Five ways to make your rental application stand out
Perth’s red hot rental market means there has never been a more competitive time to secure a tenancy – so it’s important your application stands out to give you the best chance of success.
CoreLogic’s latest quarterly rental review, released this week, shows Perth recorded Australia’s second highest gross rental yield at 4.33%, with Darwin the topping the list at 6.17%.
The report shows that despite rents in Perth edging up just 0.3% in the September quarter, they have surged a staggering 14.5% in the past year. And with the vacancy rate now at 0.9%, prices for rental properties are expected to continue to rise for the foreseeable future.
With that in mind, here’s some tips to help you win the rental property you want.
- First impressions matter
First and foremost, making time to attend an inspection and introducing yourself to the agent could set you ahead of the pack, especially if you make a good first impression. This basic interaction will help put a face to your application and could put you in pole position when the agent is shortlisting applicants.
- Get it right
As the old adage goes, honesty is the best policy so it’s important your application is correct, truthful and as thorough as possible. Provide as much detail about your finances and employment as you can so the landlord and property manager can assess whether you’re a solid candidate who can comfortably pay the rent and meet your other financial responsibilities as well. It’s also a good idea to include supporting documentation, such as a letter from your employer detailing your work status and pay slips as evidence of your income.
- Rental history and references
A strong rental history and glowing references will show those considering your application that you might just be the right person to win the lease. As well as providing contact details for referees, it is also worth attaching hard copy, written references to save time for those reviewing the applications.
- Get creative
You may like to think about ways to make your application as eye-catching as possible. If you’re a creative type, you might consider presenting a video to compliment your paper application. Or perhaps you could offer to pay two or three months rent upfront? Anything you can do to put your best foot forward or show some one-upmanship might help you win the lease.
If you have a furry friend you’re also looking to accommodate, it is a good idea to have a pet resume prepared so the landlord and property manager can have a better understanding of your pet, its personality, nature and needs. Pet references from anyone who has previously lived with the animal may be useful too. You may have greater success in securing a home for your pet if you offer to pay a higher rent, above the standard pet bond. This might make the owner feel more comfortable in case the property incurs some damage because of the pet.
If Mont can assist with any part of your property journey, please feel free to contact us.