QLD Brisbane rental market questions

Hi all, we've been abroad for 8+ years and are looking to relocate to Brisbane. I've not been in the Australian rental market for a long time as before we lived in our own property in Sydney (which is now an IP).

Can someone tell me what the rental market is like these days in Brisbane? e.g. is it very competitive, 10+ people all trying to apply and get the same property etc? (we'll be looking at $800+/week places)

Also what paperwork and documents should I start preparing once we return? I read that agents will like to see rental statement to prove we can pay rent? Are agents/owners comfortable if our rental history is from overseas?

Regarding income, how do agents and owners view income in one of the major international currencies? As my job is fully remote i'll be getting paid in one of the major overseas currencies (well known tech company).

 

More the merrier:

 

Brisbane is pretty competitive at the moment, more so than I've noticed in the past few years. I don't expect it to keep up forever, I think we're just playing catch up on the COVID slowdown. It'll be really interesting to see how our typically busy January goes.

Rental history from overseas can be a bit of a problem. Talk to your agents over there and find out how best it would be for your potential agent over here to contact them- if you don't make it easy they will probably put it in the too hard basket.

Overseas currency isn't an issue, just show a conversion with your payslips and maybe a bank statement.

Every agent has different ID requirements. We require photo ID at an absolute minimum but are otherwise pretty straightforward with the rest. Some agents are super anal about 100 points of certain documents etc. I think Michael pretty well nailed the most you'd need there.

 

What's the most effective approach in a crowded rental market if you have no rental history due to owning a home for 20+ years but rock solid financially (assets, cash, debt and income)? Pay 6 months in advance?

 

What I did was get my property manager looking after main residence to give a verbal reference and I paid rent 3 months in advance and was successful for a rental property. One agency refused to accept my application of paying rent in advance saying it was illegal, although my understanding is you can offer to pay in advance. I’ve accepted tenants who have offered that and also accepted other tenants who have never rented before and moved while renting out their main residence.

 

I have taken on tenants from OS with no rental history but solid financials. Everyone usually has to move into their first rental at some point.

 

Offering rent in advance is good, though some think it's suspicious. You can also offer extra, same deal.

I personally think you have a really solid application anyway, only an idiot would be unhappy with that.