KC Executive Property Management Pty Ltd

Kristy Cameron

Blog

SURVIVING A HIGH DEMAND RENTAL MARKET

Posted on 19 September, 2019 at 23:10

The process of securing a rental property in a high demand market is no different to securing a job. We’ve all been there at least once in our lives and gone through the process. On average, you could be one of 100 other people applying for the position. Each applicant as enthusiastic and well suited for the position as you are. Each employer with their own process of how they go about employing the ‘right’ applicant for the company who will be the best fit for the position. Not all employers will acknowledge you in the way you deserve or expect to be. Not all employers will respond to you - regardless of the time you have invested into attempting to secure the position. If you are unsuccessful - the employer may not give a reason why you were unsuccessful nor are they obliged to provide constructive feedback to the level you desire.


Top 5 strategies to stand out from the crowd –


1. Just like applying for a job, read the advertisement carefully. When a property manager is receiving 40-80 enquiries on each property advertised, they may prioritise their responses firstly to prospective tenants asking questions that the advertising doesn’t already cover. Information typically covered in the advertising is usually; term of the lease, pet preferences, when the property is available and how to inspect.

 

2. Lodge your enquiry online where the advertising states online enquiries only. It’s not that the property manager doesn’t want to speak with you, it’s just an effective way for them to manage the sheer volume of enquiries. I’ve been saying for years I’d love a job where I just get paid to purely sit around and talk to people all day. Unfortunately, the daily workload an agent needs to plough through prevents them from having this luxury. Online enquiries also equip the agent to have a valuable reference of information to pass onto the landlord. When I’m in leasing mode, I work 24/7 however this is online only whilst outside of business hours. I’ve advertised properties in the past on a Friday and by the following Monday I’ve; closed off enquiries, organised the first group to inspect and taken online applications to commence processing for owner approval. Perhaps if you intend on calling, allow the agent a reasonable timeframe to respond to your online enquiry first then hopefully a chat will soon follow at your convenience.


3. Stand out from the crowd. When submitting your online enquiry, rather than just ticking the standard boxes, (inspect, length of the lease, date available) include a short summary of yourself. For example, family of four with a small outside dog moving up from Melbourne requiring a property within the next month. Look at the comments section as an opportunity for your enquiry to stand out from the crowd and capture the attention of the agent reading it.

 

4. When applying for the property ensure you submit all the necessary supporting documents required. If an agent is processing a substantial number of applications on various properties with a line-up of applicants and landlords eagerly waiting for responses, they may not chase you for missing information. Give yourself the best chance of your application being successful by filling out and submitting all the necessary information required. KC uses 1Form which is an online application you can pre-fill and upload your supporting documents into. All that’s then left to do is link the advertised property to it that you wish to apply for on receiving an inspection code from KC.

 

5. Why not raise the bar and mention a few qualities about yourself beyond the standard expectations of a landlord. I often hear prospective tenants advise they are excellent tenants because they pay their rent on time and look after the properties they have rented. This is a very lucrative trait for a landlord, however, this is also standard expectation of what’s required of a tenant within their Residential Tenancy Agreement. There are also many other prospective applicants with the same qualities. Patience, flexibility, understanding and the ability to effectively communicate during tenancy are also highly sought after qualities that are desirable to a landlord. Hopefully the agent you choose will show you the same qualities in return.


On a final note, we’re all in the same boat. Agents and prospective tenants are both; time poor, dealing with a multitude of people, attempting to remember each parties situation along with attending numerous property inspections. Aside from the process of vacating, it can be one of the most stressful aspects of property management for all involved. It is also the most rewarding when you finally secure that quality tenant, or, for you the property. I look forward to reaching this outcome with you.


KC

Categories: Prospective Tenants