How to Nail Your Next Rental Application

In a competitive rental market, having a structured process for securing the property you want can be a huge help. We’ve put together this series on renting to share with you some of our favourite tips for making the whole process a little smoother!

Prepare Your Finances

Determine what your rental budget is, before you get carried away looking for dream properties. A rough guide is that your share of essential bills should equal no more than 50% of your income. Start with your ideal area and property and, if you need to compromise, check out slightly less central areas or older properties. These are simple ways to save a little on rent, while still finding somewhere you love living.

First in, Best Dressed

Getting your application in order ahead of time can be a game-changer. You can often get a copy of the rental application from the realtor’s website, so you can come to the inspection ready to hand it over then and there. Many will also offer an online application process, so be prepared with your identification and financial documents – if you’re up against 50 other potential tenants, promptness will be key.

Put Their Best Paw Forward

If you have pets, be sure to have some good quality photos of them and put together a short ‘application’ with their name, age, breed, and characteristics. Real estate agents are particularly interested in whether they’re well-kept, and if they’re going to be noisy for your neighbours.

Go to the Inspection

You can also go the extra mile by making sure you’re well-presented and early for the inspection – treat it like a job interview. Don’t hesitate to chat to the real estate agent if you can and send them a follow up email. It will help them differentiate you from other applicants and hopefully remember you!

Be Ready to Commit

It’s definitely an advantage to be able to pay your bond and advance straight away. This is something you can mention in your follow up email or phone call to the real estate agent to show you’re committed to the property. However, this step often happens before you get your bond from your current place back and coincides with all of your other moving expenses – we know, it’s frustrating! That’s why Rapid Loans offers online personal loans from $2,001 to $40,000 with a simple application and fast turnaround if approved. If you’ve got a move on the cards, give us a call today on 1300 727 431 to discuss your options or apply online.

This is an opinion piece and is not intended as a sole source of guidance.