Tips: make your tenancy application stand out
The Mudgee rental market is booming!
With overseas holidays on hiatus, many people are choosing to travel regionally and are heading to the Central West. Once they’ve visited, they quickly realise what we’ve known for a long time – Mudgee is a fantastic place to live. This rediscovering of the region, coupled with a swell of job openings in tourism, hospitality and mining, has significantly boosted the local rental market as people “up stumps” and trade their city life for quiet current living.
According to realestate.com.au, there are currently only 14 properties available for rent in Mudgee. The market is tight. Just last month, Signature Properties Mudgee recorded a 100% occupancy rate, with no available properties to lease.
Average rents are also higher – a three-bedroom house now costs around $420 per week. This is significantly up on the same time last year, when rents were closer to the $400 mark per week.
Some good news – we have several new listings coming to the market this month, including three, four and five-bedroom homes, ready for quality tenants to move in.
But, in a tough market, how do you make your rental application stand out from the crowd? How do you “get in” before the 15 or even 20 other people looking at the same listings?
Here are some tips to give you a better chance of securing a rental in a competitive market:
- Get pre-approval: gather all the required paperwork, references and contact information and submit it to the agencies in your area. That way, if something comes up that you like, you don’t have to go through the time-consuming process of submitting your application and waiting for approval.
- Get organised: make sure all your required paperwork is in order. This includes pay slips, rental references, employment information and proof of identity documents. Keep everything in an easy-to-access location so you can easily submit it when you apply for a property.
- Get ahead: contact your local agencies and let them know you’re actively looking for a property. Tell them what you’re looking for – location, number of bedrooms and bathrooms, special features, yard size etc. Register your details with the agent or fill out their tenant registry form. It’s a win-win for both parties – the agent has a ready-made tenant for the property, and you get a home!
- Get savvy: fill out your rental application like it’s a CV. Do your best to include all relevant information i.e. your current job position, your salary, contacts, pets and background information. Don’t be afraid to include a cover letter about why you’re the best tenant for the home – include a little about your lifestyle and the type of person you are (neat, tidy, attentive to detail). If your background is not impeccable, provide a brief explanation of why you had issues in the past and what you’ve done since to fix them.
- Get references: an agent is more likely to approve a rental application with strong references. Ask your former landlord, current employer, family friend or colleague to write a letter of reference for you.
- Get presentable: first impressions matter, especially in a competitive market. Dress well for your inspection appointment, be friendly and personable, introduce yourself, and be on-time – all these little things will help to portray you as a respectable tenant.
- Get a pet resume: worried your pooch might be preventing you from getting a property? Put together a pet resume and submit it with your application – include the size, breed and lifestyle of your pet and a couple of photos. It may help to allay any concerns a landlord might have about a dog moving in.
Want to register for one of our upcoming properties? Sign-up to our tenant registry here or send us a message on Facebook or Instagram – we’d love to find your next home!
For more information or questions, contact Edwina Smith on 0429 328 086.
