Just as tenants spend time and effort in looking for the right property that stands out and meets all their requirements, Landlords look for tenants who are financially responsible and reliable. They want someone who will pay their rent on time every month, without fail.
In addition to this, they also need a tenant that is clean and tidy as well as respectful of the property itself. If you can tick all these boxes, then it’s likely that you are one step closer to a successful application.
When you are looking to rent a property, it’s important to know what the landlord is considering in a good quality tenant. Some landlords may prefer people with no pets or even children if possible but there are some landlords out there who don’t mind them at all, so it doesn’t hurt to ask when applying!
There really isn’t any secret trick to renting – just be yourself because genuine good tenants make great neighbours too!!
All landlords have different criteria that they use when deciding who will be the best fit for their home. Some of these include having references from previous landlords or employers, being on time with payments, and making sure all information is up-to-date on the rental application form.
Here are a few factors you should consider for a successful application and finding your new home.
A complete rental application
If you have come across a property that satisfies your requirements, then you want to complete the online form, including all documentation required, and always add in extra, so there is no back and forth with the agent/landlord asking for more or missing information.
Before you start searching for properties, gather all relevant documentation needed for the application, so you have everything ready to submit when it comes to filling in each application for the properties you may be interested in.
Documents you may require:
- Personal Details – this can include employment details, rental history, references and letters from past employers or landlords, credit score, and personal contact info.
- Identification – A driver’s license or passport with a photo will do
- Payslips – showing your ability to afford the asking rent price
- Cover Letter – Is not always required but giving a brief description about yourself and why you would be the best choice. Can give the landlord/agent an idea of who you are.
Personal proof of finances like bank statements might also be required. You might ask what landlords look for in bank statements. Well, we all make online transactions during the month or a year and the bank keeps a record of them all. It’s a good way of seeing whether the tenant is spendthrift or thrifty.
A good first impression
Once your application is submitted, this is the first the landlord will get to know about you and if you meet their standards as a tenant. Making a good impression when you meet in person at the inspection or over the phone will increase your chances of success. Arrive on time for the appointment or inspection, dress appropriately, and when viewing the property, show proper respect, introduce yourself and ask questions to show you are interested, and answer any politely and truthfully.
Having a list of prepared questions regarding the property, what’s included, and any payments or requirements that were not mentioned on the application property details that you would like to know.
Interest through a follow-up
Lastly, follow up, if you have submitted the application contact the landlord/agent. acknowledge that you are interested in the property and if they require any more information from you. If your application is unsuccessful, there’s no harm in asking why? you can then use the information to correct your next application.
If you have been successful in your application, there are three types of fees that a landlord/agent requires:
- Holding Deposit – a landlord can request this if you are successful in your application and the rental unit is then reserved until the tenant moves in and pays the offer required fees
- Key Deposit – once the lease is signed and keys are handed over (refundable once keys are returned at the end of the lease)
- Rent/ Bond – once the lease is signed prior to moving in a bond is paid, usually a month’s rent) and then depending on your payment plan for the rent weekly, fortnightly, you would pay two weeks in advance from the day of move-in.
Applying for a rental property can be a lengthy process and requires a fair amount of information. although landlords may look at your credit score, rental history, income, and maybe even criminal background, all to get an idea of the type of tenant you would be. Remember landlords know there isn’t a perfect credit score and sky-high incomes, as long as you meet their requirements and at the end of the day are respectful of the property you can be successful.
Want to take a step further in the process of a successful application and finding the perfect property? You might consider a property valuer to assist you in making the right financial decision.While there are many factors to consider before you rent, while you rent and when you leave a rental, Soho’s got you every step of the way. If you’re still on the hunt for your next great property, browse our search pages. And remember to shortlist and swipe our listings so we can curate better matches for you!