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Rental tips - inner melb


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#1 lost_eb-er!

Posted 23 January 2020 - 07:15 AM

hi all

We're about to start renting again after not having done so for at least 10 years. I've completely forgotten how it all works. Can anyone offer any advice or tips?

There's a place we really want. Inspection is this Saturday. I don't know if Melbourne is still as competitive as it once was but does anyone have any tips? I should fill in the application on the spot, yes? Do they need proof of income etc on the day? And do people still offer over the going rate to secure the lease? We won't do this but I just want to know if others are likely too.

TIA!

#2 Ivy Ivy

Posted 23 January 2020 - 07:56 AM

I can only really give you current advice as a landlord.  I don't think I'd care who got the paperwork in on the Saturday versus the Monday after, anywhere near as much as, who is the more financially and situationally stable, and overall least risk applicant.  But a real estate rental manager may care about the timing of paperwork submission because it makes their process easier/faster?

The real estate manager sifts through the applications then calls me with the top few options, technically for me to make the final choice, but my decision is HEAVILY influenced by her opinion on the applicants - to the point of, I have a few investment properties, and I've never chosen a different applicant to the one she's listed as the best one.  She meets them, goes through their finances with a fine tooth comb, rings references, learns the whole back story; basically whoever she thinks is the best bet always gets the place.  I would be slightly influenced by someone offering more per week but I would not take a risky applicant over a stable one for more money per week.  Sometimes people do offer $10-30 extra a week and if all else is equal that applicant will get the place, but it doesn't happen often.

#3 born.a.girl

Posted 23 January 2020 - 08:00 AM

I believe rental bidding in Victoria is illegal now, but of course it would be difficult to prove it happened.

I'm assuming it's far less common that it used to be, though.

#4 lost_eb-er!

Posted 23 January 2020 - 08:03 AM

View Postborn.a.girl, on 23 January 2020 - 08:00 AM, said:

I believe rental bidding in Victoria is illegal now, but of course it would be difficult to prove it happened.

I'm assuming it's far less common that it used to be, though.

Thank you. That's what I was hoping to hear :)

View PostIvy Ivy, on 23 January 2020 - 07:56 AM, said:

I can only really give you current advice as a landlord.  I don't think I'd care who got the paperwork in on the Saturday versus the Monday after, anywhere near as much as, who is the more financially and situationally stable, and overall least risk applicant.  But a real estate rental manager may care about the timing of paperwork submission because it makes their process easier/faster?

The real estate manager sifts through the applications then calls me with the top few options, technically for me to make the final choice, but my decision is HEAVILY influenced by her opinion on the applicants - to the point of, I have a few investment properties, and I've never chosen a different applicant to the one she's listed as the best one.  She meets them, goes through their finances with a fine tooth comb, rings references, learns the whole back story; basically whoever she thinks is the best bet always gets the place.  I would be slightly influenced by someone offering more per week but I would not take a risky applicant over a stable one for more money per week.  Sometimes people do offer $10-30 extra a week and if all else is equal that applicant will get the place, but it doesn't happen often.

This is super helpful - thank you so much.

#5 Silverstreak

Posted 23 January 2020 - 08:31 AM

This wasn't in inner Melbourne, but years ago we beat several applicants for an NRAS rental property, according to the real estate agent.

I prepared a cover letter listing our employment, income totals, details of our pet (microchipped etc), a happy family photo and  a little paragraph on why living at the property would work for us. We've been here almost six years now.

#6 lost_eb-er!

Posted 23 January 2020 - 08:42 AM

View PostSilverstreak, on 23 January 2020 - 08:31 AM, said:

This wasn't in inner Melbourne, but years ago we beat several applicants for an NRAS rental property, according to the real estate agent.

I prepared a cover letter listing our employment, income totals, details of our pet (microchipped etc), a happy family photo and  a little paragraph on why living at the property would work for us. We've been here almost six years now.

Great idea - thanks!

#7 Bereckii

Posted 23 January 2020 - 08:42 AM

I think a lot of agencies accept applications via 1form:

https://1form.com/au

You can fill the form in now so it's ready to submit when you find properties you want to apply for.

#8 lost_eb-er!

Posted 23 January 2020 - 09:23 AM

View PostBereckii, on 23 January 2020 - 08:42 AM, said:

I think a lot of agencies accept applications via 1form:

https://1form.com/au

You can fill the form in now so it's ready to submit when you find properties you want to apply for.

I had no idea this existed - thank you.




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