A tighter rental market can often mean that there is more competition when you are looking for your new home. This can sometimes lead to stress around the application process, and you may find that you are applying for several properties.
There are a few things that you can do to ensure that you have a great rental application, that will help the Property Manager in the approval process with the Owner.
Submit the correct identification
All applications will ask that you submit 100 points of identification and will usually provide you with a list of acceptable IDs and the point weighting of each. You will be asked for primary and secondary IDs, so having these ready is the first step in ensuring you are submitting the required documentation.
Examples of primary ID would include a driver’s licence, passport, and proof of age card while secondary ID might include a birth certificate, bank statement, utility bills, car registration, Medicare card or health care card.
Provide pay slips
You will need to provide at least 3 recent payslips showing your income over the previous weeks or months to show affordability. One mistake that applicants make is not providing enough payslips, which can lead to delays in processing the application.
The Property Manager will look at this information to work out if the rent is affordable, based on your income and provide this ratio to the Owner.
If you are self-employed, it is important to include a statement from your accountant or bank statements showing income and proof that you can afford the rental that you are applying for.
Show rental history
If you have been renting through an agent, provide a copy of the rental ledger and the details of your current property manager so that they can be contacted to verify your details and provide a reference for your tenure at your current home.
If you are renting privately, your current landlord could provide a letter and details so that they can be contacted to provide a reference.
For homeowners who are entering the rental market, providing proof of ownership of your current home and an explanation of why you are looking to rent will ensure that your application is processed faster.
Provide a cover letter
A cover letter included with your application can assist with putting your application ahead of others who may also be applying, providing information about you and your rental history.
In cases where you have pets include a photo of the pets and their details. This can help in processing the application and presenting it to an Owner for approval.