So, you want to rent a property in 2022? The good news is that there are still lots of rental properties out there, as many home buyers choose to purchase instead of rent—and they’re willing to pay extra to do so! The bad news? Competition over rental properties has never been fiercer, making it all the more difficult to land that apartment you want in the city where you want it. Here’s how to get yourself on top of your competition and on your way to renting a new home in 2022 with ease!
Inspecting a property
The first step when you’re looking for rental property is to make sure it’s really what you want. For example, if you have roommates that don’t get along well. Choosing an apartment with one bedroom will be better than four bedrooms. With these tips for inspecting a property and applying for a rental property in 2022. Everyone should be able to find an ideal living situation soon.
When selecting a home for sale or rental; potential buyers or renters must meet with the property’s current owner or renter. One option is to simply ask the person who owns or lives on the property if they are open to this type of meeting. Alternatively, they may be open to an open house-type event where prospective customers can browse at a predetermined time.
Tips For Inspection
Tips for when you inspect a rental property:
- The Tenants Union of Victoria can be used as a source of information.
- Make sure to bring a list of questions to ask the owner of the property
- Take a photocopy of your documentation such as identification and references, and a pen so you can immediately fill out an application if necessary.
- You can likely get a copy of the application from the leasing agent or property manager before the inspection. Ask for it and check the website if there is one.
Before you rush out and buy a new property; it’s important to inspect (how to inspect a property) the current state of affairs. Depending on the type of property you’re buying, this inspection can be as simple as a single walk-through or it can be an intensive week-long evaluation of every aspect of the building from basement to attic. Here are some tips on how to conduct your property inspection so that you know what you’re getting into before you buy.
Knowing What You Are Looking For
There are three different ways that a home inspector inspects a property. They’re all valuable, and you should feel free to incorporate all three into your inspection approach. It depends on what stage of buying/selling process or project your house is in. But it depends on what YOU want out of an inspection. One thing’s for sure; though you won’t learn much without getting off your duff and performing a hands-on evaluation of your potential new home.
The first and most crucial stage of inspecting your home is: knowing what you’re looking for! As we said, there are three main ways that house inspectors inspect properties. You may want to spend some time exploring each of these methodologies so that when it comes time for your inspection. You can decide what method will best suit your purpose.
If you want a complete guide on how to inspect a property you can check out this post.
Applying for a rental property
If you are interested in the property, you will need to submit an application and supply the documents they request.
- You must provide proof of identification, such as your driver’s license, passport, Medicare card, health care card, or birth certificate.
- A list of the names and contact information of individuals who will act as references and will speak on your behalf when required.
- Your history of renting homes.
- Rental receipts or monthly statements
- Career-related information and professional background
- Something as simple as a pay stub from your current employer or a recent income statement from Centrelink should suffice.
- Your banking information, along with copies of bank statements.
If you give your agent or the person you’re leasing permission to contact references on your behalf; it’s important to specify which contacts they can reach out to.
Please, let your references know they may be contacted by agents before you submit your applications.
Then, follow up with the agent after a few days and find out if he or she needs any more information.
If Application gets Rejected
If you don’t succeed on your first try; reflect on why and that may give you more insight for your next application.
For those of you who rent an apartment and the apartment-owning landlord finds out that you owe rent in the past; they can block you from renting the apartment again. To avoid this, simply tell the landlord before the agreement that you have an issue and are interested in moving on with your life.
What should be included in the rental application:
A guide for those in the rental market
If you want to be considered for a rental property, the first step is to fill out an application form. That form is your way of demonstrating to the landlord and the agent that you’re the right person for the property. That you have enough money to pay the rent, and that you will care for the property in the way specified in the lease. All applications are considered, so ensuring that yours stands out is important.
It is worth double-checking before you look for a house. As there are some requirements like bank and employment information, credit scores, and ID documents. If you are in a tight race to rent a house, you can use these materials in your application to make it yours.
Rental Resume
Make a cover letter and have it ready before your visit, which you can provide when the owner is interested in meeting you. Your resume should include your education, current employment status, salary, rental history, references, and contact information. With a document like this, a good first impression may lead to better chances of acceptance.
Please Provide Photo Identification
Putting yourself in the landlord’s shoes, do you want to let someone who cannot prove who they are, live in your home?
Your driver’s license or passport will normally suffice.
Reference Letters
Any letters of reference from past landlords and employers you may have been very valuable. Hearsay can sway the landlord or employer’s decision to grant your rental or employment application.
Pay Slips
Significant attention is given to the quality of your pay, as landlords are typically most keen on tenants who have a dependable and steady source of income.
If you need to make a solid application to your potential landlord, add a few recent pay slips and bank statements to make the idea of paying for your rent less troubling.
History of Renting
Information regarding past rental history may include; previous addresses, unpaid rent, and eviction records, as well as your criminal history, credit score, and other information, and this is taken into account to decide whether or not you will be a good tenant. This is akin to your credit score when considering taking out a loan. The more solid your rental history is, the more likely you will be approved for renting a new property.
Landlords and real estate agents can access your rental history easily to figure out if you would be an appropriate renter for their property. Check to make sure you are aware of everything on your rental history report so you’re not in for any surprises. When you download and review it, we can talk about anything that might come up in your notes.
This can be a crucial addition to your application.
Cover Letter
If you want to make a terrible first impression, you should attach a cover letter to your application form.
Besides making you stand out to the committee and adding an air of professionalism to your application, this detail is sure to leave an impression.
Dressing well and making an appointment for a haircut might help as well. Follow up
If you have submitted an application and have not heard anything back within 48 hours, please give the agent a call to let them know you are super keen to rent the property and ask if they need any more information from you. So if they receive a nice message from you it may make them happy and want to approve you.
Are you a First time Tenant and Need a Reference?
After having spent the past week checking homes for rent, when you get to the open for inspection and see that there are at least 40 other people there who are just as keen to rent the house as you are, you feel despondent.
The real estate agent greets you at the door and asks for your rental history; but what do you do if this is your first rental? The best thing to do is to don’t panic because everyone has rented for the first time before. Thankfully, there are many ways you can beef up your application to show that you are an awesome renter.
Rent payments are the agent’s main concern and applicants are asked to demonstrate their ability to keep up with their rent.
There will be certain details you will want to provide based on your previous situation – for example, if you were living in student accommodation; provide the name of the person in charge of the property.
If you’ve been a homeowner in the past and recently sold the property, the agent who handled the sale may be able to act as a reference for you.
When you are looking for a new apartment; you will require personal references and your parents will need to co-sign with you in some cases.
Documentation You Required:
Possibilities for providing documentation that may help property investment managers make decisions include:
- Confirmation of your employment
- Confirmation of income
- With a reference from either an employer or a co-worker.
- Verification from neighbour/teacher/business person/doctor/accountant
- You will need some form of photo identification, like a driver’s license, passport, or student ID.
- Three personal references from people you are not related to.
- Last electric bill, last gas bill, or last mobile bill.
Build a relationship with the agent
To put your best foot forward, spend time getting to know the agent, and always look your best. They want to know that the tenants they place in the property they are managing are reliable and easy to deal with, so show them that you are. They may be able to assess your application for landlords ahead of time to improve your chances of getting approved.