Trying to be approved for a rental

Discussion in 'Property Management' started by TMY, 5th Dec, 2016.

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  1. TMY

    TMY New Member

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    5th Dec, 2016
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    NSW
    Hi All

    My partner and I are in the middle of applying for rentals.
    Last week we went to a property inspection (which was on a Wednesday) and submitted our application. The next day the property manager phoned and stated that our application looked good and that it had been passed to the landlord, however, they were going to have another inspection on Saturday.

    When we inspected the property there was roughly 5 other couples/groups inspecting it.
    The property has just been freshly renovated, has no tenant in it and has been listed as available immediately.

    Does the fact that the property has since been for another inspection mean that our application just isn't what the landlord is looking for?

    Finally, we have excess cash at the moment and have the capacity to pay the bond and make an offer of additional rent in advance. Is this something that would entice a landlord? This isn't something I would normally do, but after multiple weeks of inspecting properties, no other rentals on the market take our fancy quite like this one.

    I can provide some additional information on our application if that would help. I'm sure our lack of rental history is impacting our application.
     
  2. Magnet

    Magnet Well-Known Member

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    Definitely offer the extra it may secure you the property.
     
  3. MyPropertyPro

    MyPropertyPro REBAA Buyer's Agents Sutherland Shire & Surrounds Business Member

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    No it's because until an application has been approved, the lease signed and the bond has been receipted, that property isn't technically let yet.

    Any good agent will continue to conduct leasing activities until the property is let as many tenants apply and then pull out. If the agent doesn't keep going, it'll cost valuable letting time and increase the chance of vacancy for the investor if prospective tenants don't follow through with applications.
     
  4. The Y-man

    The Y-man Moderator Staff Member

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    @TMY

    As a landlord, we do wait to see if there are any "better" prospects after receiving the first applicaiotns (unless of course we haven't received ANY application for weeks!!)

    Prior rental history is not the only thing we look at - the nature of your current employment (fulltime, permanent the best) and income is also a very big factor, as well as if you have kids etc

    The Y-man
     
    neK likes this.
  5. TMY

    TMY New Member

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    5th Dec, 2016
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    Location:
    NSW
    Completely understandable.
    Always good to get some insight from the other side of the transaction.

    Great to hear!
    Thank you for your input.
     
    Rebecca and EN710 like this.

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