Choosing the perfect Rental property
Choosing the right property to rent is just as important as choosing the right property to buy. This is a property that you will be calling home and you need to feel happy, safe and comfortable in your new surrounds.
So – what do you need to consider when selecting a property to rent?
Step 1 : Determine your needs/requirements
Step 2 : Do your homework
Step 3: Attend Open for Inspections
Step 4: Complete your Tenancy Application
Determining your needs
Are you living on your own, sharing, or do you have a family? If you are looking for a property to share – will all the bedrooms be appealing to other prospective renters and are the living areas sufficient to allow you to have some alone time? If you have children – is the property safe or can you identify any hazards that could be problematic? Is the property in close proximity to transport and amenities? How do you spend your weekends…. Mostly out, entertaining friends and family, relaxing, studying or cooking up a storm? Does the home provide you with the space and options to do this? What is your budget? Do you have enough fat in the budget to absorb a rent increase at the end of the first term? Do you need peace and quiet? Does the property provide this? Does the lease period suit you? What are your short/medium/long term plans? Do you have too much or not enough furniture? Do you need to buy white goods or are these supplied with the property?
Do your homework
Check out the rental market – what are comparable properties renting for in the same suburb and in surrounding suburbs. Would you consider the property to be value for money? If you had to break your lease for any reason, would it be easy to find an alternative tenant? How much will it cost you to live in this property – travel to and from work and social engagements, lawn and gardening costs, pool cleaning, internet and cable connections, laundry costs (do you need a dryer or is there an external clothes line?), etc.
Attend Open for Inspections
Go to a number of Opens in the area that you are looking to rent in. What is the level of interest? Who are you competing with for properties? How do you think your application will stack up? Go to the property at different times of the day/week. Is traffic or noise an issue? How will this impact on you? How does the property compare in rental price? Remember that you are on show as well as the property….Property Managers will take note of how respectfully you treat the property when you are viewing it.
Completing your Tenancy Application
Be prepared to fill in your Tenancy Application with all the information required at the property if you like it. Get together information on your Tenancy History – contact details for rental references and know your employment dates. Have your bank details, Drivers licence or other form of ID and the names and contact details of all other prospective tenants.
Complete the form in full and provide clear information to assist the Property Manager to process your application in a timely manner. If you do not provide the required information – another person’s application may take precedence over yours and you could inadvertently miss out.
And remember – the Property Manager is there to guide and assist you in making your application. If there is anything that you are not sure of – ask!