In a competitive rental market finding a property and getting approved can be tough, therefore it is important when applying that you have all of your documents ready to go. Property managers need to verify your identity, like to confirm your rental history and ability to afford the rent. You will need proof of income, a current bank statement and photo ID.
Most property management agencies use 1form. You can create your profile for free and once this is set up you can apply for most properties directly from the internet listing. Click here to go to 1form.
To help your application, add all of the supporting documentation. You should have at least 3 income statements, photo ID and a current bank statement.
If you don’t have access to online formats have it all photocopied, stapled and ready to go with the application.
When you have viewed the property you can quickly apply and if you have all your application and supporting documents ready, it can move your application to the top of the pile.
Prepare your references
Notify your current agent and rental reference contact that they may be asked to provide a reference and if they can submit the reference in a timely manner once requested. You do not need to submit a tenant ledger with your application, your agent will provide this.
Why is it so important to be prepared?
If the property manager needs to request further information from you this can delay the process of your application. It is important that you are prepared and are ready to go with your application.
Have your money ready!
You will need to have the first month's rent saved and additional funds, usually equal to one months rent for the bond and once approved for a property you will need to pay a holding deposit. This is usually one weeks rent which is transferred as the first weeks rent once the lease starts. Being approved does not mean that the property manager will hold the property for you!