, be sure to follow up with the leasing agent. They may just be deciding between you and another candidate, so it will be an opportunity to support any information you’ve provided with a friendly chat – and to show how keen on the property you really are!
Prudential Real Estate Campbelltown | (02) 4628 0033 | firstname.lastname@example.org
Prudential Real Estate Liverpool | (02) 9822 5999 | email@example.com
Prudential Real Estate Macquarie Fields | (02) 9605 5333 | firstname.lastname@example.org
Prudential Real Estate Narellan | (02) 4624 4400 | email@example.com