If you are leaving home or need to rent a place to live for the first time, you may be wondering how you will win the approval of a property manager without having a history as a tenant.
This guide will help you overcome the roadblocks and prepare for your first rental property, no matter where you are in Australia.
Follow these steps to get your foot in the door:
#1 Save for your deposit
Your landlord or rental agency will want one month’s worth of rental payments upfront as a bond deposit.
They take this money as security to pay for any repairs or cleaning required after you leave. You will get this money back when you vacate the premises, as long as the property manager can see that you have left the property in reasonable condition.
Note that your bond is held in a secure place (usually within your state’s Fair Trading or Rental Bond Board); a landlord or property manager does not have the right to spend it while you’re renting the property.
Do some research into rental prices and how much you can afford to pay in rent, then save up a month’s worth of funds and a little extra as backup. It will also help if you have the first month’s rent ready to pay in advance; most landlords and property management agencies don’t take payments in arrears.
If you plan to share with housemates, you will have to agree about how someone’s bond is returned to them if they leave and others want to stay. Aim to get things in writing so you don’t end up arguing.
#2 Start gathering the things you will need
If you have been living with your parents, start work on your own collection of household items to take with you when you move.
You might be surprised at how many things you need in your new place, including:
• Towels
• Bed linen
• Cooking equipment like pots and pans
• Plates, cutlery and glasses
• A microwave, toaster and kettle
• Cleaning implements like a broom and mop
Don’t put yourself under the financial pressure of buying new; see what your parents are happy for you to take and visit your local second-hand stores.
#3 Have some budget to buy furniture and white goods
Unless you are moving into a fully furnished property, you will also need to buy furniture and large appliances.
Make a list of all the items you will need that might include:
• Couches and chairs
• Beds
• A fridge
• A washing machine and clothes dryer
• Bookshelves
• Tables and chairs
• Desks
• Cabinets
• A television\
If you’re shopping second-hand on sites like Gumtree and Facebook Marketplace, check things work properly before you pay for them.
#4 Gather references from teachers and bosses
When you rent, the landlord or leasing agent will want confirmation that you are reliable and trustworthy. They will usually reach out to the people you have leased from previously, and check to make sure you are not blacklisted on a tenancy database.
If you have never rented before, you will need to share another form of reference to ensure you will be a good tenant. Your lecturers at uni, former teacher or current boss may be able to provide this for you.
It’s also a good idea to let the receptionist at your work know that a property management agency may call to confirm you work there; if the receptionist don’t know who you are, they can inadvertently cause you to miss out on a place.
#5 Visit properties for inspections
With all the above prepared, it’s time to start your hunt for a place to rent. Take a look at listings in the area where you want to live and prepare to spend a few Saturday mornings going from place to place.
When you arrive, try to take a few minutes to speak with the leasing agent at the property. They might have some tips about what the owner is looking for in a tenant, or they might know of another property that is soon to hit the market.
#6 Be application-ready
If you’re in an area where competition is strong, be prepared to fill out and submit an application almost on the spot. Make sure you answer every question on the form correctly so you don’t get
overlooked. In a tight rental market, waiting a few days to submit an application may mean you miss out so take action to submit yours quickly and ask the leasing agent when you can expect a response from them.
#7 Be flexible
When applying for your first home, you may find it easier if you don’t have a pet and if you can move in almost immediately.
#8 Rent from a property management agency
It can be tempting to rent a place privately and only liaise with the owner directly but this can lead to problems, particularly if the owner doesn’t have a clear understanding of tenancy legislation in your state.
When you go through an agency, you will get professional-level advice and support from the leasing agent, and can be assured problems will be resolved in a timely manner. You can also trust that your bond is being stored safely where you can access it if you need to, and any disputes will be resolved according to existing tenancy laws.
Looking for your first rental property? Contact your local Professionals agency today.
