How to secure your first rental property

Almost everyone has been a first-time tenant in their lifetime – it’s somewhat of a rite of passage. Moving out of home and finding a new place to live can be daunting, especially when you don’t have any rental history to rely on. Never fear – we’ve got some handy tips on how to increase your chances of securing your first rental property.

Be well-prepared at rental inspections

First impressions are important, especially when you’re trying to secure your first place without any rental history. To show that you know what you’re doing, make sure to have your rental application filled out, complete with any other documents you may need (such as I.D, pay slips or bank statements). Some applications will ask for references, however, you should provide them even if they don’t – it will show the agent that you are serious about the property!

Use a guarantor

Most young people, when applying for their first rental property, use their parents or a close relative has a guarantor. A guarantor is responsible for covering your rental payments should you become unable to yourself – which is handy if you are studying and are relying on Youth Allowance or other government benefits as your main source of income. Using a guarantor means that the real estate can rest easy knowing that rent will always be paid, and you can rest easy knowing you have a much-needed start in the rental market. Once you’ve got your first lease on the board with no problems, the rentals you apply for in the future should be a piece of cake!

Offer to pay rent in advance

As well as providing evidence of your income and any savings you may have, offering to pay rent in advance may help secure a rental without having rental history. By doing this, you are showing the agent that you are more than capable of paying rent regularly, and if you have substantial savings, you are also showing that you would be able to make payments should you, for some reason, lose your income. If there is a bit of competition over the rental you want, and you can afford it, it is also a good idea to offer $20 – $50 more per week than is advertised to help secure the place.