If you are in the market for a rental property, then you will understand the market in Perth is extremely tough for tenants right now. This week we had a record of 95 people registering to inspect a single property! With so many tenants competing for so few properties, people are missing out and becoming increasingly frustrated with the process. There are several factors contributing to the current rental shortage in WA and unfortunately, all indications suggest that it will take some time for supply to catch up to demand. With owners becoming spoilt for choice as they are receiving multiple applications.
#1 Be on time and say hello.
We get it, it’s hot, you have probably been to several inspections with no luck, you are desperate to find a rental and tensions can be running high. Please keep in mind that you want to stand out in the crowd for the right reasons. Landlords like to know who is going into their rental property and it’s common for them to ask our impressions of applicants, how were they presented, were they nice to deal with etc. Make sure you introduce yourself to the agent, so they know who you are and can give some feedback.
#2 Have your application ready to go.
The rental market is moving at lightning speed. If you find a property you like, don’t delay. We are receiving multiple applications on each property so giving it a few days to mull over will likely mean you will miss out. These days most agencies use programs like 2apply or 1form to receive tenancy applications. With these programs, you can fill out an application and attach all your documents before you even see the property. At the viewing, you should receive an application code and you are able to apply before you have even left the property.
#3 Be contactable
After you have submitted your application there are several reasons why our leasing agent will need to contact you. If you are not responsive to phone calls or email, we may not be able to completely process your application. If we cannot process your application, we cannot present it to the owner, and you will miss out.
#4 It’s not you it’s me?
If you have applied for several properties and you keep missing out, then you need to ask yourself why that might be. When you apply for a rental property, the agency will contact your previous property manager or landlord for a rental reference. If you have had issues previously like late rental payments, breach notices etc. then this could be the reason you are not being accepted. It would be a good idea to contact your previous property manager or landlord to see if you can reach an agreement.
#5 Timing is everything
Pay close attention to the availability date on the property listing. If you are applying for a property that is available now and you can’t move in until your lease is up in one or two months’ time you cannot expect an owner to hold the property for you without paying rent. In a fast-moving market, you will be expected to take possession of the property in one to two weeks maximum.
Lastly, don’t take it personally. There can be many reasons why a landlord chooses one application over another. In a market such as this, it can simply be just a numbers game.
Written by Ben Broadley
Business Development Manager at Paragon Property