You’ve put in a rental property application and you’re now waiting to find out if you got the place. So what happens next?
Depending on the agent, it may take as little as 24 hours before your application is approved from submitting your rental property application. The agent will contact you when this happens.
However, some agents can take 2-3 days to respond – and in some instances may not respond at all. If you haven’t heard back after 24 hours, you should gently follow up by reminding them that you applied for ‘Property X’ yesterday and say you want to make sure they received your application.
Alternatively, tell the agent you applied for ‘Property X’ yesterday, and you are checking to see if they require any further information. This move will ensure you stay top of mind when they are sorting through applications for the rental.
So, let’s assume you’ve been accepted – congratulations!
Things will happen fairly quickly after this point. You’ll be asked to sign a lease and pay the rent in advance, generally within 24-48 hours of being accepted.
Once your application is approved, you will be asked to pay the following:
- 2 weeks rent in advance (this is a standard request)
- A security bond, usually 4 weeks rent
- You may also have to pay an additional processing fee. This will vary from agent to agent
Rent in advance is simply paying your first two weeks of rent up front. For example, if your new lease starts on the 12th of October, and your rent is payable per calendar month, your rent won’t be due until the 12th of November.
Have a good attitude
This may be one of the most important tips! Searching and applying for rental properties can be a stressful time for a prospective renter. Make sure you are polite and friendly to the leasing agent, landlord or owner during the process – going in with a pleasant attitude will have a direct impact on the success of your application.