PROCESS FOR APPLYING FOR A PROPERTY WITH RAY WHITE NEWCASTLE LAKE MACQUARIE
Looking for a rental property can be daunting and time consuming but here at Ray White we are working to make this as stress free as possible for our customers.
Here are our top 10 tips for customers when embarking on finding a new home.
- Create an account with either Realestate.com.au or Domain.com.au – both these sites are used by most agents and once you have an account you can set up specific search criteria to be instantly notified of properties that match so you don’t miss out on any opportunities.
- Be realistic with your budget – as a general rule the affordability ratio to assess your suitability as a tenant is 35%. This means the weekly rent can’t exceed 35% of the total after tax income for your family or group.
- Make a clear list of must haves and nice to haves. It is rare to find the “perfect” property that has everything you ever dreamed of, but if you set some clear expectations that can guide you it will minimise wasting time on properties that don’t fulfil your needs.
- Make sure you read the advertising properly to ensure the property lines up with your criteria.
- No pets, means no pets. Most owners won’t budge on this so don’t waste your time attending an inspection and applying if you have a pet.
- Make time to attend inspections. Most agents will not process your application until you have viewed the property because of the practicality of it. Talk to your boss and explain you are needing to find a new home and that until you find something you may need some flexibility to attend inspections. Alternatively have a family member or friend look on your behalf if you can’t attend. For out of towners you can employ a Renter’s Agent to look on your behalf – there are fees involved but well worth it if you can’t attend inspections so you don’t miss out.
- At the inspection make sure you take notes on your phone or in a notebook. This way you can keep track of the properties you have viewed and not get confused about which property had what. Also a tape measure is handy so you can make sure that large fridge or washing machine fits.
- Don’t be afraid to ask questions about the lease terms or the property – it’s the agents job to be there to answer as best they can. If they don’t have the answer they can find out and message you after the inspection.
- If you are applying make sure you tell the agent before leaving the property so they can register your interest to send you any additional information regarding the application process.
- Apply straight away and complete the application in full – don’t think I will get to that tomorrow. In the current market properties are leasing within 24 hours. It is very competitive so being prepared to apply straight away is really important. Any missing information will push your application to the bottom of the pile. Make sure you read instructions and upload all requested documents to ensure your application is fully processed as quickly as possible.
HOW TO APPLY
- Find a property you are interested in online.
- Click the register for inspection button.
- Select the inspection you wish to attend. If there is no inspection set this may be because the agent hasn’t confirmed access with the current occupant. If this is the case you can still register your interest and you will receive a notification the very instant a time for the inspection has been set. Numbers are limited due to COVID19 so make sure you register straight away so you don’t miss out and equally if you decide not to attend make sure you de-register so someone else can and to avoid getting further alerts about the property.
- Attend the inspection.
- Once you decide you want to apply let the agent know on the way out of the inspection. You will then receive a message after the inspection with a link to the application.
- Click on the link and follow the prompts to complete the application. Make sure you fill out all details correctly and upload all supporting documents.
- You will then be notified at each stage of the process – if there is missing information you will be asked to provide it, if it is not provided within 24 hours your application may be automatically declined.
- Applications are processed (references and employment checks) and shortlisted for the landlord to review and approve.
- If you are approved you will receive an email confirming all the lease details, instructions for paying your holding deposit and bond.
- If the application has been unsuccessful you will also be notified. Just because you were unsuccessful doesn’t mean your application was bad, we can only approve one application so please don’t take it personally. If you want some feedback about your application you can email or call the office and we can let you know if there was anything that may have been a factor in your application being declined.