Renting Guide: How to Find a Rental Property
Searching online is both the most frequent and convenient approach to locating a available home for rent.
You can search within particular price ranges and suburbs and view available rental houses from a number of different real estate firms. Utilizing search tools via mobile applications makes the procedure even more convenient.
You have the possibility, inside each search, to define the number of bedrooms, bathrooms, and parking places, as well as the style of property – for example, a home, apartment, or townhouse – and to search for particular keywords such as “balcony,” “garden,” or “art deco.”
After that, you have the option of making direct contact with real estate agents in order to schedule property inspections.
It is also possible to visit the office or website of a particular real estate firm in order to learn more about the rental homes that that company is currently offering.
The search for a rental property, the inspection, and the application are all pretty much the same. However, the sort of rental property right for you is a decision you can only make. Searching online is both the most frequent and convenient approach to locating a available home for rent. If money is a concern, renting an apartment can be a better option for you. A comprehensive view of the market may be obtained by doing a rental search on the internet.
Despite this, they will only be able to provide you with information on the properties that their agency handles. In addition, a significant number of real estate agents also market available rental properties by placing a sign in each property’s yard or front yard.
Should you rent a house or an apartment?
It doesn’t matter if you’re looking for an apartment or a home; the search for a rental property, the inspection, and the application are all pretty much the same. However, the sort of rental property that’s right for you is a decision that the individual can only make.
In general, the square footage of a home is more than that of an apartment, but the monthly rent for a house is often higher. It may also be more expensive to heat a home in the winter and to cool a home in the summer.
On the other side, certain apartment complexes come with a fitness centre, a swimming pool, and a building manager who takes care of the building’s routine upkeep, which makes renting an apartment more desirable.
It’s conceivable that apartments are safer than houses, and some of them even have garages with locks. Because you and your neighbours will most likely share walls and a roof, the lack of privacy in an apartment may be a concern for you because of the potential for increased noise levels.
If money is a concern, renting an apartment can be a better option for you, especially if you’re looking for a place to live in a popular neighbourhood.
One further thing to think about is the availability of outdoor space. The majority of apartments will only have a balcony rather than a backyard, so this is something to keep in mind. Also, if you rent a property, it’s possible that you’ll be responsible for maintaining the lawn and any gardens that come with it.
How do you know if a rental property is a good value?
A comprehensive view of the market may be obtained by doing a rental search on the internet. Then, users can simply evaluate the many sorts of homes currently available on the market and the rates they should anticipate paying.
You may check the historical rental history of a home using the Home Price Guide on Domain to get an idea of how much the rent has grown over the years. If the rent has increased dramatically in a short period of time without any modifications since then – for example, increasing $100 per week over the course of a year – the price may be overinflated.
How to inspect a rental property before applying
Before making the decision to apply for the rental unit and subsequently sign the lease, potential tenants are required and urged to do a property inspection.
It’s possible that a property has designated inspection times that are listed on the website. Alternately, the property manager or real estate agent will contact those individuals who have expressed interest in the home to inform them whether or not a time has been set aside for them to see the property.
In most cases, the real estate agent will provide a certain 15- or 30-minute block of time for these inspections. However, it is possible that you may first need to register for an evaluation on the website in advance.
Real estate brokers may, in some circumstances, grant potential renters the opportunity to do a private walkthrough of a rental home at a time that is convenient for them. You may find out if this alternative is possible by getting in touch with the real estate agent in charge of the property’s lease arrangements.
When going to an inspection of a property, it is in your best interest to be there early. However, several other parties are interested in viewing the property; therefore, your time spent there may be restricted.
You also recommend that you keep the indicated move-in date in mind, even if this date does not work for your particular circumstances. For example, you could enquire with the real estate agent as to whether or not there is opportunity for negotiation on this particular day.
For those exploring property development, a consultation with a seasoned property advisor can guide you through the intricacies of planning, maximizing returns, and minimizing risks.
Should you hire a renter’s agent or broker?
In contrast to other countries, it is not particularly popular for people in Australia to employ the services of a renter’s agent or broker to find a suitable rental home on their behalf. These services are frequently offered under terms such as “rental source,” “renters’ advocate,” or “relocation service,” but they are generally sold to individuals who are moving to a new city from another location and do not have the time to hunt for a home in person.
Rental inspection checklist
When checking out a rental, it’s a good idea to compile a list of items that should be looked at on a check list. These may include the following:
- Parking: Is it available, and if so, what are the dimensions of the garage or parking space? Is there a place where a motorcycle or bicycle might be parked?
- Which areas of the house does the heating and air conditioning service? Which fuel type does it run on: gas or electricity? Is the building equipped with insulation?
- What direction do the windows face, and at what time of day does the light come through the windows the best?
- Which household appliances are provided in the kitchen, and which ones will you need to bring with you? Is there sufficient room for benches, as well as storage?
- Can you take a bath in the bathroom, or is there simply a shower? How many individual bathrooms are there in total?
- The outdoor area: Is there a place where we may rest or have guests over outside? Is it protected from the elements or open air?
- Does the home come fully furnished, or would you be responsible for bringing all of your own furnishings with you? For example, if you already have a table, can you use it, or do you need to get new furniture?
- Condition – Has the property been given enough upkeep? Is it possible that you’ll have to put in a maintenance request with the landlord?
How to apply for a rental property
After you have located a rental home that appeals to you, you will have to put down a deposit in order to secure the property.
In most cases, this entails filling out a form and supplying the property management or landlord with as much specifics as they need.
When you have chosen a place that interests you, it is in your best interest to submit an application as soon as possible and offer as much information as possible. This will give you the greatest possibility of getting accepted.
On rental applications, what do real estate brokers look for?
It’s important to be prepared for a competitive application process while looking for a rental property, especially if there are other people interested in the same piece of land.
The application will often need potential tenants to give the following information, which includes but is not limited to:
- Identification is required, and managers of rental properties might consider doing criminal history checks.
- History as a renter Landlords often give preference to tenants who have a demonstrated track record of paying rent on time and taking care of a property. Potential tenants should have a history of renting successfully.
- Employment is important for landlords to consider since they want to make sure their renters are able to pay their rent on time.
- References: Property managers are permitted to get in touch with referees, such as former managing agents, employers, or someone who can vouch for their reputation.
Be sure that every question on the application is answered to the best of your ability. According to reports from real estate brokers, up to 30 percent of applicants leave data off their applications, which is frequently the deciding factor in whether or not an application is accepted.
In order to demonstrate that you are able to pay your rent, it is essential that you supply as much financial facts as possible. Paycheck stubs, bank statements, an up-to-date job contract, or a letter from your company that specifies your pay are all examples of proof that can be used to demonstrate that you get a regular income.
If you are applying with other individuals, it is in the property manager’s best interest for you to submit all of your information at the same time. This will make the application process much easier for them.
If you have ever leased a place before, you should ask the prior property manager for a rental ledger. This document is a comprehensive record of all the payments you’ve ever made towards the rent. In addition, you can provide evidence that you have been a responsible renter in the past by including the rental register in your application.
Six pointers towards a successful rental application
Have you had a previous application for a rental property rejected as well? Come and be a part of it. We surveyed landlords and property managers around the country to find out what qualities they seek in a renter to assist you in successfully filling out your next rental application.
Complete the application
It ought to go without saying, but it’s imperative that you fill out a rental application in its full from beginning to end.
According to estimates provided by Dion Verzeletti, director of Ray White Thornleigh, his office receives around 30 percent of rental applications that are missing important information.
It is a competitive market, and property managers do not have the time to follow up with applicants for missed information, so make sure that all of your documentation is accounted for and properly described from the beginning of the application process.
Completing the application puts you in a strong position for finding a rental home that suits your needs.
Provide as many financial details as possible
Applicants who have been continuously working at one employment for at least two years are typically given preference by property managers.
Stephanie Barbanti, the business development manager at Stockdale & Leggo Epping, recommends that those who are self-employed or jobless provide the information of their accountant, a bank statement demonstrating savings, or references from a previous employer.
“Providing individuals who are now jobless with an explanation as to why would be of assistance. For example, you may have recently been made redundant from your current employment, be in between contracts or positions, have sold a business and are taking some time off, or sold a business and are taking some time off,” explains Verzeletti.
Also, check that the properties you’re applying for are within your price range before doing so. Property managers are always on the lookout for renters whose monthly obligations won’t consume more than 35% of their gross income.
Update your social media accounts
A highly intelligent property manager would constantly check potential renters out on social media in order to authenticate the facts they have collected.
Property managers need to go above and beyond the standard means of analysing an application, according to Honor Borg, managing director at C-Vue Property Group. This is because an applicant will always put the positive things on their application and leave the negative things off of their application. This is due to the fact that the potential employee will constantly try to market themselves. When reviewing an application, property managers should look beyond the standard tools at their disposal and consider alternative methods instead.
Imagine for a second if the information that is included on your rental application is different from what is found on your social media networks. This would be a problem, right? (such as your place of employment). If this happens, it has the potential to plant some serious concerns in people’s thoughts, so you need to be sure that all of your information is correct.
Be a responsible pet owner
Find out whether this is the case before you apply for a rental unit. Some landlords may categorically refuse to allow tenants to have dogs in their homes due to previous negative experiences.
“Renters are required to be aware of the duties they have. “Most landlords have had terrible experiences with non-paying renters, animal damage concerns, and smoke seeping through the property,” says Karen Phillip, a landlord in New South Wales who owns many rental properties.
Be honest about your predicament if you’re one of the many people who can’t bear to part with their much-loved cat or dog. Verzeletti suggests that you provide a reference for your pet as well as a photo of your animal companion in your application. Despite the fact that it might be tempting to lie about owning a pet, doing so could jeopardise your relationship with the property management, which would make it even more difficult for you to rent in the future.
Stick to procedure
Insinuating that you have something to hide by giving a large sum of money up front or requesting that the property management not contact your previous agent would immediately arouse suspicions. This would be the case whether you asked the property management to not get in touch with your previous agent or if you gave the money up front.
Robert Riddell, the property investment manager at Response Real Estate Riverstone, says that when someone has problems gathering their supporting documents, begins telling us negative stories about where they are living at the time, or just does not connect with us while we are presenting the property, this is an immediate red flag. These behaviours, taken together, should raise red flags about a potential issue. All of these behaviours are examples of actions that you should take notice of since they could put you in harm’s way.
Ask for feedback
If your application is denied, do not be afraid to contact the property management and inquire about receiving feedback on what you may have done differently to enhance your chances of being accepted in the future.
According to Borg, “I will always try my best to provide input wherever I can.”
How to apply for a rental property as a first-time tenant if you’ve never leased before
Don’t let the fact that you don’t have a rental history prevent you from joining the market; it’s something that all potential renter will confront at some point in their lives.
Persons in this situation must offer as much financial information as is reasonably feasible and references, such as their present or prior jobs.
If a tenant with no past can provide sufficient documentation to back their claim that they are able to pay rent, the vast majority of landlords and tenants will have no problem renting to them.
Renters have the ability to appoint a “guarantor,” sometimes known as a rental guarantee, in the majority of states in the United States. A person or institution, such as a member of the renter’s family or employer, who promises to be accountable for the renter’s debt in the event that the renter is unable to pay is known as a guarantor.
In addition to having a guarantor, a bond may also be necessary in certain circumstances, which is governed by the legislation that are in existence in the different states. If the rent is less than $350 per week or the tenancy agreement specifies that the tenant is renting the landlord’s primary residence and the landlord will resume living there at the end of the tenancy, for example, a landlord or agent in the state of Victoria is not permitted to request a guarantee in addition to a bond from a tenant. This is the case even if the rent is more than $350 per week. At the conclusion of the lease, the landlord is obligated to restore the rental unit to the state in which it was initially found in either of these scenarios.
It could be difficult for those with irregular work schedules, students, or low incomes and people who own pets to obtain a rental unit, but it’s not impossible.
If you’re a casual worker, here’s how to apply for a rental property
Property managers and landlords will want to see the following documents from you if you are a temporary worker who does not get a regular pay that guarantees a solid income:
- Your most recent tax return, which details your annual profits, together with bank statements that demonstrate recent income from easy job
- A letter from your job confirming your income and your character is required.
- A rental ledger that provides evidence of prior payments made to the landlord
Your application may also benefit from your naming a guarantor, such as a parent or other relative who is willing to take responsibility for the rent payments in the event that you are unable to do so.
If you’re a student, here’s how to apply for a rental property
It is illegal for a landlord to refuse to rent a property to someone because of their age. With that in mind, there’s no reason why being a student should prevent you from renting a home as long as you can afford it.
To demonstrate their capacity to pay rent, students must submit proof of income, such as paystubs from a part-time employment or papers confirming Youth Allowance or Rent Assistance payments.
How to apply for a rental property if you’re a low-income earner
When a person uses a rental property, real estate brokers and landlords search for proof of a person’s ability to pay rent on time and on schedule. Allowances from Centrelink that offer a regular income and payslips from recent jobs for low-income earners may be included.
Property managers frequently reject applications because the property is out of the applicant’s pricing range. If your rent is more over 30% of your household income, look for houses in a more cheap region or look into alternate living choices like warehousing.
Other affordable housing schemes, such as the National Rental Affordability Scheme (NRAS), allows persons with low to moderate incomes to rent properties for at least 20% less than market rent.
Low-income earners can apply for social housing, which is short- and long-term rental housing owned and operated by the government or non-profit organisations. Priority is given to persons who require assistance due to homelessness or other dire conditions.
If you’ve been blacklisted, here’s how to apply for a rental property
Several “blacklists,” sometimes known as tenancy databases, exist in Australia and record “bad renters” as reported by real estate brokers and landlords. Private firms maintain these databases, and both agents and the general public must join or pay a fee to access them.
You will already be aware of this if you are on a blacklist. Tenants must be informed by real estate brokers and landlords so that they can contest the listing. Furthermore, an agent must tell a potential renter if they are found on a database when applying for a home.
When tenants apply for a property, the agent must also inform them of the databases they intend to examine.
The requirements for being placed on a blacklist vary from state to state, but in general, you need to have committed a major lease violation such as:
- Having a rent debt that is greater than the whole amount of the bond
- causing significant damage to a rental property
- Endangering neighbours’ safety
- Causing another individual to suffer from bodily damage.
- Using a property that is rented for unethical or unlawful activities.
- Without the owner’s permission, subletting a rental property
Even if you are on a blacklist, there is still a chance that your application will be accepted even if you submit it. This may occur, for instance, if the landlord or real estate agent didn’t check the right database, or if they weren’t willing to investigate further than the listing provided. If you are currently on a blacklist and have plans to apply for a rental property in the near future, it is in your best interest to be forthright about your status and give an explanation if it is within your power to do so. This will maximise the likelihood that you will be approved for the property.
A person’s name can remain on a blacklist for a maximum of three years in each and every state and territory.
If your rent is more over 30% of your household income, look for houses in a cheap region. If you’ve been blacklisted, here’s how to apply for a rental property. Several “blacklists” exist in Australia and record “bad renters”. A person’s name can remain on a blacklist for a maximum of three years in each and every state and territory.