Daily Archives: June 26, 2020

What should be included in the rental application

If you have found a property you would like to rent, the next step is to complete an application form. The application form is your way of showing the landlord and agent that you are the best candidate for the property, that you are able to pay the rent and that you will look after the property as specified in the tenancy agreement. Your application is reviewed against all the other applicants so making sure yours stands out is important.

There are a number of documents that are often required to accompany your application, therefore before you go house hunting it’s worthwhile ensuring everything is up to scratch. By being able to produce this information promptly when required can prove to be the clincher in a rental race.

Rental Resume

To help save time and to show you are super keen to rent the property, consider compiling a rental resume and bringing a printed copy to the viewing. Make sure you include your personal details, your education, current employment details, salary, rental history, references and contact details. Making a good first impression with a document such as this may help your application.

Photo Identification

This may be one of the more obvious pieces of paperwork, but it’s also one of the most important. Put yourself in the landlord’s shoes – would you allow a tenant to live in your home, despite having no way of proving they are who they say they are?

Your driver’s license or passport will normally suffice.

Reference Letters

Any reference letters you may have had from past landlords and employers are suitable. Having positive feedback straight from the horse’s mouth can really sway the decision in your favour. We buy houses in Midland.

Pay Slips

Significant scope is placed on your ability to pay rent, as most often landlords will prefer tenants that have a constant and reliable source of income.

Adding a few recent pay slips and bank statements to your application will not only show proof of employment, but should also allay any fears a landlord may have over missed payments.

Rental History

Rental history is information on your past rental arrangements, which includes former addresses, late rent payments and evictions, as well as criminal history, your credit score and other data to help a landlord judge whether or not you’re a good fit as a tenant. This information is to renting what your credit score is to getting a finance for a loan. If you have a good rental report you are more likely to be approved for a rental than if you have a poor rental history report.

With your permission landlords and agents can access this information quickly and easily and assess whether or not you are suitable tenant for their property. Make sure you understand what is in your rental history report so you are not faced with any surprises. Download and review it and be prepared to discuss any issues it may highlight.

This can be a crucial addition to your application.

Cover Letter

If you really want to put off a good first impression, you should attach a cover letter to your application form.

Not only will this differentiate you from other applicants, but the piece of paper detailing your application and supporting why you should be considered will add a more professional feel.

Just like a job interview, wearing your best clothes and getting a new trim for the inspection might help too!

Follow up

If you have submitted an application and have not heard anything 48 hours later, we recommend following up with the agent either via email or via phone. Let them know you are super keen to rent the property and ask if they need any more information from you. If they receive a pleasant message from you it may help you be approved

What to expect on auction day

Over the last couple of months David Holmes, National Auction Manager for LJ Hooker Auction Services, has been sharing his insights into how best to sell a home by auction. This month he discusses the auction day itself and what exactly will happen. Knowing how the day will flow will help keep your nerves in check…. Which is very important as auctions can be quite stressful.

OK…so the big day has arrived. To keep the nerves under control, think of the auction as a process, a process that will get your property sold in a great time frame with a great result. Being process focused, not out come focused is key here.

Meeting the agent and advising reserve

Two days before the auction you should meet with your agent to go through the auction day strategy and set the reserve.

Pre-auction inspection

Most agents will open your property for one final inspection. Frequently we have buyers turn up on auction day for the first time so make sure your property is looking spotless and well-presented. You never know you may pick up a buyer at the last minute and you certainly don’t want to deter buyers that are there to bid.

If the auction is on-site, set up a suitable area to hold the auction. Usually it is held in the garden or on the front footpath, however your agent and auctioneer will be able to guide you.

Registration of Bidder

In most states, all interested buyers are required to register before the auction commences in order to receive a bidder’s number. This protects you, the seller from people who may not complete the auction process. We buy houses in Ocala

Start of the Auction

At the start of the auction the auctioneer will detail the positive attributes of your property and outline the state laws and settlement terms applying to this particular property including whether vendor bids will be used.

Bidding

Now things are really start to heat up….. The auctioneer will call for an opening bid or in other words the first bid from the crowd.

From this point onwards the auctioneer will control the flow of the bidding and will encourage bidders to go higher, but at the end of the day, each bidder decides how much they are prepared to pay and the seller decides whether they’re prepared to sell at that price.

If the property doesn’t sell under the hammer

If your property doesn’t sell under the hammer don’t panic, the great news is both you and your agent have an overwhelming amount of intelligence as to what the market will potentially pay to purchase your property, plus your agent has a book of potential buyers to talk to. In my 12 years’ experience a sale is normally made soon after the auction so don’t be alarmed if it doesn’t sell under the hammer.

Completion of Sale

If your reserve price is reached during the auction, the hammer will sell to the highest bidder. The winning bidder will sign the contract there and then, pay a deposit which is normally 10% of the winning bid…… and you can pop open the champagne!