Did you know that 32% of households in Australia consist of tenants? That number has grown year-on-year, making renting one of the fastest growing real estate trends, especially for younger people.
If you think about housing affordability, large deposits, and a cultural shift favouring lifestyle and alternative investments, it’s no real surprise to see the rise in renting.
Unfortunately, for those looking to rent, the result has meant a more competitive rental market. Those who have tried and failed to successfully rent the property at the top of their list say it’s no surprise if 50 others are at the same inspection.
This has meant that it’s never been more important to stand out during the rental application process.
So, if you’re clutching the first month’s rent, the bond, and your references, our Clayton property management team has listed 6 ways to give yourself the best chance to boost your rental application and stand out at the top of the list:
1. Attend the open for inspection
Book a time with the agent for the listing or arrive at the advertised time (if not 5 minutes earlier) to make the most of the open for inspection. This is important, as you must inspect a property before applying. If you cannot attend, ask the property manager if the landlord accepts an inspection of a family member or friend on your behalf.
2. Correctly complete your rental application
First and foremost, fully complete your rental application. Answer all the questions correctly, check for spelling and ensure all your answers make sense. Also, if you are over the age of 18, all parties who would live in the property are required to fill out a separate application. This is as everyone over the age of 18 living in the property needs to be on the lease.
3. Supply 100 Points of ID
100 points of ID are required for your application. The point system is on the application form and includes supplying documentation such as; a driver’s licence, passport, birth certificate, utility bill, proof of age card (keypass) and Medicare card. If you have recently arrived in Australia, provide your VISA grant as part of your application.
4. Accurately provide proof of income
When sending through the application, provide 2-3 recent payslips (if you have just started a new job, your employment contract will be acceptable) and your latest bank statement (last 3 months). If you have multiple accounts or any separate savings accounts, please provide the statement of these to show any savings you may have, as these will help the landlord when assessing your application over others. Also, if you have your own business, attach bank statements, most recent tax returns, BAS or P&L from your accountant.
5. Be upfront about your rental history
It’s important for your agent and landlord to understand your rental history. Ensure that your current agents’ details are on the form, so they can be contacted for a reference. You can also attach a routine inspection report or tenant ledger to your application for the landlord to understand your rental history. If you are a student and living on campus, your campus manager is a fantastic reference. Just be aware, they may need you to fill out a privacy statement before the agent can obtain a reference from them. Having these details already provided saves time in processing your application.
6. Have your employment references ready
Ensure that you have the right contact details on your rental application and that your references have been informed, so it does not surprise them when called by the agent. It is also important that the reference on your application is a person in management or the owner of the business and not a colleague or friend.
If you are looking to rent in Clayton or surrounds, please click here to find a suitable property - https://www.fncjxre.com.au/renting/rental-listings.php
If you have found a property to rent in Clayton with First National Clayton JXRE, click here to access our tenant forms online and begin your application - https://www.fncjxre.com.au/renting/tenant-forms.php
Our Clayton property management team wishes you the best of luck in boosting your rental application and standing out at the top of the list. If you have any questions you can contact our real estate agency, First National Clayton JXRE on 9543 7088 or visit our office at 272 Clayton Road, Clayton VIC 3168.