Once a potential tenant has shown interest in the idea of renting your property, they’ll lodge a rental application form.
This is usually done through the agent who will notify you about the application, the applying potential tenant and the weekly rent they’ve agreed to pay.
Application forms vary by agency and state but they will usually require things like;
100 points of ID – licence / passport, government or institution issued cards and documents
The potential tenants;
Current address
Current employment details
Previous employment details
Current agents details
References
Current earnings with the last three payslips and possibly bank statements
The agent’s application forms can go into requesting a lot of details.
While it’s up to the potential tenants about how much information they provide, the more they complete the application form will usually help the agent, and ultimately you, to decide if they’re the right fit for the property.
In some instances, some applicants may not have ever rented before.
For whatever reason they have, some people just genuinely won’t be able to provide any rental references.
It’s important not to disregard anyone and let any and all applicants explain their unique situation so everyone can come to a mutual agreement to satisfy the rental application requirements.
If you don’t, you run the risk of potentially losing what would have been an ideal tenant.
Some potential tenants may also show inconsistent income because they’re self-employed, a student or a casual worker. Again, let any and all applicants explain their unique situation and see what agreement everyone can come to so that they can satisfy the rental application requirements.
What’s ultimately required of the tenant is for them to show that they have the financial ability and relative financial security to pay the rent on time, every time and to show that they are a reliable, proper and fit tenant to lease the property.
By working with the potential tenant and managing agent and not against them will make for a better, smoother and easier rental process that will benefit everyone in the long run.
Besides, everyone likes working with people that are easy to get along with.
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This information is of a general nature only and does not take into account your objectives, financial situation or needs. We are not financial, legal or tax advisers. You should seek appropriate professional advice specific to you before acting on this information.
