Applying for a rental property Australia wide, in a hot market, is hard for residents who have a tenant history. But how can you get through as an expatriate, who has just moved to the country?
As you are a new comer, you don't have a credit history and cannot provide information about your previous behaviour as a tenant.
This is if you were a tenant at all in your home country.
Chances are you don't work yet and don't know too many people who can give references about you.
Rental markets are quite tight. There are more people wanting to rent than properties available.
Yes, these days, with very few homes available for rent in many capital cities, future tenants can compete against each other to get their applications approved. It is more like an application for a job interview rather than for a house to live in.
So what's a new resident to do?
Here are some options:
Real estate agents can guide you in your search. But they are flooded with applications and they act for the benefit of the landowner who pays them.
You don't pay them for coming with you to visit a house or for giving you information. So, make friends with them, be courteous and ring them every day so that they know that you are very interested.
And don't get fixated only on the pleasing homes. Ask about multiple properties on their roll to increase your chances.
Even if you don't like those homes, apply for short term lease and get a foot in the door. You'll have the opportunity to build a tenancy history and also have a reference for a future application when you decide to move to a better home.
It all depends where you look for and what you want. There are different markets for different needs.
The Australian real estate market is extremely dynamic. Things change very quickly. And they vary by areas.
If you go to a regional area you can have more choices of houses or units available for rent.
And less people to compete with to get in.
Because more than 60% of the population lives in capital cities.
Which means it can be much easier to get a new lease in regional Australia. And you'd have more chances to get your application approved quicker.
Better value, lower weekly rents. But make sure to choose an area where your skills can find you good employment opportunities.
Rents have been on the rise for quite a while across the country.
But each city has pockets where rents are actually reducing. These areas may have too many new developments. Or tenants trying to buy homes and moving out of rental. Which means rents there may be going down.
Run an internet search and sort by price to see where those pockets are.
Usually to get a cheaper weekly rent in a capital city you would have to choose a suburb further away from the city. Or from the beach. Or from the popular neighbourhoods.
Whatever area you choose, go visit it at different times of the day.
Make sure you are happy with the neighbourhood in the morning when everyone is rushing to work. And in the evening too when some want to party while others go to bed.
Once you are satisfied apply for tenancy. Here is how.
And if you really want to be in a capital city, find some tips about rental properties Sydney. You can see how rents differ by location.
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