Tips for Tenants – How to secure your rental property

Have you applied for a lease too frequently just to have it rejected? Have any showings been postponed since the property is already leased?

Have you been prevented from scheduling a viewing just because the required number of attendees was reached?

You've found the proper location if you said YES to any or all of the aforementioned questions. Discover how to improve your chances of getting your new rental home by reading on!

Setting up alerts

The internet is our most valuable tool nowadays!

Create alerts on any well-known real estate property management websites, and you'll receive instant notifications if any new listings meet your selected criteria.

Registering your interest

To guarantee that you are scheduled for the open house if a property meets all of your criteria, click the "Book Inspection" or "Register your Interest" option.

Any alterations or updates to the rental property's vacancy status will be communicated to you. Additionally, it makes it simpler for the agent or landlord to contact you.

Application information

Make sure you have all the necessary information on hand before beginning the application process. It is crucial that you thoroughly follow the instructions and supply all necessary information.

Application processing will take longer if you submit incomplete applications or omit information from your application.

Do You Take Care of Your Current Rental Property?

The key is demonstrating your ability to maintain a rental property. Always keep up with your gardening and cleaning, and make sure all of your inspections go off without a hitch.

In order to learn more about you and your rental history, the Agent or Landlord may contact your rental references while processing your application.

Give your referees advance notice of the call so they can be prepared. Delays could hurt your tenancy application. Consider treating your rental home as if it were your own.

Think about your rental payment history

Make sure your present payments are made on time if you want to improve your chances of moving up the list of prospective tenants.

You won't benefit from a history of late payments, and it may affect how the agent or landlord evaluates your application.

To ensure that your rent reaches your agent's or landlord's bank account on time, the best method to avoid this is to set up a direct payment a few days before it's due.

Be prepared

You've been informed. Your request for your ideal house has been granted! Set up a time to pay your bond, sign the lease, and pick up the keys with your agent or landlord.

In order to avoid delays in moving into your new home, make sure all the necessary paperwork is submitted in advance if you need to apply for a Housing Assistance bond.

In conclusion, set up alerts to be notified of any new or impending rentals that meet your requirements, fill out the rental application form completely, and always make sure to pay your rent on time and maintain the property so that you have fantastic rental references!

Last but not least, show courtesy and politeness when interacting with the agent or landlord. Establishing a positive rapport early on will help you maintain it throughout your tenure.

Applying for the Home

At the inspection, a leasing manager will provide you an application. Requests for references from prior landlords and agents are made on the application form.

To validate your eligibility to rent the property and your ability to pay your expenditures, the agency may verify your current employment and contact personal references.

They will require both your ABN and your certificate of registration if the application is to be submitted under the name of a business or corporation. If you work for yourself, they will ask for a bank statement as evidence of your income.

Two pieces of photo ID are required to be submitted with the application at the very least. Passport, birth certificate, driver's license, utilities account, picture ID, current bank statement, car registration, health card, credit card, and a copy of the most recent lease are all acceptable forms of identification.

Additionally, they will cross-reference your information with VEDA, T.I.C.A., or other national databases of listings of defaulting tenants.

Your application is presented to the owner for approval after it has been submitted and processed. Please be aware that the owner is not compelled to explain the thinking behind their choices.

Your lease agreement must be signed and the money needed to reserve the property must be paid within 48 hours of the agency approving your application. Rent for two weeks in advance and a bond for four weeks' worth of rent are the amounts due.

The Paperwork

You will receive a complete copy of the tenancy agreement to read before the agency asks you to sign it, along with a comprehensive pamphlet describing your rights and obligations when renting in Australia.

If you have any questions about the information in these documents, you must contact us before signing.

The Bond Lodgement Form must be signed by each tenant as well. Before the landlord hands over the keys to you, all tenants must sign the lease, pay the bond, and make the first month's rent payment.

Tips for Attracting Tenants

At some point, every landlord finds themselves without a tenant. But because of COVID-19, a lot of Victorian landlords are currently dealing with vacant investment properties.

As a result, we felt it was a good time to think about what you, as a landlord, might do to make it easier to find a tenant—ideally, one who takes good care of your property, pays market rent on time, and stays put!

Property Facelift

Without the landlord needing to make a big investment, an unappealing property might be made into a tenant-attractive offer.

A room feels clean, light, and airy the moment new carpeting and paint are added. For a fraction of the price, updating the cabinets in the kitchen and/or bathroom can provide results comparable to those of a complete overhaul.

A pleasant and modern property offering is made possible by the addition or replacement of a split-system air conditioner or other white goods/appliances, as well as keyless locks.

Additionally, a neat garden will provide potential tenants the ideal first impression.

The key to success is being proactive; don't wait until you have missed several weeks of rent before acting.

Property Advertising

Given the present limitations on movement, 3D property tours and virtual property styling on the most popular real estate websites might make the difference between obtaining a tenant and not.

Making a 3D tour of your house gives potential buyers an entirely immersive experience. According to research conducted by Realestate.com.au, buyers are spending more time looking at properties that have 3D tours. Now that buyers can virtually "walk around" a property, they could only shortlist homes where they can do so.

When combined with a dimensioned floorplan, this allows visitors to cross off many items on their wish list and advance toward submitting an application. Online competition and grabbing visitors' interest right away can significantly cut down on any losses brought on by vacancies.

Virtual styling of your online property images helps potential tenants see themselves and their belongings in the area in addition to presenting your property in its best possible light.

Contrary to popular belief, a properly furnished home always appears larger than an empty one. Following that, the virtual styling will also be seen in your 3D tour.

Flexible Leasing Terms

You may no longer assume that you will be able to secure a tenancy agreement for a full year. Now is the time to think about flexible terms, whether they nine, six, or even three months, as there are many unoccupied rental properties on the market.

This further benefit can be obtained by taking into account seasonal demands and the preferences of quality potential tenants. Realistic pricing of the property is essential given the state of the market.

It's important to take into account how vacancy affects getting the highest possible annual rental. The best overall results can be achieved by striking a balance between ambition and realism, and holding out for the maximum weekly rent can turn out to be a false economy.

Pet Friendliness

By accepting pet-friendly tenants, landlords are gaining access to the whole market. Legislation that is soon to be changed will make it challenging for landlords to deny tenants the right to a pet unless there are good reasons to do so.

Funding

Regardless of the size of your property investment portfolio, CRU Private Finance can review your situation and make an effort to lower your interest rate and borrowing costs as well as, if necessary, increase your borrowing capacity. This will help you get by while you are in between tenants and/or pay for maintenance costs and improvements to your properties.

To assist you in making the switch from empty to occupied buildings, Kay & Burton Concierge can put you in touch with CRU Private Finance, Design & Diplomacy, and other craftsmen, gardeners, and utility connection services.

Top Tips for Tenants - Renting in the time of COVID-19.

There is a reason we refer to it as a rental "search," as anyone who has done it recently would attest to. You must know what you want, what to look for, and how to get it if you want to find a place to call home.

Then, after you've located the ideal property, there are the application, lease negotiation and signing, and actually moving in steps. While these may seem simple, they actually call for a great deal of concentration, attention to detail, and more than a little resolve.

Although there are more properties available, there is less competition for each property, and there aren't as many people at inspections thanks to the coronavirus crisis, the current restrictions make each step more difficult.

However, you can simply overcome these challenges and take advantage of the current chances with a little advance planning and good communication.

Here is my advice for everyone renting during COVID-19, regardless of whether you are having problems finding a new place to live, having trouble keeping your existing place, or simply weighing your options.

Tip #1: Be realistic about your situation

When looking for a house, you should carefully consider what you can truly pay, both now and over the course of the lease.

While we are beginning to make plans for things to get back to "normal," the recovery process will take time. Unfortunately, the future of many professions is still uncertain, and the majority of industries continue to be extremely volatile.

The expectation is that you will continue to pay your rent regardless of what happens to your job or business, so you shouldn't overcommit and ensure that, even in the worst case scenario, you will be able to make ends meet — at least for a few months.

Additionally, despite the fact that many landlords are eagerer than normal to find a tenant, low-ball bids are still viewed as being extremely unacceptable.

Tenants are reportedly proposing as little as 50% of the quoted rent, which is both extremely cheeky and a terribly terrible idea (for example, $500/week for apartments listed at $1,000/week). Such an offer won't just be turned down; it may also make you look like a time waster and hinder your search for housing.

Tip #2: If you can afford to, continue to pay your rent – the full amount, on time

Numerous property managers I speak with have chronicled a significant rise in rent defaults. Many of these have been made by persons who have not been seriously impacted by the crisis, even though the majority of these have been directly related to Coronavirus (e.g., the tenant has lost their job or been stood down by their company).

If you've been fortunate enough to make it through the past several months financially somewhat undamaged, you must keep paying your rent.

There are some rights for tenants, but they only apply to individuals whose income has been affected.

As a result, if you don't pay your rent and you don't have a valid excuse, a default may be filed against your name and it may even result in eviction proceedings.

Tip #3: Keep your Property Manager updated

Clear communication is crucial right now, but you should always endeavor to keep your property manager informed of any substantial changes to your living circumstances.

Given everything going on, a lot of landlords are more concerned than usual about the stability and security of their investments.

Property managers are under more pressure as a result to make sure their renters are happy and do not have any plans to leave. Recognizing this, proactive communication about your situation can reduce tension for all parties involved, even if you haven't been affected.

Additionally, your property manager should be able to advise you on the best way to ask for rent relief if your position changes and you find yourself struggling to make ends meet.

A clear offer would be much better welcomed than a mere message that you can't pay, thus it's important to think about what alternative arrangement would be ideal (i.e., what lower rent amount would work for you) before you speak to them.

Remember that up to 30% of your salary can be considered a respectable amount to spend on housing when determining what you can afford.

Tip #4: Keeping your distance when inspecting and moving is all about preparation

Even when limitations are starting to loosen up, maintaining your distance is still crucial.

The majority of property managers have adjusted to this "new normal" and provide private viewings and video tours as alternatives to open houses for public inspections (though there are still some restrictions on these).

Knowing your must-haves and deal breakers can help you concentrate on the most important aspects of the property and ensure that it has everything you require, which is crucial if you want to make the most of these new inspection formats. Additionally, it will help you focus your search and save you time by preventing you from scheduling inspections for homes that are not a good fit.

Many moving businesses have also changed and now provide "no-touch" services, in which removalists move your belongings without involving you.

Making sure everything that needs to be moved is clearly labelled and simple to access, as well as providing a plan of where things should be left in the new property, will help the process go more smoothly if you decide to use one of these businesses (e.g. where you would like large pieces of furniture placed and which rooms boxes should go in).