How To Stand Out In A Competitive Rental Market
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2023-02-21
In a competitive rental market, it's easy to feel like you're just another runner in the race. But with these tips, you'll learn how to stand out and make your way to the front of the pack.
With these strategies, you'll be able to differentiate yourself from the competition and increase your chances of landing your dream rental:
- Make a good first impression
- Ask the landlord what the property owner is looking for
- Write a rental cover letter
- Quick & responsive
- Ensure your references are up to date
- Consider joining an existing house
- What does Reddit think?
Make a good first impression#
One great way to stand out on a housing rental application is to make a good first impression when you attend the home open. It is important to be friendly, well-dressed, and respectful. Making a good impression can help you stand out from other applicants, as well as show the landlord that you are serious about the property and that you are an individual who can be trusted.
Ask the landlord what the property owner is looking for?#
Most property owners are looking for tenants who are trustworthy, dependable, respectful, and financially stable. Additionally, they may be interested in specific criteria such as a certain lease duration (e.g. 12 months instead of 2-3 years), whether or not you have pets, or what life stage you are at (student, parent, middle aged).
Why ask? Asking the property manager what they prefer can give you an idea of what you can appeal to in your rental application. If there are criteria that you clearly don't meet, then it may be best to save the effort and energy for another property.
For example, if the property owner has mentioned no pets but you have three cats and a poodle, it's likely not worth the time. However, if you prefer something short-term and they're only looking for a 12-month lease, then it's worth applying! Similarly, if the landlord is looking for someone with professional qualifications and one of your housemates is a doctor, be sure to mention this on the application.
All this information can be used in a cover letter or future negotiation.
Write a rental cover letter.#
A rental cover letter is an excellent way to stand out on a housing rental application. It allows you to provide more information than what is usually asked for in a rental application, and it gives you the opportunity to explain why you would make an ideal tenant for the property. A well-crafted rental cover letter can help you stand out from other applicants by showcasing your personality and commitment to the rental property. It can also help you build a relationship with the landlord, which can be beneficial if they have any doubts or worries about your application.
We've seen how difficult and time consuming it can be to write these cover letters, that's why we built an AI Generated Rental CV Helper. Leveraging the latest AI technology, you can have a personalised, high-quality cover letter in just seconds. We're the first in team in the world to bring this technology. Try it out now and see the difference it can make in your rental search.
Quick & responsive#
Being quick and responsive is an important factor in standing out in a competitive rental market. Taking the time to respond promptly to emails, messages, or phone calls from the landlord can show that you are reliable and organized. Being responsive and attentive to the landlord's questions or requests can also demonstrate that you are serious about the application process and the property.
In addition, being timely in providing documents or information requested by the landlord can give the impression that you are efficient and organized. This can be especially important when competing against other applicants, as it shows that you are capable of meeting deadlines and staying on top of tasks.
Finally, being quick and responsive to the landlord's requests can create a good impression that you are an individual who can be trusted. This trustworthiness can be a deciding factor in the landlord's decision and can help you stand out from other applicants.
Ensure your references are up to date#
It's important to have good references when applying for a rental property. This can include previous landlords, employers, or even friends or family members. It's important to ensure that your references are up to date and that they are willing to vouch for you.
Do real estate mangers really check references?#
Yes, real estate managers do check references. They are a standard part of the due diligence process when applying for a rental property. It's important to ensure that your references are up to date and that they are willing to vouch for you.
Is it a good sign if a real estate agent checks your references?#
Yes, it's a good sign if a real estate agent checks your references. It means that they are taking the time to verify your information and that they are serious about finding a good tenant for the property.
Can I list my parents as a rental reference?#
If you have zero rental experience, this can be a good idea. Landlords are looking for trust, and reliability. It's not uncommon for children to pay rent to their parents so you may want to note them down in your rental history. You can also count on them being a decent referee.
Consider joining an existing house#
If you have little rental history, or just can't bare to keep applying to rentals it's worth considering living with flatmates, and just moving in to an existing house. This means you'll either be subletting (from the past flatmate) or signing on to the lease.
If you're signing on, you will be relying on the other tenants in the house to vouch for you, so be sure to take the time to get to know them. Ask them questions about their experience with the landlord, their opinion of the property, and what they think makes them good tenant.
If you're living with other people, it's important to be respectful of their space and their routines. It's likely that the other tenants in the house have already established a good relationship with the landlord and you don't want to jeopardize that. Respect their wishes and be sure to keep the house in good condition to ensure that you are seen as a reliable tenant.
It's free to create a housemate listing on Sharehouse, click here to get started.
What does Reddit think?#
Here's what Reddit user u/nerdb1rd had to say about this topic
- Download the Domain and Real Estate apps and set up alerts for your criteria (suburbs, rent price, no. of bedrooms, etc.)
- Bookmark the same websites on your computer/s and check them whenever you can.
- Every day, apply for everything that sits in your criteria that you and your partner are happy with.
- Once you apply, note down the email address and phone number of the real estate agent and their office and follow up via text/call/email to ask them to check your application and to come back to you as soon as possible.
- Try and do an inspection as soon as you possibly can too, even the next day if possible after work.
- After you get the inspection, repeat the process above by following up with the REA and their office through phone calls and emails.
- As much as it pains me to say this, offering about $5-10 over the suggested rental rate will give you more chance of a response.
Conclusion#
In conclusion, there are many ways to stand out in a competitive rental market. With some commitment and effort, you can be sure to make a lasting impression and stand out from the rest of the applicants.