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  • Top Tips for Buying a Rental Property | Real Estate Blog – Niche Portfolio
    Friday, February 28, 2014
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    Monday, January 20, 2014
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Rental home hunting? Follow these 5 simple tips for a smooth transition | Real Estate Blog – Niche Portfolio

Wednesday, May 14, 2014

The rental property market is highly competitive at the moment, especially as more and more people are choosing to rent rather than to buy.  Looking for rentals can be stressful and tiresome, not to mention time consuming!  Below are a few simple strategies that you can put into place that will give you the competitive edge over others that are in the market. These straightforward steps will help you find and secure your ideal rental home.

1. Start early

Here is a property market secret - the supply of rental properties in the market is highest at the end of each month, so you can start doing your research ahead of time.  Try to spend as much time before your moving date, researching the market both online and by contacting real estate agents by phone and in person.  Know the areas and particulars of what you are looking for and be persistent in your search.  Commit to regularly monitoring websites and rental listings for updates.

2. Work out your priorities

Spend a good amount of time working out what features are must-haves for your lifestyle and which would just be nice extras. Things like size, location, proximity to public transport, pet policy, and off-street parking are all factors that might be crucial to your decision-making. Once you’ve designated your list of ‘needs’ and ‘wants’, you can use this to narrow down your shortlist of properties to view so that you don’t waste any time looking at properties that aren’t going to be suitable.

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3. Take advantage of your contacts

If you are currently renting, make sure you contact your real estate agent and get a good rental reference.  These references can come in handy when applying for properties as a good reference can give you an advantage over others.

Let your friends, family and other social networks know that that you’re looking for a rental property.  They may know of a good lead that you can look into before it gets listed for public viewing.

4. Inquire about viewing a property before the ‘Open for Inspection’

Ring every agent on your shortlist to find out if there is a chance you could arrange a viewing of the property midweek before the weekend ‘Open for Inspection’ times, when you’ll be just one amongst a crowd. Also, while you’re on the phone to the real estate agent, you can find out whether they have any other upcoming properties in the area that haven’t been listed yet.

5. Get your paperwork in order

There’s nothing worse than finding the property of your dreams and missing out on it because you weren’t ready with your application.  Be sure to take the time to fill in your application thoroughly and bring along your prepared list of references (rental, work and personal) as well as 100 points of ID to all property viewings.  If you want to be extra organised, go to the real estate agent’s office in advance so that you can fill out an application ahead of time. Sometimes landlords will accept the first complete application that they can’t fault, so it certainly pays to get yours in first.