With more and more people moving to our leafy city after realising how great it really is, the property market has been tight. And according to the Domain Rental Report for the December quarter, Canberra is now the most expensive capital city to rent, surpassing Sydney for the first time in 11 years. Back in December 2013, the average rent for a house in the Canberra region was $430 per week. Fast forward to December 2018, the median weekly house rent was $560.
This time of the year there is traditionally an increase in demand for rental properties as a new wave of students and professionals move to the capital. Independent Property Management has already begun to see a large number of enquiries from potential tenants who are on the hunt for new rental accommodation.
Currently, our vacancy rate is at 0.41%. But what does this mean exactly? A vacancy rate is the percentage of rental properties out there that are vacant or empty.
So with all this competition in the air, you want to stand above everyone else and give yourself the best opportunity to secure a new home. We spoke to Property Manager Renee Bink, to find out how you can improve your chances of securing a new place.
- Fill out your application prior to the exhibition. “Our online system will let you enter and submit your details before you inspect the property, so you can get a head start over other applicants,” Renee says. Just be sure to attend the open home. “You need to view the property to be considered. Our leasing consultants will tick off all registered people.” If you have applied for the property and changed your mind, simply let the consultant know.
- Make sure all applications have 100 points of identification. “Before we go to the owner with our suggestions, all ID needs to be submitted and we don’t accept any applications without the necessary documentation,” says Renee. Acceptable forms of ID can include your:
- Birth certificate
- Drivers licence
- Citizenship certificate
- Medicare card
- Utility bills
- Answer all the questions honestly and provide as much information on your application as you can with regards to your employment, income and rental history. Renee says, “don’t worry if you’ve never rented before as long as you have financial backing. We tell our owners that first home renters are just as committed as other renters.” Ultimately, it’s the owner’s decision but don’t get disheartened. Here are some ways you can give your application an extra boost.
- Apply for more than one property. You don’t want to put all your eggs in one basket, in case something doesn’t work out, so apply for multiple properties to increase your chances of finding a home. “When you apply for a place, we recommend you select six other properties you have your eye on, in the order of preference,” says Renee. If you don’t get your first choice, the leasing consultant will contact you when you’ve become successful
- Register online. Perhaps one of the easiest and most effective steps you can take is registering your interest with our property management team. You can do this by booking an appointment to view one of our rental properties on allhomes.com.au. You will receive SMS updates on open home times and applications. If you miss out on that property, our leasing consultants are then able to recommend similar properties that are available.
- Introduce yourself to the leasing consultant. What a better way to stand out than putting a face to a name. “We love to get to know people at open homes, so feel free to say hi,” says Renee. Besides being remembered, the consultant can also suggest any upcoming properties they may have if you let them know what you’re after.