A rental market that has limited availability of properties and a larger number of prospective tenants can create a level of competition that means that you may not be approved for the first or even subsequent rental properties. To combat this, we have put together some tips on what property managers will look for when assessing your application to ensure that you are well-prepared.
Have all required documents ready
Similar to a job interview, it is important to be prepared to apply for the property in advance of inspecting and putting forward your application. One mistake that applicants can make is not providing all documents with the application which can mean that your application will not be assessed at the same rate as those who have provided all their information.
Collate all ID documents, payslips, proof of address and rental history in advance and have it ready to apply and submit as soon as you have inspected the property and determined that you would like to put forward an application.
Check your rental history
If you have a recent rental ledger, this helps to submit your application as well as the details of your current property manager or landlord. Before you begin the search for a new home, carry out a health check on your rental history including looking at your rental ledger.
When assessing your applications, a property manager will look at the rent paid, and the paid-to dates and check for a history of late payments. Even a few days late consistently can impact your rental history and chance of being at the top of the list so it is important to ensure that your rent is paid on time.
The property management team will also speak with your current property manager or landlord to check on your rental history and if you have only been in the property for a short period of time, they may check past references to confirm the history.
Employment and personal references
Before submitting an application, ensure that you have advised your work and personal references that you have put their names forward to provide information on your work or their relationship with you.
Your work references will be assessed including the length of time in the role, the income per year to assess rental affordability and information on your employment while personal references may be called for verbal reference.
Stand out from the crowd
On the day of the inspection, introduce yourself to the property management team, ask any questions that you may have and look through the property thoroughly. Submit your application as soon as the inspection is finalised using the details provided and the team can begin processing your application as soon as they have it.
If you have any questions about our available properties or would like to be included in our database to hear about properties before they come to the market, contact our property management team today.