So you are finally moving out on your own, it’s time to spread your wings and rent a place somewhere possibly closer to work or the city but you have one hurdle – you have never rented before…
What happens next, you keep attending open for inspections and they are so busy that you are lucky to say ‘Hi’ to the Real Estate Agent, you apply online and hear nothing back about your application.
Lets go over a few tips on what to include in your application if you do not have a rental history to make your application more appealing to the Agent and more importantly Landlord.
Similarly like applying for a job a short cover letter or email explaining your circumstances can really help when your application is being assessed. Include that you have been saving to move out on your own, how much salary you make, length of employment and even offer to arrange a guarantor for the lease if approved.
A reference from your parents about how tidy you kept your room isn’t exactly the type of reference we are talking about here, arrange for your employer to write one about your reliability etc. Family friends or university lectures might be willing to write a personal reference too.
This is the most important of all. In most cases if you have never rented before you may be asked to provide a rental guarantor as this will go along away in securing a rental property as the Agent and Landlord can feel more confident that you will fulfill the conditions of the lease. The person who goes guarantor agrees that if you default on the rent or do not perform to the requirements of the lease that they will also be held liable.
Rent in advance
If you have saved up enough to pay your first months rent and bond and have additional savings left over offer to pay additional rent in advance, this shows the Agent and Landlord that you can manage your finances by saving up a large amounts for this purpose.
Hopefully by following a few of these steps you will be on your way to securing your first rental property and creating your own rental history so that the next time you move you will have a great rental reference behind you.
If you have any thoughts on this topic or would like more information on this please feel free to comment below.