SO many homeowners, single parents and students enter the Australian rental market every day. It could be their first time, or they might have been out of the game for awhile. The good thing about this – it’s completely acceptable. You just need to be a little creative!
1. Give the agent / landlord some financial proof
If you’re not currently renting, you can easily show that you can meet your financial obligations. Print out your bank statement showing the payments you’ve consistently made for your mortgage or any other loan or payment plan you’ve been on for the last year. Even if the best bet you have is a mobile phone plan, they’ll be impressed that you took meeting your financial obligations seriously enough to provide this.
Note: For current renters, it’s easy to show you can consistently pay your rent on time by providing a Rental Ledger (ask your agent or landlord for one).
2. Think about getting a guarantor
A guarantor is someone who will back you up if things go pear-shaped along the way. Normally, a guarantor will be your parents. They will need to complete an application form, provide identification and proof of income, as they will be equally responsible for looking after the house and paying the rent. You should just mention on the lease that they will not be living at the property. This can be a huge boost to your chances of application success.
3. Show you can look after a house
Proving you can look after a rental property when you’ve got no rental experience is tough – but not impossible. If you’ve just sold your house, get a letter, or provide the phone number of the agent you sold your house through. This can explain to your agent or landlord how well-presented your house was for inspections. A phone or written reference from a long-time friend, or current / ex-employer mentioning how well your house / work space is kept can also help.