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How to get your next rental property | Updated: 9:07:55 PM, Thursday May 30, 2013
By Alex Wilson How to get your next rental property

It’s the age old catch 22. You want your own property, but saving for it is next to impossible due to the amount of rent you pay.

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It’s the age old catch 22. You want your own property, but saving for it is next to impossible due to the amount of rent you pay.

As more people look to rent, the higher the rental property prices will go. The more competition, the more you can charge as a landlord.

Though what if I told you there were actually a number of other factors that could determine your rental price and also whether or not you get accepted for the property you want?

Here are some ideas to consider when hunting for your next rental property.

Landlords want stability (stable people)

Offer to sign a longer lease and the landlord will be instantly appeased with your commitment to the property. Stability via the lease is one of the landlord’s greatest desires.

Also look to show that you are a stable person with a stable job. Landlords want people who are going to take care of their house (prove you aren’t going to throw parties and trash the property) and who are employed in a job that is stable for the medium to long term.

Doing this can give you a leg to stand on with the landlord if you would like to offer a lower rent for the same property. I offered my tenant a lower price per week than market rate simply because I wanted her to rent the property over any of the other applicants.

Landlords have mortgages to repay

Remember that while you might be struggling to pay the rent, the landlord is likely struggling to repay the mortgage. When a property is rented out, it may just be a sign that the landlord is struggling slightly.

Show that you have a proven record of paying rent on time to promote a sense of trust. A great trick to help you get accepted on a lease is to offer to prepay rent for a few months (if you can afford it).

This influx of cash in one go will normally make any landlord take note.

Landlords have their own worries

Landlords want a tenant to occupy their rental every day of the year. For every week that no one is renting the property, money is lost.

This means that if a landlord likes you or knows you already, they may be better off keeping you on a lower rate than that of raising it for a few extra dollars only to have you leave.

The moment a price increase is mentioned, straight away say that you are disappointed and will have to consider your options after been such a good tenant. This will often get fed back through the real estate agent to the landlord and create a sense of worry.

Landlords also want tenants that aren’t going to cost them a tonne of money. Although the law states you must have the house in working order for a tenant, landlords obviously don’t want to be spending big to keep the house running.

Avoid complaining about the property and only ask to fix things if and when you really need to. The reason for this is because you will help facilitate a happy harmony between landlord and tenant. The more issues, the less favourable you will be in the eyes of the landlord come rent increases and contract renewal time.

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Savings Guide Logo Alex Wilson is the founder and editor of Savings Guide, Australia’s number one saving money website. For regular money saving tips, visit Savings Guide or follow Savings Guide on Facebook. Share this article |


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