So you’ve decided to rent a property, you’ve found the house you want….so what happens next?
Here is a summary of what you need to know before you sign a residential tenancy agreement.
Examples of documentation you can provide that will help a property manager make these decisions include:
- Verification of employment
- Verification of income
- Reference from employer or fellow staff member
- Reference from neighbour/teacher/doctor/accountant
- Photo identification – driver’s licence/passport/student ID
- Three personal references – these should not be from relatives
- Last gas/electricity/phone bill or rates notice
Talk to the property manager about what is required to apply for the lease.
If you are approved for a property, upon signing the lease you will be required to pay 2 weeks rent upfront and 4 weeks bond, 1 weeks rent will be due again the following week to ensure you stay a minimum of 1 week ahead of your rent.
How to Submit an Application for a Rental Property
It is always best to view a property before you apply however we understand that this is not always practical. You can apply via our online application on our web site alternatively you may apply using “One Form” from your chosen web site.
You will need scan and upload your identification documents for both of these processes.
What is a bond?
A bond is a separate payment to rent, it is money that acts as security for the landlord or owner in case you don’t meet the terms of your lease agreement.
At the end of your agreement if the property is in need of cleaning or repairs or if items need to be replaced the landlord or owner may claim some or all of the bond.
As the bond is a separate payment to the rent you cannot use any part of the bond as rent – so, when you are moving out, you cannot ask the landlord to keep your bond as final rent payment.
number of days or the condition of the property is deemed to be accurate as at the Property Manager’s completion. If you do need additional assistance, help is also available from various bodies, depending on the state or territory you live in.
Make sure both you and the landlord agree on the contents of the condition report before signing it.
What should be included in the rental application:
1) Photo Identification
This is one of the most important forms of identification such as a drivers license or over 18’s card or passport.
2) Pay Slips
Significant emphasis is placed on your ability to pay rent, as landlords will prefer tenants that have a constant, reliable source of income. If you are employed, your last 3 payslips or bank statements to support your application will not only show proof of employment but will also alleviate any fears a landlord may have about your ability to make rental payments.
3) Rental History
Rental history is information on your past rental agreements, which includes former addresses, late rent payments and evictions, other information which will help a landlord judge/Property Manager whether or not you’re a good fit as a tenant. If you have a good rental history, you are more likely to be approved for a rental than if you have a poor rental history.
4) Follow up
If you have submitted an application and have not heard anything 48 hours later, we recommend following up with the Property Manager either via email or phone. Let them know you are keen to rent the property and ask if they need any more information from you.
Are you a First time Renter?
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.
A 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. While references from previous landlords are requested, there are other ways you can demonstrate your trustworthiness, that you can pay your rent on time and take care of the property.
If you previously owned your own home and have sold the property, the Property Manager who handled the sale may be able to act as a reference for you.
If you are currently living with your parents, you will require personal references.
What is a residential tenancy agreement?
A residential tenancy agreement is a legal binding written contract between you, as a tenant or resident and a property landlord, is also commonly called a lease. This document should be given to the tenant before paying any money or being committed to the tenancy. Make sure you read it carefully and ask any questions.
What goes into the Tenancy Agreement?
- the name and address of the tenant, and the property manager/owner or provider
- the dates when the agreement starts and ends (or state that the agreement is periodic)
- details about how the tenant should pay the rent and how much rent is to be paid
- details about what the tenant and the property manager/owner or provider can and cannot do, known as ‘standard terms’
- any special terms (these should be agreed in advance, e.g. that dogs are allowed but must be kept outside or carpet cleaning)
- The length and type of tenancy – either a fixed term agreement where the tenant agrees to rent the property for a fixed term such as 6,9,12 months or a periodic agreement when a tenant / resident lives there for an indefinite period
- The amount of bond required
- Other conditions and rules.