Joel Davis,
Strategic Director at Image Property.
How to present the best rental application
[lwptoc]By Joel Davis, Image Property
With the current rental vacancy rate sitting about 1.7 per cent in Brisbane and just 0.4 per cent on the Sunshine Coast, the market is very competitive for renters at present.
There is no doubt that, as a renter, you need to put your best foot forward in order to be selected as the tenant of choice by a landlord.
A good way to gauge how many renters you will be competing against for a property will be how many you see at the open-for-inspection.
This will give you a sense of how many others are in your budget range, in your suburb, as well as looking for the same size home as you.
So, how can you turn your rental application into your secret weapon that presents a compelling case for selection as the future tenant?
Here are three rolled-gold tips that will help you make your case.
1. A renter’s resume
Just like a job application, a rental application is supposed to highlight all the reasons why you would be a good choice.
In your resume, outline your accommodation history, including if you paid rent to your parents in the final years spent living at home (support with documentation if you can) as well as your employment.
Introduce yourself and give a brief outline of who you are as a person, any hobbies that you have, and interests that might reflect well on you to a prospective landlord.
Your resume is a summary of all the information that you have included in your application package, such as financial documentation, employment details, and proof of ID.
2. Financial records and documentation
Make sure you have clear documentation that outlines very simply what your income is, what your outgoings are, and what financial commitments you have.
This means collating all recent bank statements, pay slips, and any other documentation into one, clearly labelled folder that you can give to the property manager on the day, or in a virtual folder that you can email easily.
Collate all this in digital format and have it ready to hand over on the day.
The property manager will be looking to rent the property quickly, so having all the information readily available with be a big tick in your favour.
3. Proof of reliability
The landlord is looking for someone who will look after their property as though it were their own.
A property manager also wants a tenant who does not require undue levels of attention – and remember they probably have dozens of properties in their portfolio to manage.
This means they want someone with a track record of reliability.
You should provide detailed records of regular rental payments, records of loan payments, and any other evidence that testifies to financial reliability.
Any volunteer activity should be recorded in your application, with someone to attest to your commitment.
A reference from your employer or direct manager at work can also weigh the odds in your favour.
Make sure you include phone numbers so that the property manager can verify written testimonies.
