Darwin Property Blog
Posted on 30 July, 2018 in Tenants , Tips , Rentals

3 Things You Must Do to Get Your Rental Application Approved Fast

3 Things You Must Do to Get Your Rental Application Approved Fast

Whether your move to Darwin is temporary or you’re not looking to buy a property just yet, there are lots of good reasons to rent. However, choosing to become a tenant isn’t enough to ensure you get into the property of your dreams. If you’re looking at a house or apartment to live in for months or years to come, you need to make yourself stand out from the crowd.

Unfortunately, this often means competing against other prospective tenants. The good news is, landlords and property managers are in the business of making money. As a result, they value tenants who have a great financial history and can prove it. If you want to expedite your application and beat others to the finish line, having all the right information on hand will serve you well.

First of all, you need to understand what landlords and property managers are looking for in tenants. Once you’re sure you can tick the right boxes, finding ways to verify your suitability quickly is vital.

What Landlords and Property Managers Want in a Tenant

No landlord rents out their property with a tenant that will cost them money. And the best way to prove your suitability as a tenant is to demonstrate your financial suitability. Generally, your landlord will want to see that you can comfortably pay your rent.

To see evidence of your financial suitability, your landlord will look for the following:

  • Proof of your income, as well as any other adults living in the property.
  • Evidence of a good financial history.
  • Ideally, you’ll also have proof of being a great tenant in the past.

In some cases, a landlord may accept a guarantor; especially if you have no rental history. However, it’s worth understanding that they will naturally opt for whoever is the most financially stable.

Verifying Your Identity and Tenancy Database History

One simple way to impress a landlord or property manager is to verify your identity and tenancy database history quickly. Ideally, from the moment you begin approaching prospective managers, you’ll have relevant information to hand over. Such information will include:

  • Proof of your identity, such as a passport, driving license, and evidence of any name changes due to marriage.
  • Proof of your current address, including recent utility bills.
  • Proof of your income, such as pay slips and/or recent bank statements.

Even when organising comes naturally to you, it’s easy to miss the smaller details. Unfortunately, seemingly simple pieces of information can halt the application process. To prevent such instances from happening, use applications such as 1Form. Digital applications won’t let you submit until you have all the right information. This means they limit the chances of slowing the process down.

Obtaining a Copy of Your Rental Ledger and Proving Your Financial Standing

If you’re currently renting, or if you’re about to rent, asking for your rental ledger early on can save headaches in the future. A ledger demonstrates that the payments you make match the claims of your landlord. While most tenants and landlords have an honest relationship, getting your rental ledger acts as a safety net for both parties.

Similarly, doing so will allow you to expedite future rental applications. Your ledger is firm proof that you can make payments on time. If you’re currently moving from one property to another, ask your current landlord for a copy.

Always take an honest approach to your application. Resist the temptation to exaggerate your income and make sure the information on your record is correct. Also, obtaining recent financial statements will help you fly through the rental application process. With accuracy, you can quickly prove your suitability and move into your new home.

Bonus: Rent Through an Experienced Property Management Firm

Applying for a Darwin rental property through an experienced property management company will make the tenancy application processes smoother. Good property managers will have systems and processes in place to make receiving and evaluating applications quick. If you follow the tips we've outlined here, they'll love receiving your application because you're exactly what they're looking for.

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