EEK RENTALS

 Well who would have though eh the rentals are just about into a crisis mode now as they have reached the lowest vacancy rate at just under 1%.

The population growth increased by 1.5% during the 12 months to March 2020 and with more than 1,000 international arrivals expected per week (when the borders open up fully) the market is going to get more competitive for all the renters as the stock becomes tighter.

I happened to have the opportunity of going to a rental home open and I was quite blown away by the response that we had to the home open.  I was intrigued at everyone so I asked quite a few of them where have you come from the answer was mainly the UK.  They must have seen my look as they said dont worry we have just come out of quarantine ha ha....  Again though you dont have time to go away and think about it you need to make a decision.

Renters that we have had in the past that have just come back from the UK already had put their application in and waiting subject to their viewing it (miles ahead of everyone else and guess what they offered more money too so they got it).

The units have definitely jumped from $310 per week to up to $400 per week.  The prediction is that the rentals will move up by 10 to 15% but I feel that renters are already managing that all by themselves.

Investors will come back into play though I feel with the returns marching upwards it will spark their interest again which is a good thing.

For those renters just coming into the market please take note:

Completely fill in  your application and be as honest as possible submit the application with your identification i.e. drivers licence and passport.

Any references you can get submit those as well and make sure you have let them know you have put them down so they are prepared for the call.

Documentation: its very important that you can prove you can afford your rent so have the payslips, bank statements whatever they are asking for put them in with the application.

Cover Letter - quite a new thing but also very important to submit saying a little bit about yourself and the reasons why you would be such a good tenant

Pet resume - a small written summary on your pets nature, personality and appearance, references from people who have lived with your pet and the documentation proving that your animal is microchipped etc.  Yes I know seems a bit out there but trust me it will help you in securing your new property.

As it get's tougher and tougher out there wouldnt you be better off by being 100% prepared and ahead of the next person.

Times are changing and I feel very sorry for those perspective tenants that are not in such good shape as others I feel that the Government is going to have to supply new accommodation in the future as they will continually miss out due to far better applications being received.  Being 100% prepared is a very good start and will put you one step closer to the prize.

If you need any help please contac the office and make an appointment to see someone to help you become a very good application just takes a bit of time initially and then you are all set.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!!