It’s no secret that the Perth rental market is running hot right now.
The media is full of headlines about the rental shortage turning into a full-blown rental crisis. We’ve seen news of renters having bidding wars and other tenants concerned about being left without a roof over their heads. There are very few properties to rent, rents have been rising and are predicted to skyrocket in coming months, vacancy rates have fallen and there’s little doubt that it’s a landlord’s market.
At Rentwest, we are fielding plenty of tenant enquiries, have seen queues at open homes, and multiple applications for every rental property.
So how can tenants secure a rental property?
We take a look at what property managers and landlords are looking for, and how to keep ahead of the competition.
Search proactively: make contacts and set up alerts
In a tight rental market, our phone is ringing and our inboxes are full with demand for properties before they’re even advertised. At Rentwest we have a tenant database that we use to match tenants with properties before they even hit the listings websites. So it pays to speak to property management teams in the areas you are searching, to see if they have anything coming up that might be suitable and match your search criteria. In addition to this, you should set up alerts on listings websites like realestate.com.au or reiwa.com.au, so you’re notified as soon as something new hits the market.
Be prepared to apply as soon as you inspect
Different agents use different systems to take rental applications. For example, at Rentwest we use Tenant Options. If you want to be on the front foot, make sure you are familiar with the application process for any rental property you think you may be interested in before you even see it. If it’s one of our properties we suggest creating a renter profile in Tenant Options. Then, if you have everything you need in order, it will be as simple as pressing a button once you’ve inspected the property.
Don’t ignore the detail in your rental application
The application form is the property manager’s main way of getting to know you, and finding out what type of tenant you are likely to be. So don’t hold back on the details if you think it will add to your application.
For example, we recommend:
- Following the instructions. Not all tenant application systems are the same, so pay attention to what is requested, and the format it’s needed in.
- Fill in all details on the application form. If something doesn’t apply to you, enter it as “n/a” or “not applicable”, rather than leaving it blank, so the property manager knows you have read that section and not missed it.
- References really matter. Provide full names of referees and current phone numbers and email addresses that they actually answer or check. If it’s hard for a property manager to get hold of your referees, it could lessen your chance of being accepted.
- Make it timely. Ensure you get your application in as soon as you can, and make sure it’s complete. If yours is a group application, involving multiple people making applications, make sure all of the people apply in a timely manner. Most of the online application programs allow for people to join their applications if they are entering them separately.
- Don’t forget the extra documents. Upload copies of your ID, payslips, and whatever else is requested so everything is there for the application to be assessed.
Include your furry friends. If you have a pet it’s important to mention this, and include a pet CV or references. Photos of pets can also help and it’s worth saying if they go to doggy day care.
- Be honest. It always helps to give some context and explain why you’re moving or why you like the property. It helps your property manager understand the type of tenant you may be.
- Tell us more. Feel free to add a cover letter or other documents like written references to support your application.
- Be patient. For most advertised properties right now, there are a lot of applications to go through. Allow the property manager time to process your application and talk with the owner before calling to see what the result is.
- Keep us updated. If you do find another property or change your mind, let the property manager know you’re withdrawing your application. This helps other applicants still waiting to find a property and makes the process smoother for everyone involved.
For expert advice from a dedicated property management team, call the experienced Rentwest team today.