When it comes to competing for a rental property, your application can be the difference between getting your foot in the door of a home you love and missing out on the opportunity. Here are some tips to help your rental property application stand out among the competition.
Don’t start attending property inspections until you have everything organised and in order to put in an application. You’ll need the proper documentation, which includes bank statements, any previous rental inspections and employment letters, as well as a list of references. Be sure to let your references know that they may be contacted because you’re on the hunt for a new home. Being organised before you start looking for a new rental property means you won’t have to waste time getting your paperwork in order while someone else snatches up the property.
Don’t submit your rental property application before you’ve had the time to check over it properly. Make sure that all of the information you have provided is correct. Be sure to provide as much detail as possible, and don’t be afraid to include information about your employment to prove to landlords and property managers that you’re able to keep up with the rent payments. Providing all of the correct information at the beginning of your application makes it easier for the landlord or property manager to sort through.
You include a cover letter when you’re applying for a job, so why shouldn’t you include one when you’re applying for a home? Attaching a cover letter to your application can make it more personal and gives you the opportunity to explain why you’d be the best tenant for the property.
When you’re inspecting a property, keep up the personal touch by introducing yourself to the agent. They’ll be able to provide you with any information on the competition for that property and give you insight into the market and other similar properties. It’s also a great way to make sure they remember you.
As soon as you’ve found the property you love, put your application in. If you wait too long, you risk missing out on it. You’ll need to be organised to be able to apply straight away so make sure you have all of your finances in order as well. If you’re currently renting, let your landlord know that you’re looking for another property as soon as possible too so they can start looking for a new tenant.
Instead of waiting until the popular property seasons in March, April and September, start searching as soon as you’re ready to find a new home. Doing this will allow you time to avoid the rush of renters looking for their new home and limit the competition. For example, if you’re looking to rent near the beach, don’t wait until the warmer months to start searching.
The earlier you get organised and start hunting for a property, the better prepared you’ll be to secure your rental property application.