It is common knowledge that the rental market is fiercely competitive So, how to get a rental property? How can you give yourself the best chance of being a successful applicant? Well, it all begins with a winning rental application. Securing a rental home can be a daunting and frustrating process. So, here are 5 tips for a winning rental application.
5 tips for a winning rental application
In a competitive rental market, you need to present yourself as the ideal tenant. How to get approved for a rental property comes down to several factors.
1. First impressions count
Show the landlord or rental agent that you’re a socially responsible human being. When you attend an inspection, arrive early, dress neatly, wipe your feet as you enter and introduce yourself. A smile won’t lose you points. Show enthusiasm about the property and explain why you would love to live there. If you build a good rapport with the agent or landlord, they’ll sway towards you over another applicant who fails to make an impression.
2. Submit your application early
Agents are often busy and don’t have time to read every application that comes their way. Strong applications submitted early should have an advantage. As such, be organised and prepared right from the start. Request an application form before you attend an inspection, complete all questions and prepare your supporting documents. If you like the property you can submit your application, jump the queue and impress the agent on the spot.
3. Prepare required documentation
Applications that aren’t supported by the requested documentation are rarely considered. In most instances, the required documents include:
a. Cover letter
Although most landlords do not require a cover letter, preparing one can set you apart from other applicants and increase your chances of securing a rental. Write a few paragraphs about yourself, your profession, and the reason for your move. Make an effort to seem professional, but not so formal that your uniqueness is lost.
b. Rental history
Knowing you have a good rental history is one of the most important factors for property managers and landlords. Providing a rental ledger proves you pay your rent on time. Moreover, references from previous properties will help agents assess quickly whether you are a suitable tenant. The stronger picture you can provide of your rental history, the more likely you are to be chosen.
c. Employment and income
Significant scope is placed on your ability to pay rent, as landlords will often prefer tenants with a constant and reliable source of income. Adding a few recent payslips and bank statements to your application will not only show proof of employment but also ease any fears a landlord may have over missed payments.
4. Name multiple applicants for shared rentals
If you’re intending to share the property with others, put more than one name on the application (pick the applicants with the highest incomes and best references). A landlord will feel reassured that there are other incomes to rely on should one of you lose your job.
5. Get to know the agent
Always follow up with the agent a few days after an inspection and reiterate your enthusiasm. Agents can meet dozens of applicants each week and may not remember one from the other. If you follow up, you’ll familiarise yourself, placing your application at the forefront of the agent’s mind.