06 May Tips for a winning rental application
THE Gladstone Region rental market is unforgiving right now.
Our residential vacancy rate is sitting at 1.2%, the second-lowest it has been since September 2012.
Property Managers are receiving an increasingly high number of applications for rental properties as soon as they hit the market.
Elders Real Estate’s General Manager Mary Carlyon said, “under the $300 per week price point is very, very competitive in Gladstone at the moment”.
“We often have 20 people to book in to inspect a property at the same time,” she said.
To assist landlords in choosing the most suitable tenant for their property, Property Managers will narrow the applications down to the strongest two to three that meet all the essential criteria.
This includes the applications ability to pay the rent, their ability to look after the property, and the future tenant’s ability to communicate when something is not right with the property.
Ms Carlyon said incomplete applications is the biggest rental application mistake that Elders is seeing.
“It is really important to supply ID and evidence of income, or how rent payments are going to be made,” she said.
“Look at your application, or have a friend look at it. Is there evidence to support your application? For example, if you have very limited rental history, think about what you have done to care for a property.
“Have you house sat, or cared for a neighbour’s lawn? If so, ask these people to be personal referees for your application.”
In such a competitive market, having your bond, first month’s rent and a list of perfect references isn’t enough though, Ms Carlyon said renters needed to act quickly.
“As soon as a property is listed, drive by and see if the location and yard is suitable for you,” she said.
“If it is, register your interest in the property online immediately after that, and call the agency to arrange an inspection if they have not gotten back to you.
“Have all your paperwork and information handy so there is no delay in getting your application in.”
How to make your rental application a winning one
1) Provide current contact information for three references – personal, professional, and previous rental history.
2) Provide 100 points of identification – Driver’s Licence/ Proof of Age Card, Medicare Card, Utilities Bill (telephone, internet, electricity, car registration etc.), Bank Statement or Birth Certificate.
3) Show evidence of income – your two most recent payslips, your recent Centrelink Income Statement, or your Bank Statements/ Group Certificates if you are self-employed.
4) Write a cover letter – most landlords don’t require a cover letter but preparing one can set you apart from other applications and increase your chances or securing a rental.
5) Inspect properties – be on time, be presentable and pleasant at inspections.
6) If you are applying with more than one person ensure all applications are submitted together.
7) Follow up – if you’ve submitted an application and you haven’t heard anything 48 hours later, send a follow-up email to the property manager.