In a competitive market, when you’re looking for a rental property that suits your specific needs, it can be challenging. Whether you’re new to renting or have been through the process before, having a strategic approach can greatly increase your chances of securing the right rental. In this article, we’ll provide you with some tips from our team of property management experts that are easy to understand and implement, helping you navigate the rental market smoothly.
1. Start your search early
One of the biggest pieces of advice when looking for your perfect rental property is to begin your search well in advance. Jaime Pratt, Head of PM at VPM, suggests looking at least 6-8 weeks before your desired move-in date.
“This allows you ample time to research different neighbourhoods, browse listings, and attend inspections without feeling rushed or pressured.”
2. Take advantage of online rental platforms
Years ago, online rental platforms like realestate.com.au, domain.com.au, or rent.com.au simply didn’t exist. These platforms are widely used today and make the property search much easier and less time-consuming.
“They provide a wide range of rental listings with the ability to filter your search based on location, budget, and specific requirements. You can also create notification alerts for new listings that match your criteria,” she says.
3. Be prepared
Landlords and real estate agents require specific documentation to process rental applications. Stay ahead of other potential tenants by preparing essential documents in advance. These include things like proof of identification (eg: passport or driver’s licence), proof of income, rental references and a completed application form.
“Having these documents ready will make the application process so much smoother and faster, Jaime says, “There are online platforms that you can use to complete and send this documentation, too, so check in with one of our property managers for the easiest way to ensure your application is successfully submitted.”
4. Visit property inspections
Attending property inspections is crucial to assess the rental property’s condition and determine if it meets your requirements. It also allows you to get a feel for the layout and the neighbourhood. Jaime suggests being punctual, take notes, and don’t hesitate to ask questions. You can also use your phone to take pictures or videos for your own reference later when making your decision.
5. Be realistic about must-haves versus nice-to-haves
Being flexible when searching for a rental property can go a long way in your favour.
“If you’re struggling to find a property that ticks all your boxes, consider adjusting your expectations or timeline slightly,” Jaime suggests, “Work out which features are non-negotiable and which ones you can compromise on. Being open to a broader range of properties can significantly increase your chances of finding a suitable rental.”
6. Establish a good rental history
A landlord and property manager are more likely to consider your application if you have a positive rental history. If you’re a first-time renter or have a limited rental history, consider asking a previous employer, landlord, or even an ex-neighbour for a character reference to vouch for your reliability and responsibility as a tenant. This can instil confidence in prospective landlords or property managers.
7. Act fast
The rental market can be highly competitive, with queues of prospective tenants at open homes and some properties being snapped up within hours of being listed. Jaime highly recommends that if you find a rental property that matches your requirements, act quickly.
“Submit your application along with all the required documents as soon as possible and follow up with the property manager to express your interest and reinforce your application.”
Finding a rental property doesn’t have to be daunting. These valuable tips will significantly help you streamline your search, improve your chances of securing a rental, and simplify the process.
Remember to start early, use the online platforms, be prepared, attend inspections, stay flexible, and act quickly. With a strategic approach and perseverance, you’ll find the perfect rental property that meets your needs and fits within your budget.
If you’re looking for your ideal rental property, touch base with our expert team and let us know your criteria. We’ll help you find your next home.