Canberra’s busy rental market and surging prices means there has never been a more competitive time to secure a rental property.
So, it’s important to put your best foot forward when seeking a new lease.
CoreLogic data shows Canberra’s rental market experienced significant increases in rents, with a 9.7% boost to house rents and a 6.7% rise for units in March. Rental yields were at 3.8%.
McGrath Canberra leasing agent Louise Calabria while the rental market was still robust, the number of listings had slowly increased and more properties were becoming available.
“There are still plenty of people out there and there are still plenty of properties to offer,” Louise said. “The good thing is they range from the one bedders to family homes, so cater to a wide audience.
“Across the board there seems to be something to suit everyone – so up into your $750s and down to your $420s a week. Obviously, you’re paying more for more space, but we’re finding landlords are happy to have the discussion about price points as well.”
Louise said there were some simple steps prospective tenants could take to give themselves the best chance of finding a rental to call home.
1. First impressions matter
As the saying goes: “you only get one chance to make a first impression” so it’s a good idea to make it count.
Take the time to attend an inspection and introduce yourself to the agent. This seemingly inconsequential exchange could actually set you ahead of the pack, especially if you make a good first impression.
“If a potential tenant stops and has a conversation with me, I’m more inclined to remember them and look out for their application,” Louise said.
“Nine times out of 10 people have a story behind their desperation as to why they want the property, so engaging with them does provide me a rounder picture when I’m presenting applications to the landlord.”
2. Devil in the detail
No one is going to sell you as a star tenant better than yourself, so do your best to ensure your application is A-grade.
Provide as much information about your finances and employment as you can so the landlord and leasing agent can assess whether you can comfortably pay the rent and meet your other financial responsibilities as well.
Consider including supporting documentation, such as a letter from your employer detailing your work status and pay slips as evidence of your income.
3. Be thorough
The challenge of finding a rental in a competitive market means you will need to be thorough in your application and supply all the information requested.
“It’s important to fill out the application in full and include all the information that’s been requested,” Louise said. “If they do that, they’re already off on a good foot.
“If they can’t be bothered providing all of the information, it’s not a good look from my point-of-view and might not bode well if there’s another more favourable applicant.”
4. Rental history and references
A strong rental history and positive references will help show the leasing agent and landlord that you might just be the right person to win the lease.
As well as providing contact details for professional and personal referees, it is also worth supplying written references. It will save those presiding over your application time in the shortlisting process.
5. Pets
If you have a beloved furry family member you’re also looking to accommodate, it is a good idea to have a pet resume on hand so the landlord and leasing agent can have a better understanding of your pet, its personality and needs.
The snug.com portal has a specific section for pets.
“There’s very rarely a landlord who will knock back a pet from the get-go and it’s usually because they’ve had a bad previous experience,” Louise said