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- What can I do to make sure my application for a rental property ticks all the boxes?
Ensuring your rental application is spot on is very important if you want to secure a suitable rental property. Accurate applications are even more important with international borders starting to open, COVID willing, and international students set to return in droves.
The rental application form demonstrates to the landlord and Property Manager that you are the best contender for the property. You can pay the rent and look after the property in keeping with the tenancy agreement terms. Moreover, your application is reviewed against other applicants, so it is crucial to stand out and tick all the boxes.
For starters, the application must address your income and rental history. This means you’ll need bank statements to prove your income and some references from previous Property Managers demonstrating you will look after the property. The rule of thumb is that the rent shouldn’t be more than 33% of a tenant’s salary or wage when it comes to the income parameters.
Now, if you don’t necessarily have a rental history, don’t fret. For example, if you are selling your home, then a reference from a sales agent selling the property could help. If you’re a first-time tenant, then references from an employer will be helpful. Otherwise, first-timers could seek the support of mum and dad to go guarantor for the rental property. It’s often beneficial for first-time tenants to bring their parents to an inspection to meet the Property Manager.
If a first-time tenant doesn’t have an employer or mum and dad can’t get involved, perhaps a school or university careers adviser could help.
In the situation where a longer-term tenant has a black spot on their rental history, it is usually better to fess up in advance rather than wait for a Property Manager to find the glitch. If a tenant shows more transparency around their rental history, they’ll be more likely to win the approval of the Property Manager and the landlord.
To find out more about writing a winning rental application, talk to your local Raine & Horne Property Manager.