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First Time Tenants

Listing a property and inundated with viewings and applications is a fantastic result for any landlord, but as an agent sifting through multiple applications to decipher who is best suited can be a time consuming task. I have recently leased a property after only 3 days on the market, and that was 26 viewings, and 15 applications in 3 days ! I then had the task to contact each unsuccessful application, which is never an easy conversation. I always offer some constructive criticism for the applicant as to how they may improve on their paperwork to provide them with future success.

If you have never rented a property before, you may feel caught in the middle of a rock and a hard place ! First-time tenants worry that because they cannot prove a rental history, they will not be able to rent a property – leading to a catch-22-type situation.

Fortunately, every tenant has been a first-time renter at some point and there are a number of things you can do to strengthen your application and your chances into the rental market.

An agent or property manager will be mainly concerned with an applicant’s ability to pay the rent, as well as their ability to take care of the property and comply with the terms and conditions of the lease.

The information you should supply will vary depending on your previous circumstances – for example, if you were previously living in student accommodation, you may wish to provide the details of the person who was in charge of managing the complex.

If you previously owned your own home and have sold the property, the agent who handled the sale may be able to act as a reference for you. Proving a history of council rates payments will also be an advantage.

And if you are currently living with your parents, you will require personal references. In some situations, you may also choose to have a parent co-sign your lease with you. If your parents are currently renting, ask to be added to the lease agreement as this will be the start of your rental history.

Examples of documentation you can provide that will assist the agent or landlord to make a decision in your favour may include:

  •     Verification of employment, a reference from the director or HR manager or fellow staff member
  •     Verification of income including pay slips for the last 3-4 cycles
  •     References from employer or fellow staff member
  •    Three personal references – these should not be from relatives but may include your neighbour, teacher, business person, doctor, accountant
  •     Photo identification – driver’s license/passport/student ID/medicare to make up your 100 point checks
  •    Last gas/electricity/phone bill or rates notice that show they are upto date
  • Bank statements from the last month.

 

 

Cherie Fox

Licensed Estate Agent

Property Manager

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