Live SEQ, Tenants & landlords | 3 min read

How to Make the Most of Your Next Rental Application

08/10/18

Ever wondered why your Tenancy Application has taken so long to be processed and approved? Getting through applications can be a time-consuming for a Property Manager, but there are a few ways to ensure yours finds its way to the top of the pile.

If the property manager has to chase you up for more info, the process is only going to take longer.

But no need to fret, as here are some tips and useful information to assist you to successfully completing a Tenancy Application and boost the speed in which your application is processed and approved.

  • Ensure all your personal contact details are provided in full and are readable. Illegible numbers will cause unnecessary delays should the agency want further information or even to provide you with the happy news of your approval.
  • It may seem like an obvious one, but don’t submit a blank or half-completed Tenancy Application. Ensure all fields labelled *required are completed and all documents included. Use the checklist which is included on the first page of the application.
  • Make sure all information provided is true and correct, as a Tenant Database check will be completed whilst processing the application.
  • Applications will always require 2 x payslips or bank statements (up to date and current) and/or Centrelink statements to determine your affordability criteria.
  • Mandatory documents for proof of identification include passport OR birth certificate, driver’s licence OR proof of age card. All attachments should be sent in a PDF/scanned format and not an image/photograph file (jpeg). Photos are generally low quality/resolution and ultimately difficult to read, resulting in further delays in the processing.
  • Make sure you have supplied current and up to date contact information for both your rental and/or employment references. Correct email addresses and contact details will assist with the speed and finalisation of your application.
  • Your affordability criteria based on your supplied income and generally calculated as 30% of all applicants combined weekly income; for example:

$2700.00 (the combined weekly income of 3 applicants) divide by 3 = $900.00

This amount must equal or exceed the weekly rent payable.

  • Before applying, be sure all applicants are financially secure and able, as you will be required to pay the first 2 weeks rent within 24 hours of approval and sighting the General Tenancy Agreement and Special Terms for the property. You will also be required to pay a rental bond equivalent to 4 weeks rent which will be held with the Residential Tenancy Authorities (RTA).
  • Consider the stability of your living arrangements, as when you are secured and in a General Tenancy Agreement, requesting to end the Agreement prior to the contact end date is considered a “breach of agreement” or a “break lease”. This course of action can be quite costly in the long run.
  • If applicants have an unsatisfactory rental history or a negative experience with a previous agent, it is always good to notify the agency when submitting your application to ensure complete transparency prior to contacting the referees.
  • If the application is filled out correctly, the best turnaround time can range from 24 to 48 hours, taking into consideration the time it takes to receive references back. You may wish to advise your referees that you are applying for rental properties and have listed them as a reference; they are then aware and can respond quickly.

If your affordability falls short, any savings information provided will be taken into consideration to boost your application

Keep in mind…

Property Managers generally have a good nose for suspicious behaviour and will always go with their gut instinct if an applicant is acting “off” or “something isn’t sitting right”. Asking the agent to not make contact with your previous agent or employer, or offering a large amount of rent in advance is more likely to hinder your application than help it in most cases.

If you have any further questions or concerns around what needs to be included in your tenancy application, then please don’t hesitate to contact our in-house Property Management Team, who can work towards securing a rental property that suits your needs.