How to find a rental in a tight market

The property market has been booming of late, and not just for those looking to buy a home. The rental market has been extremely competitive too, making it harder for some renters to be able to find somewhere suitable to live.

Trying to find a new rental can be stressful, particularly if you live in an area where vacancy rates are low, but there are things you can do to help you on your search and give yourself a bit of an edge.

 

Search within your budget

Research what is available where you want to rent and ask yourself if your budget will get you the type of property you’re after. Don’t forget to also factor in other costs of living such as utilities, transport costs, and any other incidentals.

If you think you will only be able to just scrape into the area that you want, then it might be worth looking at more affordable suburbs nearby where you will have a bit more weekly cash to spare.

 

Don’t delay inspections

If it is possible, make sure you attend the first advertised inspection for the rental in question. If it is mid-week, then you might need to take some time off work because if you miss it then somebody else might get accepted for the property before you get another chance.

Sometimes a rental will not have an inspection time listed. In this case, it is worth being proactive and getting in touch with the property manager to arrange for an inspection when it is convenient for you both.

 

Be ready for the paperwork

Once you have inspected a property and you’re happy with it then you will want to apply promptly.

It can help to have all of your rental application forms filled out and ready to hand in on the same day (these can often be found online or you can ask the property manager before the inspection). You will also want any references and copies of your identification on hand.

By having all of your paperwork filled in and ready to go, you are not only more likely to beat out other applicants but you will be able to demonstrate that you are organised and serious about the property.

 

Reach out to your contact list

You might be surprised at the leads you can find by simply putting it out there that you are looking for a rental. Ask family and friends, and perhaps even post your interest on local community Facebook pages.

It is also worth getting in touch with any rental agencies you have rented with previously to see if they have anything available (or about to come up) that would be suitable.

 

Put your best foot forward

It is always worth trying to make a good impression when you get in touch with property managers. So be friendly and polite and remember that even if you miss out on the first property you inspect with them, they will likely keep you in mind for any future rentals that come up.

 

Jul 2021