Generally speaking, outside of the inner ring Sydney and Melbourne suburbs, especially those close to universities, it is exceedingly rare for vacancy rates to fall close to zero.
However, with the exodus of people away from our two main cities most affected by COVID-19 lockdowns over the last 15 months to the smaller capitals such as Adelaide, Darwin, and the major regional centres like the Central Coast in NSW, tenants in these markets now face very tight rental markets.
To secure a suitable rental property in markets that are experiencing unusually tight conditions, my advice is to treat a rental inspection just like a job interview.
A polished presentation in-person and online counts
While offering to pay a bit more can secure the right rental, taking a proactive and professional approach to an inspection such as arriving early and in smart casual attire, including polished shoes rather than shorts and thongs, might help you secure a property faster.
As part of your presentation, don't forget your social media footprint could be reviewed. Property Managers might turn online to further investigate your suitability as a tenant so an audit of your online image might help.
Also, do not be afraid to engage the Property Manager in conversation. Being polite and on time won’t hurt your chances either when the property manager is reviewing several tenant applications.
If you’re a first-time tenant, taking mum and dad to the inspection can help, while having them countersign a lease agreement can aid your cause with a Property Manager.
Whether you are a new or experienced tenant, it’s essential you have all the necessary paperwork ready for your property manager. The essential paperwork includes a photo ID, such as a driver’s license or a passport. You will also need your ‘rental ledger’. This document is a record of your payment history for the term of your previous rental agreement period. If you don’t have this information, your previous property manager can provide this record.
Furthermore, contacting your last manager is usually a helpful move, as you can let them know you are applying to rent a new property. It is also a chance to inform your previous manager to expect an email or phone call about your latest rental application.
For more tips for securing a suitable rental property, whether you live in the city or a regional area, contact your local Raine & Horne Property Manager.